Internet service provider Broadlink is turning into a public company and will soon issue IPO (Initial Public Offering) soon. The company has received approval to go public from the Registrar’s office.
So far, the company has been working as Broadlink Network and communications Private Limited. But now, it will operate with as a “Limited” company with its shares being traded among the public.
Currently, the company is working on preparing for issuing its first-ever IPO.
Deputy Managing Director of Broadlink Network Sujan Thapa says the company is undertaking preparation to meet the criteria and issue IPO for the public.
The Company Act 2063 (First Amendment Act 2074) holds that a private communication company having paid-up capital of over 5 crores shall go public. The provision has allowed Broadlink to convert into a public company.