Merger between Rastriya Banijya Bank and NIDC receives final approval from Office of Company Registrar; Joint transaction to commence from Baisakh 19

Rastriya Banijya Bank has received final approval from the Office of Company Registrar to acquire NIDC Development Bank. The bank had already received approval from Nepal Rastra Bank for the same purpose on Chaitra 22, 2074.

Along with the final approval from the company registrar the joint transaction will soon take place on the pre decided date i.e. Baisakh 19.

The swap ratio for the acquisition has been maintained at 1:1 i.e. the shareholders of NIDC development bank will receive 1 share of Rastriya Banijya Bank in exchange of 1 share of NIDC Development Bank. Similarly, in case the shareholders do not want the shares of Rastriya Banijya bank, they will be receiving Rs 4,484.30 for 1 unit share of NIDC bank.