NRB Approves Acquisition of Rastra Utthan Laghubitta (RULB) by Asha Laghubitta (ALBSL) In-principle

The Nepal Rastra Bank (NRB) has approved the Acquisition of Rastra Utthan Laghubitta (RULB) by Asha Laghubitta Bittiya Sanstha Limited (ALBSL) in-principle.

In a press release issued by Asha Laghubitta on Tuesday, it notified that the central bank has provided approval in principle to Asha Laghubitta to acquire Rastra Utthan Laghubitta.

Earlier, Nepal Stock Exchange (NEPSE) had issued an official circulation regarding the merger/acquisition between ALBSL and RULB.

On Chaitra 29, 2079, Asha Laghubitta, which has its registered (central) office at Banepa, and Rastra Utthan Lagubitta, which has its registered office in Sanga, had signed the initial memorandum of understanding (MOU). Accordingly, it had been agreed that Rastra Utthan Laghubitta will be acquired by Asha Laghubitta. 

The current paid-up capital of RULB and ALBSL is Rs. 26 Crores and Rs. 38.16 Crores, respectively. Last year, RULB had issued 8,50,000 units worth Rs 8.50 crore as Initial Public Offering (IPO) to the general public.