Kathmandu. Kamana Sewa Bikas Bank Limited has acquired promoter shares of Aakash Capital Limited and operated the company as its subsidiary. The bank has already received approval from Nepal Rastra Bank to operate the company as a subsidiary company.

Prior to this, the bank and Aakash Capital Limited had signed an agreement to buy and sell promoter shares. With the approval from Nepal Rastra Bank, the bank will start merchant banking services after completing the necessary approval and registration process from the Securities Board of Nepal (SEBON).

The company will be operated as ‘Kamana Sewa Capital Limited’ after being a subsidiary of Kamana Sewa Bikas Bank. According to the bank, the opening of the service will expand the scope of the bank and contribute positively to the development of the capital market of Nepal.