Phonepay and NMB Capital begin preparation for IPO issue
Nepal’s payment system operator, PhonePay Payment Services Limited, has started preparations for issuing an IPO. For this, an agreement regarding consulting services has been signed between PhonePe and NMV Capital. NMB Capital will provide consultancy services to Phonepay regarding the issuance of the IPO based on its expertise and capabilities.
With this agreement, NMV Capital will help PhonePe make the necessary preparations for its IPO. After the preparatory work is completed, Phonepay will issue the IPO for the general public after obtaining the necessary approval from the regulatory body. Phonepay is the first fintech company in Nepal that is preparing to issue an IPO.
According to the company, the agreement with NMV is an important milestone for Phonepay, which is taking steps to become a publicly listed company in Nepal’s capital market.
Signing the agreement, Divas Sapkota, chief executive officer of PhonePe, said that the agreement with NMV will make them more comfortable. “Rather than just issuing ordinary shares, we have tried to inspire and set a benchmark for other companies in Nepal working in the technology sector. We are going to collaborate with NMB Capital to give us the support and guidance we need to achieve this dream,’ he said.
PhonePay is a leading digital payment network licensed as a payment system operator by Nepal Rastra Bank. PhonePay, which has been operating since 2019, has been providing cashless payment services to customers of banks and wallet providers through mobile phones.
Images mentioned above related to are either copyright property of ICT-Samachar or respective image owners.