Fonepay Payment Service Limited (Fonepay), Nepal’s leading digital payments company, today announced an agreement with NMB Capital Limited, a prominent Nepali investment bank, to provide advisory services for Fonepay’s initial public offering (IPO) and listing on the Nepal Stock Exchange.
The partnership marks a pivotal moment for Fonepay as it takes concrete steps toward achieving its long-held goal of becoming a publicly traded company. Founded in 2073 BS, Fonepay has revolutionized digital payments in Nepal, enabling millions of Nepalis to pay for goods and services quickly and securely using their mobile phones.
“An IPO and public listing have been priorities for us since day one,” said Diwas Sapkota, CEO of Fonepay. “We want to set an example for technology companies and startups in Nepal that they can build for the world. Partnering with the experienced team at NMB Capital is pivotal to helping us take this important next step in our company’s journey.”
Under the partnership, NMB Capital will provide guidance and support to prepare Fonepay to issue shares to the public, including undertaking pre-IPO planning, coordinating regulatory approvals, valuating company shares, preparing the prospectus, and marketing the IPO to potential investors.
“We are thrilled to be partnering with Fonepay on its IPO, which will be a milestone for both the company and Nepal’s capital markets,” said Sunil Khatri, CEO of NMB Capital. “Fonepay is a homegrown Nepali tech success story, and its IPO will pave the way for more technology companies to go public, accelerating the growth of Nepal’s digital economy.”
The IPO will provide Fonepay access to the capital required to invest in new products and services, scale its operations, and expand into new markets. It will also give ordinary Nepali citizens and institutional investors the opportunity to own a stake in one of Nepal’s most successful startups. By working together, Fonepay and NMB Capital aim to conduct an IPO that meets the highest standards of transparency and corporate governance.