Kathmandu: Kamana Sewa Bikas Bank has announced its entry into merchant banking by acquiring founder shares of Akash Capital Limited and converting it into a subsidiary company.
The bank confirmed that it has already received approval from Nepal Rastra Bank to operate the company as its subsidiary. Before this, an agreement had been signed between the two parties for the purchase and sale of founder shares.
Following the central bank’s approval, the bank will now proceed with the required permissions and registration processes from the Securities Board of Nepal in line with prevailing securities laws and regulatory provisions before formally launching merchant banking services.
After becoming a subsidiary, the company—currently operating under Akash Capital—will be rebranded as “Kamana Sewa Capital Limited.” The bank believes this move will not only expand its service portfolio but also contribute positively to the development of Nepal’s capital market.
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