Nepal Rastra Bank has approved the sale of a 22.37% stake in Fone Pay, valued at NPR 1.5 billion. Industrialist Rajendra Khetan becomes the largest new shareholder, while the company continues to lead Nepal’s QR-based digital payments market.
Nepal Verified News
Sat Sep 27 2025
Nepal Rastra Bank (NRB) has cleared the sale of 22.37 percent shares in Fone Pay Payment Service, one of Nepal’s largest digital payment companies.
Under the deal, co-founder Asgar Ali is selling 412,000 shares, while F1Soft International is offloading 740,011 shares, totaling about 1.15 million shares. The transaction is valued at around NPR 1.5 billion, putting Fone Pay’s market worth at roughly NPR 6.77 billion.
Industrialist Rajendra Khetan will emerge as the biggest new shareholder, acquiring 721,000 shares (about 14 percent stake). Other buyers include Nepal Impact Fund I, Sweda Investment, Laxmi Micro Investment, Parsa Holdings, Rapid Investment, Nepal Infrastructure Investment Fund, Nepal Impact Growth Equity Fund I, GGC Investment, and entrepreneur DJ Shrestha.
Founded in 2019 with investments from F1Soft International and Asgar Ali, Fone Pay is licensed as a Payment System Operator. It connects with nearly all banks and financial institutions, manages over 90 percent of QR-based payments in Nepal, and has also enabled cross-border transactions with India.
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