Butwal Power Company to Issue 1,00,00,000 Shares in FPO

December 17, 2023 | Investopaper

Butwal Power Company Limited (BPCL) is planning to issue the Follow-on Public Offering (FPO). For this purpose, the company is taking the agenda of issuing FPO to its upcoming 31st Annual General Meeting (AGM) to held on Poush 29, 2080 BS.

After the endorsement from the Annual meeting, the company will begin the procedures for the FPO. It will appoint an issue or sales manager for the public offering. Then, the company will submit the application to the Securities Board of Nepal (SEBON).

If approved by SEBON, the hydropower company will issue 1,00,00,000 shares in the FPO.

BPCL has stated that the amount received from FPO will be used for the investment in its upcoming projects.  At present, the company has a paid-up capital of Rs 340.9 crores.

Butwal Power Company Limited (BPCL) is one of the leading hydropower companies in Nepal. Its owns and operates Andhikhola (9.4 MW) and Jhimruk (12 MW) plants located in western Nepal. It also owns a majority stake in the Khudi hydropower plant (4 MW). BPCL is also operating 30 MW Nyadi Hydropower project and is currently constructing Kabeli A HEP (37.6 MW) through its subsidiary companies.

Other future projects under BPCL include:

—139.2 MW Lower Manang Marsyangdi Hydropower Project (LMMHP)

—135 MW Manang Marsyangdi Hydropower Project (MMHP)

—327 MW Upper Marsyangdi-2 Hydropower Project (UMHP)

—7.9 MW Chinokhola Hydropower Project (CKHP)

—160 MW Mugu Karnali Hydropower Project (MKHP)

What Is FPO?

FPO (Follow-On Public Offering) is the process of issuing shares to the public by the company already listed on the stock exchange. If the company issues shares to the public for the first time, it is IPO (Initial Public Offering). FPO is any additional issue of shares by the company after IPO.

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