Kathmandu. Chandragiri Investment Group Limited is going to issue initial public offering (IPO) to the general public. The first general meeting (AGM) of the company held on Sunday has endorsed the proposal to issue IPOs. The authorized capital of the company stands at Rs 50 crore.

The AGM also endorsed a proposal of distributing 4 percent cash dividend on the paid-up capital of the company and elected six directors unopposed.

The elected directors are Rajan Shrestha, Ram Raja Acharya, Prakash Man Shrestha, Dhirendra Shrestha, Shankar Maharjan and Birendra Shrestha. The AGM also approved the annual report presented by Chair Shrestha and the auditor’s report.

Shrestha, who is the holding company, has invested in companies including Indreni Mushroom Farm, The Nilay Hotels Limited, Cowley Vineyard Agro, Everest Color and Mero Kisan.