Monarch Networth Capital Ltd. on Sunday, July 28, announced that it will issue one bonus share for every one share held by shareholders as on the record date.
Record date for the said bonus issue is yet to be determined.
This will be the first instance of the company considering an issue of bonus shares to shareholders. The company has never split its stock either. However, the company has issued dividends to its shareholders.
In an exchange filing, the company said, "Approved issue of bonus shares by way of capitalisation of reserves, to the equity shareholders of the company in the ratio of 1:1 i.e., one new fully paid-up equity shares of ₹10 each for every one existing fully paid-up equity share of ₹10 each held by the eligible shareholders as on the record date (to be determined by the Board) subject to approval by members and any other applicable statutory and regulatory approvals."
The company has also secured an equity fund raise of ₹300 crore at ₹ 560 per share through preferential allotment.
The board of the company has approved increasing the authorised share capital from existing ₹65 crore to ₹100 crore-, the filing added.
The companies issue bonus shares to capitalise on their free reserves, increase their Earnings Per Share (EPS) and paid-up capital, along with reducing the reserves. Shareholders are issued these shares at no additional cost and hence are also known as free shares.
Only those investors will be eligible for bonus shares who will buy the stock before the ex-date. If an investor purchases the shares on the ex-date or after that, they will not be eligible to get bonus shares.
Shares of Monarch Networth Capital Ltd. settled 1.76% higher at ₹618 apiece on the NSE on Friday. At the current levels, the company commands a market capitalisation of ₹2,074 crore.
The stock has risen over 40% so far in 2024 and is up 90% over the last 12 months.
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Name of the Company has changed from Networth Stock Broking Limited to Monarch Networth Capital Limited upon Certification of Incorporation received from Registrar of Companies, Mumbai vide certificate dated 13th October, 2015.
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Monarch Networth Capital Limited (‘MNCL’) | CIN No.: L65920GJ1993PLC120014
Unit No. 803-804A, 8th Floor, X-Change Plaza, Block No. 53, Zone 5, Road-5E, Gift City, Gandhinagar - 382355, Gujarat
Ahmedabad
“Monarch House”, Opp Prahladbhai Patel garden, Near Ishwar Bhuvan, Commerce Six Roads, Navrangpura, Ahmedabad - 380009
Mumbai
Monarch Networth Capital Limited, G Block, Laxmi Tower, B Wing, 4th Floor, Bandra Kurla Complex, Bandra East, Mumbai - 400051.
Email for Grievance: grievances@mnclgroup.com
Investors are requested to note that Stock broker (Monarch Networth Capital Ltd) is permitted to receive money from investors through designated bank accounts only named as Up streaming Client Nodal Bank Account (USCNBA). Stock broker (Monarch Networth Capital Ltd) is also required to disclose these USCNB accounts to Stock Exchange. Hence, you are requested to use following USCNB accounts only (Click to View) for the purpose of dealings in your trading account with us. The details of these USCNB accounts are also displayed by Stock Exchanges on their website under “Know/ Locate your Stock Broker".
Mechanism for addressing grievances and information about SCORES.
Mechanism for addressing grievances and information about SCORES.
Monarch Networth Capital Limited (‘MNCL’) | CIN No.: L65920GJ1993PLC120014
(As per LODR Regulations and Companies Act, 2013)
Contact information of the designated officials of the listed entity who are responsible for assisting and handling investor grievances : Mr. Nitesh Tanwar
Monarch Networth Capital Limited
Unit No. 803-804A, 8th Floor, X-Change Plaza, Block No. 53, Zone 5, Road-5E, Gift City, Gandhinagar - 382355, Gujarat
Ahmedabad
“Monarch House”, Opp Prahladbhai Patel garden, Near Ishwar Bhuvan, Commerce Six Roads, Navrangpura, Ahmedabad – 380009
Mumbai
Monarch Networth Capital Limited, G Block, Laxmi Tower, B Wing, 4th Floor, Bandra Kurla Complex, Bandra East, Mumbai - 400051.
Phone: 022 - 66476400 / 66476405
Email: cs@mnclgroup.com
Email for Grievance: cs@mnclgroup.com
Listing of Equity Shares on Stock Exchange at
BSE
NSE
(Formerly known as Link Intime India Private Limited)
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