PhonePay signs IPO deal with NMB Capital to prepare for IPO
PhonePay Payment Service Limited, the operator of the payment system, has started preparations for issuing an IPO. For this, an agreement regarding consulting services has been signed between PhonePe and NMB Capital.
NMB Capital will provide consultancy services to Phonepay regarding the issuance of the IPO based on its expertise and capabilities.
With this agreement, NMB Capital will help PhonePay to prepare 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 PhonePe wanted to set a benchmark and inspire other companies working in the technology sector rather than just issuing ordinary shares.
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.
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