Everest Color Limited Announces Plan to Issue 15% Shares to Public in First AGM

Everest Colour Limited, a prominent paint company, held its first Annual General Meeting (AGM) on November 16, where it approved the issuance of 15% common shares to the public. The AGM also resulted in the election of five directors to represent the founder shareholders on the Board of Directors. Established 14 years ago, the company aims to boost the local economy, create jobs, and reduce imports by producing high-quality paints tailored to Nepali conditions.

With an authorized capital of NPR 30 crore and an issued capital of NPR 26 crore, the company plans to increase its paid-up capital after issuing the public shares. At the AGM, the elected directors included Saroj Luitel, Rajanlal Shrestha, Maheshwor Khanal, Rojina Shrestha, and Aatmaram Dhungana.

Having transitioned from a private to a public limited company five months ago, Everest Colour produces a wide range of interior and exterior paints suitable for Nepal's climate. The company is ISO 9001:2015 certified and uses advanced technology to ensure product quality and environmental responsibility. Everest Colour’s product range includes paints with long warranties and industrial coatings, with plans to launch new products in the future.