CG Corp, the company of Nepal's only billionaire Binod Chaudhary, is working on a strategy to take advantage of the ongoing boom in the IPO market in India and is considering listing to raise funds for its Indian unit. According to the plan, the company is considering raising funds before listing in early 2025 and getting listed in the market in the first quarter of 2026. The company is involved in different sectors and makes the famous noodle brand Wai Wai.

 

In a conversation with Bloomberg, Binod Chaudhary, chairman of parent group CG Corp, said that the Kathmandu-based group will use the funds raised before the IPO to expand its operations and it is expected that the company's Indian unit will be listed in the market in 2026. However, he did not give any further information about the fund raising plan. Wai Wai has a 28 percent share in India's instant noodles market and the company's annual revenue is more than Rs 8 billion i.e. about 95 million dollars. The company competes with Nestle's Maggi and ITC's Yippee brand. He also said that the group is planning to expand its business in Central and Eastern Europe and is looking for food and beverage firms for this in the region. The company is also working on expanding in Sri Lanka.

Bloomberg had earlier reported that CG Foods India is focusing on launching new products and acquiring small companies to achieve the target of 15 percent growth in annual revenue before listing. Chaudhary has expanded his business from selling noodles and now the group has reached from hospitality to infrastructure sector. Talking to Bloomberg, the chairman said that he is very positive about the partnership of Indian Hotels Company with the firm.