Butwal Power (BPCL) FPO Allotment Concludes, Check Your Result !

FPO ALLOTMENT

Butwal Power Company Limited (BPCL) has allocated 4.1 million units of further public offering (FPO) this morning at 9:00 AM today Wednesday 28th March 2018 (14th Chaitra 2074) at the company premises in Buddhanagar, Kathmandu. According to its issue manager, NMB Capital Limited, a total of 85,614 applicants had applied for 2,902,276 unit shares. Of which a total of 84,804 applicants have been allotted 2,859,170 unit shares. Allottees were issued a minimum of 10 units and a maximum of 20,400 unit shares.

There were a total of 758 invalid applicants demanding 43,106 unit shares that were cancelled. Of these, 52 applicants who had applied from 21,320 unit shares were rejected for double applications, 677 applicants were rejected for wrong DMAT account numbers,  and 29 applications were rejected for uneven number of unit shares demand. Laxmi Capital Market Limited was the co-issue manager for the FPO.

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Butwal Power (BPCL) FPO Allotment Today, Wednesday !

FPO ALLOTMENT

Butwal Power Company Limited (BPCL) is allocating its much talked further public offering (FPO) today Wednesday 27th March 2018 (14th Chaitra 2074). The company had floated 4.081 million (40.8 lakhs) unit shares worth Rs 2.04 billion (Rs 2.04 arbas) at a face value of Rs 100 at a premium of Rs 401 about two months ago starting from Monday 29th January 208 (15th Magh 2074) to Friday 2nd February 2018 (19th Magh 2018) for 5 days.

Subsequently, the company had then called up for institutional investors for the issues from Friday 9th February 2018 (26th Magh 2074), but 1.169 million (11.69 lakhs) unit shares still remained unsubscribed for despite the deadline extension to allow the promoter investors to participate in the issuance and thus, the underwriter companies had to purchase the remaining unsubscribed unit shares.

NMB Capital Limited is the issue manager this FPO that was floated for Rs 501 per unit share. The power company has earned Rs 5.992 million (Rs 59.92 crores) in the second quarter (Q2) of the current fiscal year. Its paid up capital stands at Rs 1.81 billion (Rs 1.81 arbas). Recently, the continuous bearish trend in the capital market has decreased charm of public issues. At present, the market price of the stock is at Rs 468 as per the last trading yesterday Tuesday.

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