Ncell has transformed into a public company. (File Photo)
KATHMANDU: Ncell, a telecommunication service provider company, has been transformed into a public company.
Ncell Pvt. Ltd. will now be recognized as Ncell Axiata Limited (NAL), and all its operations will be carried under the NAL.
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.
It should be noted that Ncell’s paid-up capital is Rs 10 crores.
With this, the Ncell can issue its shares to the public by selling up to 20 percent of its shares to the public.
While Axiata owns 80 percent of the Ncell, Bhavana Singh Shrestha owns the remaining 20 percent.