Butwal Power issued 4.081 million units of FPO at the price of Rs 501 worth Rs 408.1 million.
The FPO issuance was undersubscribed by 1.161 million units of shares despite extending the deadline and allowing promoter investors to take part in the issuance. Thus, the underwriter companies for the issue are to accept the unsubscribed shares.
The company issued the shares having a face value of Rs 100 at a premium of Rs 401. However, 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 436.