January 5, 2022 | Investopaper
Ghodighoda Laghubitta Bittiya Sanstha Limited (GGBSL) has successfully merged with Unique Nepal Laghubitta Bittiya Sanstha. After the merger, the joint operation will commence from Poush 30, 2078 BS in the name of ‘Unique Nepal Laghubitta Bittiya Sanstha Limited. The head office will be located at Kohalpur, Banke.
After the Due Diligence Audit (DDA), both the companies have agreed to merge in the ratio of 1:0.5. This means that every 100 shares of Ghodighoda Laghubitta will translate into 50 shares of the newly merged entity. Likewise, every 100 shares of Unique Nepal Laghubitta will convert into 100 shares after the merger.
Both microfinance companies had signed an MOU for merger/acquisition on November 6, 2020 [Karthik 21, 2077 BS]. After the merger agreement, the trading of shares of Ghodighoda Laghubitta is suspended in Nepse from November 8, 2020 [Karthik 23, 2077 BS].
The Special General Meeting (SGM) of Ghodighoda Laghubitta held on Ashwin 16, 2078 BS and SGM of Unique Nepal Laghubitta held on Ashwin 8, 2078 BS has already provided the approval for the merger. Similarly, Nepal Rastra Bank gave the permission on Ashwin 29, 2078 BS while the Office of Company’s Regsitrar approved the merger on Poush 20, 2078 BS.
Ghodighoda Laghubitta is a ‘D’ class microfinance licensed by Nepal Rastra Bank. It started the microfinance operation on June 12, 2016. At current, it has an operating area of 4-10 districts. The head office is located at Shri Pur Belouri, Kanchanpur. At the end of Ashad 2078 BS, the microfinance has a paid-up capital of Rs 2.76 crores.
Similarly, Unique Laghubitta Bittiya Sanstha is also regional microfinance with a working area of 4-10 districts. It commenced its microfinance operation on December 16, 2018. The head office is located at Kohalpur, Banke. It has a current paid-up capital of Rs 9.68 crores.
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