Kathmandu. Kamana Sewa Bikas Bank Limited has acquired the promoter share of Aakash Capital Limited to operate the company as its subsidiary. The bank has already received approval from Nepal Rastra Bank to operate the company as a subsidiary company.
Earlier, the bank and Aakash Capital Limited had signed an agreement to buy and sell promoter shares. With the approval from Nepal Rastra Bank, the bank will start merchant banking services after completing the necessary approval and registration process from the Securities Board of Nepal (SEBON).
Presently in the name of Aakash Capital, the company will be operated as “Kamana Sewa Capital” with the subsidiary company of Kamana Sewa Bikas Bank Limited. According to the bank, the opening of the service will expand the scope of the bank and contribute positively to the development of the capital market of Nepal.
