Deprosc Laghubitta To Acquire Nadep Laghubitta
December 31, 2020 | Investopaper
Deprosc Laghubitta Bittiya Sanstha Limited (DDBL) is going to acquire Nadep Laghubitta. Both the microfinance have signed a preliminary memorandum of understanding (MOU) for acquisition on Wednesday.
The MoU has been signed by Deepak Khanal, Chairman of Deprosc Laghubitta, and Pitamber Prasad Acharya, Chairman of Nadep Laghubitta.
The swap ratio for the acquisition has not been finalized. It will be determined only after the Due Diligence Audit (DDA).
Trading of shares of Nadep Laghubitta will be suspended in Nepse from Thursday after the acquisition agreement.
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About Deprosc Laghubitta Bittiya Sanstha Limited
Deprosc Laghubitta Bittiya Sanstha Limited (DDBL) is a national level ‘D’ class micro-financial institution licensed by Nepal Rastra Bank. It started its operation on July 3, 2001. The head office is located at Bharatpur, Chitwan District.
Deprosc Laghubitta is promoted by Nabil Bank Ltd, Nepal Bank Ltd, Agriculture Development Bank Ltd, Lumbini Bikas Bank Limited, Development Project Service Center (NGO), CEAPRED (NGO) and former bankers.
As of Ashwin end 2077 BS (Mid-October, 2020 AD), Deprosc Laghubitta has a paid-up capital of Rs 100.54 crores. The microfinance has floated Rs 12.84 Arba as total loans and advances. [based on the unaudited first quarterly report of the fiscal year 2077/78].
About Nadep Laghubitta Bittiya Sanstha Limited
Nadep Laghubitta Bittiya Sanstha Limited is a ‘D’ class national level microfinance company of Nepal. The microfinance started its operation from May 15, 2015 AD. The head office is located at Gajuri 1, Dhading.
Nadep Laghubitta is promoted by DEPROSC Nepal, Nabil Bank Limited, Lumbini Bikas Bank (Former Lumbini Finance and Leasing Company Limited), and other promoters.
Nadep Laghubitta has a paid-up capital of Rs 40.48 crores.
Suggested Readings:
History Of Microfinance In Nepal
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