The country’s largest private telecom company Ncell transformed into a public company.

Therefore, publishing a notice today, Ncell informed its transformation to a public company.

With this transformation, Company recognised as Ncell Axiata Ltd. And all its operations carried under the same name.

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The transformation made in line with a provision in the Article 13 (1) of the Company Act, 2006. This requires telecom firms with paid-up capital above Rs 50 million to transform into a public company. Ncell today has a paid-up capital of Rs 100 million.

With the transformation into a public company, it required to issue shares to the public. As per existing laws, Ncell can sell up to 20 per cent of its share to the public.

However, Ncell has not disclosed when and how it will issue shares to the public.

Axiata, Ncell’s parent company, owns 80 per cent stake in company. However, local investor Bhawana Singh Shrestha owns remaining 20 per cent stake.

Ncell breaks silence, says it'll resolve tax issue soon

It is not only one of the highest profit-making company in Nepal. It is one of the largest taxpayers to the government.

Therefore, Last fiscal year, Company paid almost Rs 34 billion in income tax.

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A version of this article appears in e-paper on August 6, 2020, of The Himalayan Times.

However, The transformation made in line with a provision in the Article 13 (1) of the Company Act, 2006. This requires telecom firms with paid-up capital above Rs 50 million to transform into a public company. Company today has a paid-up capital of Rs 100 million. With this transformation, Company recognised as Ncell Axiata Ltd. And all its operations carried under the same name.