Monarch Networth Capital, an integrated financial services firm listed on exchanges, announced fundraising and the issuance of bonus shares following a board meeting on Sunday.
Today, the company informed stock exchanges that it has secured an equity fund raise of Rs 300 crores at Rs 560 per share through preferential allotment. Preferential allotment is a process where a company issues shares or convertible securities to a select group of investors.
The company’s board has also approved a 1:1 bonus issue of shares for its investors, according to a company stock filing. This means that for every share an investor holds, they will receive one additional share.
Monarch Networth Capital’s net profit has surged from Rs 2 crore in 2019-20 to Rs 123 crore in 2023-24, showcasing a consistent growth trajectory.
The newly secured funds will support Monarch Networth Capital’s various business verticals. The plans include launching 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.
Gaurav Bhandari, CEO of Monarch Networth Capital said, “This fundraise will empower us to accelerate our growth initiatives, innovate our offerings, and continue delivering exceptional value to our stakeholders,” said.
Managing Director Vaibhav Shah said, “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”.
With this fundraising, the net worth is projected to soar to Rs 700 crore by September 30, 2024, Shah added. The company currently operates in over 100 cities, with approximately 55 branches nationwide and a sub-broker network exceeding 900.
Take charge of your financial future with 'Resach' – Monarch Networth's cutting-edge trading app. Download now and immerse yourself in the exhilarating world of on-the-go trading. Our user-friendly interface ensures you stay in command, making trading powerful, simple, and convenient. Don't just trade; thrive with 'Resach.'
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.
If you are not satisfied with the resolution provided, you can lodge your complaint online at: https://scores.sebi.gov.in/
In case of grievance client can log on to the SMART ODR Portal, if they are unsatisfied with the response provided by us. Your attention is drawn to the SEBI circular no. SEBI/HO/OIAE/OIAE_IAD-1/P/CIR/2023/131 dated July 31, 2023, on “Online Resolution of Disputes in the Indian Securities Market”.
Purchase of REs only gives buyer the right to participate in the ongoing Rights Issue of the concerned company by making an application with requisite application money or renounce the REs before the issue closes. REs which are neither subscribed by making an application with requisite application money nor renounced, on or before the Issue closing date shall lapse and shall be extinguished after the Issue closing date. Please check your dp account for further details.
Please do not share your online trading password with anyone as this could weaken the security of your account and lead to unauthorized trades or losses.
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)
‘Investments in securities market are subject to market risks, read all the related documents carefully before investing.’
