Monarch Networth Capital, an integrated financial services firm listed on exchanges, announced fundraising and issued bonus shares following a board meeting on Sunday.
The listed company informed stock exchanges today that it secured an equity fund raise of Rs 300 crores at Rs 560 per share through preferential allotment.
As per definition, preferential allotment is a process where a company issues shares or convertible securities to a select group of investors.
The company's board has approved a 1:1 bonus issue of shares for its investors, as per a company stock filing. Typically, for every share an investor has, they would get one extra share.
The company's net profit has soared from just Rs 2 crore in 2019-20 to Rs 123 crore in 2023-24, maintaining a consistent growth trajectory.
The newly secured funds will serve Monarch Networth's diverse business verticals. The plans include the launch of a Portfolio Management Services (PMS) offering, scaling the Margin Trading book, launching a pre-IPO fund, applying for a Mutual Fund license, strengthening the Debt Capital Market division, underwriting IPOs, and more.
"This fundraise will empower us to accelerate our growth initiatives, innovate our offerings, and continue delivering exceptional value to our stakeholders," said Gaurav Bhandari, CEO, as per the stock filing.
"The issue of 1:1 bonus shares is a gesture to showcase our gratitude and commitment to rewarding our investors' enduring belief in Monarch Networth's immense potential. The fresh capital will enable us to explore new avenues and enhance our service offerings. With this fund raise, our net worth is set to surge," said Vaibhav Shah, Managing Director.
With this fundraising, the net worth is set to surge to Rs 700 crore by September 30, 2024, Shah added.
As per the company, it is now present in over 100 cities with about 55 branches across the country and also has a sub-broker network of over 900. (ANI)
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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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