Vijaya Laghubitta Bittiya Sanstha to Issue 4,66,817 Unit FPO Shares to General Public from Poush 21

Vijaya Laghubitta Bittiya Sanstha Limited (VLBS) has published an offer letter to issue its Further Public Offering (FPO) to the general public.

The company will issue 4,66,817 unit shares of Rs 100 face value from 21st Poush, 2082, and intends to collect Rs 4.66 Crores from this FPO. The early closing date of this issue is 24th Poush, and if the issue still needs to be fully subscribed, it can be extended up to Magh 05, 2082.

NMB Capital Limited has been appointed as the issue manager for the FPO issuance. Applications can be placed for a minimum of 10 units and a maximum of 1,000 units.

ICRA Nepal has downgraded the issuer rating of Vijaya Laghubitta Bittiya Sanstha Limited from [ICRANP-IR] B+ to [ICRANP-IR] B, with the rating remaining on ‘Watch with Negative Implications’. This rating indicates a high risk of default in timely servicing of financial obligations. The rating reflects the company’s overall creditworthiness and is not linked to any specific debt instrument.

Incorporated in 2012 and operational since 2013, Vijaya Laghubitta Bittiya Sanstha Limited (VLBS) is headquartered in Dhulikhel, Kavre, with 135 branches across 44 districts as of mid-October 2025. Major promoters include Goodwill Finance (~11% stake) and Kumari Bank (~7% stake). VLBS merged with Naya Sarathi Laghubitta Bittiya Sanstha in July 2023 on a 1:1 share swap ratio. Post-merger, public shareholding fell to ~26%, prompting a proposed FPO to restore it to 30%. The company reported a net profit of NPR 32 million in Q1FY2026, with total assets of NPR 11,306 million, gross NPLs at 13.6%, and CRAR at 9.6%.

Offer Letter: