Garima Bikas Bank into merchant banking business with investment in KCL Astute Capital; restructured Garima Capital to have 51.20% stake in new merchant banking entity

Garima Bikas Bank and KCL Astute Capital have signed an agreement of share ownership transfer under which Garima Bikas Bank will now own 51.20% shares of the merchant banker.

The agreement was signed between CEO of the bank Mr. Gobinda Prasad Dhakal and chairman of the KCL Astute Capital Mr. Dipak Pandey amid a program.

Following the agreement, KCL Astute Capital will now be renamed as Garima Capital and will remain as the sister concern of the development bank, as per the media statement.