Chandragiri Investment Group hold 1st AGM, announces IPO worth Rs 100m

KATHMANDU: Chandragiri Investment Group is set to issue an initial public offering (IPO) of 1 million shares worth Rs 100 million, the company said after its first annual general meeting (AGM) on Saturday.

The AGM approved the IPO proposal and noted the company’s authorised capital of Rs 500 million. Shareholders also approved a cash dividend at 4% of the paid-up capital.

The meeting elected six directors unopposed. The directors elected are Rajan Shrestha, Ramraja Acharya, Prakash Man Shrestha, Dhirendra Shrestha, Shankar Maharjan and Birendra Shrestha.

The AGM passed the company’s annual report and the auditor’s report, which Chairman Rajan Shrestha presented. Chairman Shrestha said Chandragiri Investment Group, as a holding company, has invested in Indreni Mushroom Farm, The Nilaya Hotels, Kaule Vineyard Agro, Everest Colour and Mero Kishan.