Butwal Power FPO Allotment concludes; total 84,804 valid applicants allotted 100% of their application; Rs 61.21 crore worth shares subscribed by underwriters

NMB Capital Limited, the issue manager for 40.81 lakh units FPO shares of Butwal Power Company Limited (BPCL), has allotted the shares to the applicants. The allotment was held today at 9:00 AM at Butwal Power Company's premises, Buddhanagar, Kathmandu. A total of 84,804 applicants have been allotted 28.59 lakh units shares of BPCL. Remaining 12.21 lakh units shares were allotted to the underwriters: NMB Capital, Laxmi Capital, NIBL Ace Capital, Global IME Capital, Global IME Samunnat Scheme-1, Nabil Investment Banking Ltd, Nabil Balanced Fund-1 and Nabil Equity Fund. Laxmi Capital Market Limited was the co-issue manager for the FPO. There were a total of 758 invalid applicants who applied for invalid units, 52 applicants who were rejected for double applications, 677 applicants rejected for wrong BOID and 29 applicants who applied for odd units. Applicants were allotted a minimum of 10 units and a maximum of 20,400 units shares of BPCL. BPCL’s market price closed at Rs 468 yesterday, which means that the FPO allottees are now at a loss of Rs 33 per unit. After the FPO, its paid-up capital has reached Rs 2.21 arba and its reserve has grown by Rs 1.50 arba. 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. It had earned net profit of Rs 59.92 crore in the second quarter of the ongoing FY 2074/75. Allotment module