Butwal Power Company is going to issue 40,81,000 units of FPO shares in coming 15 Magh, 2074. The company fixed its price as Rs. 501 per unit including Rs. 401 as premium. It will issue its Further Public Offering (FPO) worth Rs 2.04 arba.
The FPO applications will close on 19 Magh, 2074. The maximum date for the offering is 15 Falgun, 2074.
Interested investors can apply for a minimum of 10 units and a maximum upto 20,400 unit of shares.
NMB Capital Limited is the issue manager for the FPO and the co-issue manager is Laxmi Capital Market Limited.
Interested applicants can apply for the share with ASBA forms from all ASBA approved banks.
After the issuance of FPO, its paid up capital will reach to Rs. 2.21 arba. The reserve will also grow by Rs. 1.50 arba.
Butwal Power Company (BPC) is one of the leading companies in Nepal’s power sector with generation and distribution as its core business areas. Incorporated in 1966 as private company and converted into public limited company in 1993, BPC has a track record of pioneering multi-faceted capacity building initiatives in hydropower development.
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.
Butwal Power Company Limited has been rated with grade 3 by ICRA Nepal (ICRANP) indicating average fundamentals. There is also an investment of government in this company.