Ncell Now A Public Company: Nepal
N24 Staff Writer, KATHMANDU: Ncell, country’s one of the largest and most profitable telecommunications service provider, has been transformed from private company into a public company.
As per the decision of the Ministry of Industry, Commerce and Supplies and the Office of the Registrar of Companies, the company has issued a notice stating that, Ncell Pvt. Ltd. will now be known as Ncell Axiata Limited. All the operations of the company will be done under Ncell Axiata Limited.
The transformation has been made pursuant to Article 13 (1) of the Companies Act 2063, which has a provision of transforming a private limited company into a public company if its paid-up capital is above Rs. 5 crores. Likewise, the paid-up capital of Ncell is Rs 10 crores. At the same time, this has opened the way for the company to issue 20 percent of its share to the public.