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.

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

Currently in the name of Aakash Capital, the company will be operated as ‘Kamana Sewa Capital Limited’ with the subsidiary company of Kamana Sewa Bikas Bank Limited. According to the bank, this will help expand the scope of the bank’s services and contribute positively to the development of the capital market of Nepal.