Banking News – NLG Insurance Company Limited has acquired 100 founder shares of Himalayan Bank Limited, according to a public notice issued by the bank.

The bank stated that it has initiated the process of transferring the 100 founder shares, previously owned by Jayanta Kumar Agrawal, to NLG Insurance.

According to Himalayan Bank, existing founder shareholders were initially given the opportunity to purchase the shares. However, after receiving no applications during the stipulated period, the shares were opened for purchase by the general public, firms, and organized institutions.

NLG Insurance applied for the shares under this process.

The bank further stated that if no claims or objections are received within seven days from the date of the public notice, the 100 founder shares will be officially transferred to the name of NLG Insurance Company Limited.