After the successful acquisition of Nepal Agro Laghubitta, Infinity Laghubitta will commence the joint transaction from 4th Bhadra, 2078, under the name Infinity Laghubitta Bittiya Sanstha Limited
Nepal Agro Laghubitta Bittiya Sanstha Limited (NAGRO) has been acquired by Infinity Laghubitta Bittiya Sanstha Limited (ILBS). The central bank gave the approval on Shrawan 15. The trading of NAGRO was halted in NEPSE because the company had signed a Memorandum of Understanding (MoU) for merger and acquisition with NESDO Sambridha Laghubitta. However, Infinity Laghubitta Bittiya Sanstha Limited (ILBS) had later unveiled a notice stating that it has signed an acquisition agreement with Nepal Agro Laghubitta in which the former will acquire the latter.
The SGM of Infinity Laghubitta recently endorsed the board’s decision to acquire Nepal Agro Laghubitta and has fixed the share swap ratio at 100:98 shares between these organizations. The acquisition agreement was signed on Magh 26, 2077 by Mr. Balram Bista representing ILBS and Mr. Bibek Shrestha representing NAGRO. NAGRO is a microfinance company with its central office in Bindhyabasini, Pokhara - 18, Kaski. The company has an operational area of 10 districts. The paid-up capital after acquisition will be Rs. 32,59,08,646.