Digital payments provider Fonepay is preparing to issue 20% of its shares to the public through an IPO.
Board Decision
Fonepay Payment Service Limited, a leading digital payment company in Nepal, is set to offer 20% of its paid-up capital to the general public via an Initial Public Offering (IPO). Currently, the company has a paid-up capital of 51 crore rupees.
IPO Advisory Agreement
To move forward with the IPO process, Fonepay has signed a financial advisory agreement with NMB Capital Limited. The company is in the process of finalizing its financial report for the fiscal year 2081/82 B.S. Only after completing this report will a decision be made regarding whether the shares will be issued at a premium or par value.
New Strategic Investor: Khetan Group
Meanwhile, Khetan Group is set to enter Fonepay as a strategic investor. The group is preparing to acquire 20% of Fonepay’s shares for Rs. 1.40 arba (Rs. 1.40 billion), valuing the company at approximately Rs. 7 arba overall.
The approval process for this agreement is currently underway at Nepal Rastra Bank.
📌 This article was originally published on https://bajarkochirfar.com. Translated with the help of AI and reviewed by our editorial team.
