Nepal Finance Limited successfully purchased Lalitpur Finance Limited (NFS). Following the acquisition, both companies will begin working together on Ashad 27, 2078 BS transactions. The new corporation will be known as ‘Nepal Finance Limited.’ The swap ratio for the acquisition is set to 1:1. This means that for every 100 Lalitpur Finance shares, 100 Nepal Finance shares will be issued.
The initial acquisition agreement was signed by the directors and top management of both enterprises during a ceremony on Poush 23, 2077 BS. Dr. Hitendra Man Pradhan, Nepal Finance Chairman, and Deepak Maharjan, Lalitpur Finance Chairman, signed the agreement.
Lalitpur Finance was the first finance firm to be created with private sector investment, starting operations in 2051 BS.
Nepal Finance recently sold a quarter of its right-of-first-refusal shares for a total of 125 percent. After the right issue, it has a paid-up capital of Rs 30.56 crores. On the other hand, Lalitpur Finance has a paid-up capital of Rs 23.69 crores.
Prime Commercial Bank has previously planned to acquire Lalitpur Finance. However, the transaction was unable to take place. Lalitpur Finance merged with Nepal Finance following the end of the arrangement with Prime Commercial.