Nepal Payment Solution to Issue IPO | Appoints LS Capital as Issue Manager
January 29, 2024 | Investopaper
Nepal Payment Solution Limited is going to issue an Initial Public Offering (IPO). The company is planning to sell 3,05,600 lakh shares in the IPO at a face value of Rs 100. Hence, the public issue amounts to Rs 3.05 crores.
You May Be Interested In:
How to apply IPO/FPO/Right Share through Mero Share?
Upcoming Initial Public Offerings (IPO) In Nepal
For this purpose, the company has appointed LS Capital Limited (Laxmi Sunrise Capital) as the issue and sales manager. An agreement has been reached between the hydropower company and LS Capital in this regard.
The agreement was signed by Lok Raj Sharma, chief executive officer of the company, and Bijayalal Shrestha, chief executive officer of LS Capital Limited.
In the first phase of the IPO, the company will sell shares to the Nepalis in foreign employment. Similarly, after issuing the shares to the locals, the company has plans to sell shares to the general public in the second phase of the IPO.
Now, the company needs approval from the Securities Board of Nepal (SEBON) for the public offering.
About Nepal Payment Solution Limited
Nepal Payment Solution operates as an Automated Clearing House (ACH) that holds licensing and regulation from the Payment Systems Department (PSD) of Nepal Rastra Bank (NRB) for overseeing domestic clearing and settlement processes.
NPS is currently collaborating with 90 percent of Banking and Financial Institutions (BFIs) and maintains partnerships with 20 Payment Service Providers (PSPs) within Nepal. Additionally, by leveraging partnerships with other institutions, the NPS platform has expanded its reach to include over 200 sub-members, comprising various merchants.
