Merger agreement between Laxmi Capital & Sunrise Capital

KATHMANDU: In a significant development, Laxmi Capital Market Limited and Sunrise Capital Limited have officially entered into a merger and amalgamation agreement.

The memorandum of understanding (MoU) was duly signed by Sumed Bhattarai, Chair of Laxmi Capital Market Limited, and Apach Kumar Yadav, Chair of Sunrise Capital Limited.

Notably, Laxmi Capital Market Limited’s primary institution, Laxmi Bank Limited, completed its merger with Sunrise Bank Limited on the 13 July , 2023, officially becoming Laxmi Sunrise Bank Limited.

This merger will substantially increase the company’s paid-up capital to reach 48 crore rupees