Kathmandu. The process of merger in the microfinance sector has begun. Jeeban Bikas Laghubitta, Unique Nepal Laghubitta and Manushi Laghubitta are all set to merge with each other.
The three companies signed a memorandum of understanding (MoU) for the merger on April 28. Prior to the merger, a preliminary agreement was reached on March 26 that only Jeevan Bikas and Unique Nepal Laghubitta would merge with each other. However, according to the latest decision, the tripartite merger has been confirmed after the addition of Manushi Laghubitta to these two companies.
With the merger process moving forward, the concerned body has been requested to suspend the trading of shares of the fundamental shareholders until the conclusion of the general meeting of the three institutions. Jeeban Bikas Laghubitta has its central office in Katahari, Morang while Unique Nepal Laghubitta has its central office in Kohalpur, Banke.
The central office of Manushi Laghubitta is located in Kavrepalanchowk. Presently, Jeevan Bikas Laghubitta has a paid-up capital of Rs 1.75 billion while Manushi Laghubitta has a paid-up capital of Rs 10.93 crore. Unique Nepal Laghubitta has a paid-up capital of Rs 14.85 crore.
