Kathmandu. Chandragiri Investment Group is going to issue initial public offering (IPO) to the general public.

The company is issuing 10 lakh units of shares worth Rs 10 crore. The first general meeting (AGM) of the company held on Saturday has approved the proposal to issue IPO.

The authorized capital of the company is Rs 50 crore. The AGM of the company has endorsed a proposal of distributing 4 percent cash dividend on the paid-up capital. The meeting elected 6 directors unopposed. Rajan Shrestha, Ram Raja Acharya, Prakash Man Shrestha, Dhirendra Shrestha, Shankar Maharjan and Birendra Shrestha have been elected unopposed. The AGM approved the annual report presented by Chairman Rajan Shrestha and the auditor’s report.

Chandragiri Investment Group Limited has invested in Indreni Mushroom Farm, The Nilay Hotels Limited, Cowley Vineyard Agro, Everest Color and Mero Kisarn among other companies, according to Chairman Rajan Shrestha.