February 11: NIBL Capital Markets Ltd has announced its merger with Ace Capital. Issuing a press statement on Sunday, February 11, NIBL Capital said that the unification has now come into effect with joint operations between the two companies under the brand name ‘NIBL Ace Capital’.

The post-merger paid-up capital of the consolidated entity has reached Rs 270 million, which is the highest paid-up capital in the Nepali capital market industry, the company claimed. 

“The post-merger business scenario is promising and the synergy created through this collaboration will reflect positively on future business prospects and services of the company,” reads the statement.

NIBL Ace Capital said it will cater to the combined Depository Participant (DP) services to more than 142,000 DEMAT accounts for its clients. It will also provide RTA/RTS services for 38 companies, with over 1 million shareholders. 

“The unification will increase the number of branches providing efficient services to our clients. At present, NIBL Ace Capital has four existing branches, and three more branches are in the pipeline. Furthermore, all branches of Nepal Investment Bank will provide services related to Depositary Participants,” the statement further said.