Rajendra Khetan Increases Stake in Laxmi Sunrise Bank, Invests Over Rs. 1.26 Arba

Prominent industrialist and the main investor in Laxmi Sunrise Bank, Rajendra Khetan, has significantly increased his stake in the bank by acquiring shares previously held by members of the Goyal and Guragain families. This strategic move further strengthens the Khetan family’s foothold in Nepal’s growing financial sector.

According to a reliable source from House of Raj, the business group led by Khetan has now accumulated approximately 7.5% ownership in the bank following the latest acquisition. “The shares were purchased at Rs. 100 per unit, which is a premium compared to the current trading price of promoter shares". The deal, which totals more than Rs. 1 Arba 26 Crores, was finalized before the end of Ashadh, ensuring that Khetan is entitled to the last fiscal year’s dividend.

Before this transaction, Rajendra Khetan held a 2.35% stake, equivalent to 54,55,945 units of shares. His wife, Sarika Khetan, already held 4.17% (96,69,298 units of shares), while his daughter, Sneha Khetan, owned 3.91% (90,56,904 units of shares). With this acquisition, Rajendra Khetan has expanded his stake, further consolidating the Khetan family’s collective influence over the bank.

Sources confirm that the shares were acquired from Kailash Chandra Goyal and his family, as well as Bhogendra Kumar Guragain and his family. Although the market price for promoter shares is currently below Rs. 100, Khetan agreed to the premium price on the condition that he would receive the full dividend from the previous fiscal year. “This share purchase aligns with House of Raj’s long-term strategy to focus on investments in the financial sector."

In parallel with this banking investment, House of Raj is also making a notable entry into Nepal’s fintech industry. The group has signed an agreement to purchase a 20% stake in the digital payment company PhonePe Nepal. The total investment for this acquisition is set at Rs. 1 Arba 40 Crores. The share purchase agreement has been submitted to the Nepal Rastra Bank (NRB) for approval. This dual investment strategy, expanding control in Laxmi Sunrise Bank and entering the fintech space, signals a bold move by Khetan to integrate traditional banking with emerging digital finance platforms.