Sunrise Capital Ltd. and Laxmi Capital Markets Ltd. launch of integrated business

KATHMANDU: Sunrise Capital Ltd. and Laxmi Capital Market Ltd. merged with each other and from today’s date the integrated business has started as a huge merchant banking company of Nepal under the name of LS Capital.

On Mangsir 29 (Dec 15), LS Capital gained clearance from the company registrar’s office to do business under the name Laxmi Sunrise Capital Limited, and it intends to give more robust service facilities to all of its clients beginning today.

Today, in a ceremony held at the company’s headquarters in New Baneshwor, Mr. Sumed Bhattarai, previous Chairman of Laxmi Capital Market Limited, and Mr. Apach Kumar Yadav, Chair of Sunrise Capital Limited, declared the start of integrated business.

This merchant bank has been dedicated to the upliftment of the capital market for the past three decades, delivering the best quality of service to all of its clients, and the goal following the merger of the two organizations is to develop a separate identity with the most up-to-date service facilities.

Following the merger, Mr. Rajiv Sapkota became chair, while Mr. Bijay Lal Shrestha remained chief executive officer.

Furthermore, following the merger, Capital adopted the belief that the merchant banking and investment banking businesses that the company is currently conducting, by modernizing and expanding its services through technology and expanding its services in a stronger and stronger way with positive thinking, can establish a distinct identity in the securities market.

After the merger, the integrated paid-up capital of this merchant bank, which has been a historical success for 3 decades in Nepal’s capital market, has been fixed at 488.9 million.

The company has managed more than 200 securities issues for the public, 41 securities issues through tenders and 52 share guarantees.

Successfully managing seven mutual funds, including a specialized investment portfolio, with assets totaling around 6.4 billion from approximately 300 investors, the company has also established a Private Equity Venture Capital Fund, Laxmi Sustainable Energy Fund, worth 1 billion as part of its diverse financial management services, along with serving as the registrar for shares of 32 companies and successfully opening over 330,000 demat accounts.