Butwal Power Company’s 40.81 lakh units FPO shares in SEBON pipeline

Butwal Power Company Limited (BPCL) has been added in Securities Board of Nepal (SEBON) pipeline to seek approval for the issuance of 40.81 lakh units FPO shares. BPCL is seeking approval to issue a total of 40,81,000 unit shares as part of its Further Public Offering (FPO). The hydropower company has proposed an FPO price of Rs 470 per share (Rs 370 premium added to the par value of Rs 100). NMB Capital Limited and Laxmi Capital Market Limited have been assigned as the co-issue managers for the FPO. BPCL aims to use the amount collected from the FPO to develop 37.6 MW Kabeli-A Hydropower Project and 30 MW Ngadi Hydropower project. BPCL has 54% stake in Kabeli Energy Limited and 97% stake in Ngadi Hydropower Project. BPCL has earned net profit of Rs 13.09 crore in the second quarter of the fiscal year 2073/74. After the FPO, its paid up capital will reach Rs 2.21 arba and its reserve will grow by Rs 1.50 arba.