Loop Networks Limited, Internet Service Provider, to Issue IPO

NIC Asia Capital offers "IDEA to IPO" services to companies in any sector by providing all necessary consulting services from the time of establishment to the stage of IPO issuance.

Under the same service, Loop Networks Ltd. will issue 4,00,000 ordinary shares at Rs. 100 face value each via an IPO to the general public, employees, and mutual funds. A bilateral agreement has been reached between the company and the capital regarding the appointment of NICA Asia Capital as the issue manager.

For more information on NIC Asia Capital's “IDEA to IPO” service, Damodar Rayamajhi, Head of Merchant Banking, can be contacted directly at 9851184979 or by email ideatoipo@nicasiacapital.com.

According to the company's website, Loop Networks Ltd. is an internet service provider in Nepal established with the motto of “Happy Customers”. The managing director and chairman Satish Pokhrel initiated the business to provide quality internet service in the Nepalese market in 2016. The company's basket of services includes Internet, IPTV, ICT, and network solutions. Loop Networks claims to be focused on providing fibre internet service through up-to-date technical infrastructure and 24×7 customer support.

The IPO will raise Rs. 4 crores in paid-up capital for the company. Note that the IPO proposal hasn't been approved by the regulator as of now. As such, the issue date hasn't been unveiled yet.