Nerude Laghubitta and Mirmire Laghubitta Receive Final Approval From NRB for Merger

Nerude Laghubitta Bittiya Sanstha Limited (NLBBL) and Mirmire Laghubitta Bittiya Sanstha Limited (MMFDB) have received final approval from Nepal Rastra Bank (NRB) for the merger.

As per the notice published in NEPSE, the letter issued by NRB dated Kartik 03 has provided final approval for a merger between the two microfinance companies.

Both companies signed an MoU for the merger on Poush 11, 2079. NLBBL has 65.33 lakh units of its IPO shares listed and MMFDB has 73.2 lakh units of its shares listed on the Nepal Stock Exchange (NEPSE). Therefore, the total paid-up capital of NLBBL is Rs. 65.33 Crores whereas the same of MMFDB is Rs. 73.2 Crores.

The swap ratio for the merger is fixed at 1:1 and the joint transaction will be commenced under the name "Nerude Mirmire Laghubitta Bittiya Sanstha Limited" after the successful merger.

As of writing, NLBBL and MMFDB have an LTP of Rs. 559.80 and Rs. 581 respectively.