Butwal Power Company Limited Cancels FPO Issuance Process, Proposes Rights Share Issuance

Butwal Power Company Limited (BPCL) has announced the cancellation of its Further Public Offering issuance process and decided to issue rights shares instead. The decision was made during a meeting of the company’s board of directors held on the 22nd of Chaitra, 2081.

BPCL had previously sought approval to issue 1,00,00,000 (one crore) additional shares for Rs. 100 per share, intending to raise capital for various projects. However, the board decided to halt the process of Further Public Offering (FPO) and instead proposed issuing rights shares amounting to 40% of the company’s paid-up capital.

To proceed with this new proposal, BPCL will seek prior approval from the Electricity Regulatory Commission (ERC) before presenting the proposal for rights shares at the company’s upcoming Annual General Meeting (AGM).

The paid-up capital of BPCL is Rs. 340,906,4600, and the proposed rights share issuance would amount to Rs. 136,363,258,000.