KATHMANDU, Aug 14: E-Sewa Wallet, a digital payment company, has started the process of issuing Initial Public Offering (IPO) of the company’s shares to the general public.
E-Sewa, which is running as a private company, has started the process of issuing the IPO after getting permission from Nepal Rastra Bank (NRB) to operate as a public company.
The company received approval from the NRB to operate as a public company last week. After receiving approval from the regulator, E-Sewa has now reached the Office of the Company Registrar for share transfer.
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According to the rules of the NRB and the policy of the Companies Act, E-Ssewa will now be allowed to issue shares to the general public from 20 percent to 49 percent.
The company currently has a paid-up capital of Rs 100 million.
According to the company sources, E-Sewa will start the necessary process to issue shares to the general public after completing all the due processes at the Office of the Company Registrar.
E-Sewa, licensed as a payment service provider, currently facilitates digital payment transactions excluding card services. The company has already fulfilled the stipulated paid-up capital requirement within the three-year period mandated by the NRB.
The company has made a strategy to increase its services by adding capital. The company is ready to do other payment transactions involving cards for which the company aims to maintain a paid-up capital of Rs 250 million before mid-July 2028.
Along with the capital increase, the company will proceed with the necessary process of issuing the IPO to the general public.
