Ncell is now a public company, soon to issue shares, the name has also changed

Ncell has become the largest private sector telecom service provider in the public sector. Ncell has received permission from the Registrar of Companies to operate as a public company on Monday. At the same time, the company will continue to provide services and business as Ncell Axiata Limited. from now on.

After being transformed into a public company, Ncell is now in the process of issuing shares to the public. The process of issuing shares, which has been hampered by profit tax disputes, is now approaching.

According to the latest amended provision of the Companies Act 2063, Ncell has changed its structure as per the provision that telecommunication companies with a paid-up capital of more than Rs 50 million should go public within the coming Baishakh. The company had applied to be transformed into a public company in April, 2075 BS.

Ncell's Notice

According to the last amended provision made in 2074 BS, out of the telecommunication service providers with a paid-up capital of more than 50 million, ‘currently registered private companies must become public companies within two years as per the Article (12)’.

According to the amendment bill, which was ratified on April 3, 2074 BS, such companies that have reached paid-up capital have to turn into public companies. Ncell has a paid up capital of Rs 100 million.

Spice Nepal, which has been selling its service in the name of Mero Mobile, has been operating the service as Ncell since 2010 after selling it to the Swedish telecom company TeliaSonera.

Also read:Ncell's special offer to students, 20 GB data in only Rs.250

Leading investor TeliaSonera announced its decision to sell its 60.4 percent stake in Ncell to Malaysian company Axiata for 1.3 billion American Dollar on December 22, 2072. After that decision, 20 percent shares of Niraj Shrestha, who was a local partner in Ncell at that time, were also sold to Bhavana Singh Shrestha, a local partner chosen by Axiata.

The remaining 19.6 percent stake in Vizer Capital was later sold by Axiata. Accordingly, Axiata currently owns 80 percent of Ncell and local partner Shrestha owns the remaining 20 percent. Axiata had brought the company under its control in 2073 BS by completing all the work related to the purchase and sale of Ncell's shares.

Ncell, the largest telecommunication company in the private sector, was given permission to operate mobile services by the Nepal Telecommunication Authority on September 3, 2008. According to the latest statistics of NTA, Ncell currently has more than 16 million mobile users. Last year, Ncell had an average annual income of Rs 55 billion.

Ncell Axiata Limited recently started its operation from

Ncell ICON, Ward No. 26, Lainchaur,

Kathmandu Metropolitan City, Kathmandu District, Bagmati Pradesh, Nepal

Ncell Icon Building

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