Womi Laghubitta Signs Final Agreement For Merger With Grameen Swayamsewak Laghubitta

January 18, 2021 | Investopaper

Womi Laghubitta Bittiya Santha Limited has signed a final agreement for a merger/acquisition with Grameen Swayamsewak Laghubitta. The agreement was signed on Magh 4, 2077 BS [January 17, 2020]. Likewise, the company has requested to open the trading of shares of Womi Laghubitta.

Previously, both the companies signed an initial merger agreement on Bhadra 26, 2077 [September 11, 2020]. After the merger agreement, the share trading of Womi Laghubitta was suspended in Nepse. Womi Laghubitta last traded at Rs 914 [Bhadra 25, 2077].

Womi Laghubitta had already successfully merged with Nagarik Laghubitta. They have already started a joint transaction from Mangsir 30, 2076.

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Womi Laghubitta

Womi Laghubitta started its microfinance services from 25th of Falgun, 2068 BS. The Central Office is located at Bharatpur-12, Aastha Chowk, Chitwan.  It is a national level microfinance with 61 branch offices across Nepal. Womi Laghubitta is mainly promoted by women.

At the end of Ashad 2077, Womi Laghubitta has a paid-up capital of Rs. 27.78 crores. Likewise, the total reserve and surplus stood at Rs 18.13 crores. The microfinance had provided total loans and advances of Rs 2.29 Arba. In the fiscal year 2076/77, Womi Laghubitta earned a net profit of Rs 2.69 crores (Based on unaudited report).

Grameen Swayamsewak Laghubitta

Grameen Swayamsewak Laghubitta formally started its microfinance transaction from Aswin 15, 2075. The head office is located at Hariwon 11, Sarlahi. It has a working area of 8 districts of Province 2.

As of Ashad end 2077, Grameen Swayamsewak Laghubitta has a paid-up capital of Rs  4.20 crores with reserve and surplus of Rs 1.64 crores. The microfinance has floated loans of Rs 74.79 crores. In the fiscal year 2076/77, the company earned a net profit of Rs 1.08 crores. [Based on the Unaudited Fourth Quarterly Report, FY 2076/77].

The major promoters of microfinance include NIC Asia Bank (21.43 Percent) and Grameen Swayamsewak Samaj (25 Percent).

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