Butwal Power Company FPO allotment Concludes : Valid applications allotted with applied Units

The FPO allotment of Butwal Power Company concluded today. The event took place at Butwal Power Company Limited buidling, Buddhanagar, Kathmandu. 

The result can be checked at "IPO Result" Section of NepseKhabar later today. 

Link: http://nepsekhabar.com/iporesult

Amidst the program, Mr. Srijesh Ghimire appealed for the removal of upper cap in case of undersubscription of Public issue. He further clarified, there were investors willing to apply huge quantity of shares, the company also had huge units of shares unsold, However the rule of upper cap (i.e. maximum units one can apply) became an obstacle. He requested the regulatory body to think on this matter. One could apply a maximum of 20,400 units in BPCL FPO.

NMB Capital was the issue manager for the issue. The company issued 40,81,000 unit shares at  Rs 501. A total of 28,59,170 units were applied by 84,804 valid applicants. All the valid applications were alloted with the shares. There were applicants aplying for minimum 10 units, whereas applicants applying for units as high as 20,400 also participated in the FPO.