Kathmandu, Sept. 2 -- Khetan Group, one of the country's oldest and influential industrial conglomerates, has entered the country's digital payment ecosystem. Rajendra Khetan, chair of the group, has acquired a significant 14 percent stake in Fonepay, Nepal's leading digital wallet operator, signaling the group's aggressive push into financial technology.

According to Nepal Rastra Bank (NRB), Khetan purchased the stake as part of a larger deal in which ten investors collectively acquired 22.23 percent of the company's shares for around Rs1.49 billion. With this, the valuation of Fonepay has reached Rs6.67 billion.

The central bank confirmed that it had approved the change in shareholding structure of Fonepay, a subsidiary of the fintech...