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CG Corp Global to list Indian subsidiary on bourses by 2020, expand offerings

Press Trust of India  |  New Delhi 

CG India, maker of the instant Wai, plans to launch its IPO in 2020, and diversify its offerings by extending its product range in several new segments, said a top

The company is expecting to grow production capacity of instant over two fold, from 2.5 billion packets per year to 5 billion packets, by 2020.

Besides, (the parent company), also has plans to enters segments such as personal care, home detergents (with a new brand) and to diversify its popular brand into segments as and others, including cereals.

"Our company CG India, which owns our global assets, will go for an initial public offer (IPO) in 2020," told PTI.

has a turnover of around Rs 1,000 crore.

The company is forming a joint venture with a European firm for personal care products, and plans to enter the markets by 2019, he added.

"In Nepal, we have already started in all the essential commodities and personal care (through different brand) and food," he added.

CG Corp competes in the instant segment with Swiss FMCG Nestle, which is the with its Maggi portfolio.

Besides, the company is also setting up manufacturing operations in four markets -- Kazakhstan, Egypt, and -- to expand its global footprints.

"We have just finalised to acquire a plant in The has already given us land, and we are going to be near in one years' time," he said adding that "in Bangladesh, we are opening this month".

According to him, plant would cater to the market also, while is for and middle-east markets, and would serve the (CIS) countries.

It also has a plant in Belgrade, Serbia, which caters the east-European market.

"We are expanding our global footprint strategically to reach our 2020 plan to be a 5-billion packet company, which would make us a global firm," Chaudhary added.

CG Foods had set up a plant in in 2017.

Nepal-based is a diversified group and has interests in a diverse range of sectors -- including hospitality, banking, FMCG, cement, integrated industrial parks, and

CG Corp Global is Nepal's first and only billion-dollar corporation and is present in over 30 countries.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Sun, December 02 2018. 12:05 IST