5th August 2020, Kathmandu
Ncell has now become a public company! With this change, the company will have to issue an IPO for the general public in the near future.
With this, the largest private telecom company(previously) has changed its name to Ncell Axiata Limited from Ncell Private Limited.
According to Article 13(1) of the Companies Act 2063 BS, any private telecom company that has a paid-up capital of more than 5 crores can transform into a public company. Ncell currently has 10 crores paid-up capital.
With this, Ncell will have to issue an IPO for the general public. The share investors are elated with this news. Because let’s be honest, despite all the controversies, it’s a profitable company. Ncell is the highest taxpayer company for the fiscal year 2076/77.
The biggest private telecommunications company in Nepal first acquired the rights to operate on September 3, 2006 AD. It first operated as Mero Mobile. Later on, it became popular as Ncell after the axiata group of Malaysia acquired the company.
According to the latest reports, Ncell currently has more than 16 million users.
Are you happy with this news? Are you going to invest in the shares issued by the company? Write your views in the comment section below.