Funds raised will help expanding diverse business verticals of the brokerage
Shares of Monarch Networth Capital Ltd (MNCL) on Monday jumped 6.6 per cent to ₹653 on the BSE after the company announced fundraising and bonus issues. The company said it has raised ₹300.21 crore through a preferential issue of about 53.61 lakh shares at ₹560 each to 29 investors, who included promoter group entity Monarch Infraparks Private Ltd (₹ 99 crore) and the company’s CEO Gaurav Bhandari (₹25 crore).
The board has also approved a 1:1 bonus issue.
The funds will catalyze strategic initiatives across Monarch Networth’s diverse business verticals. The plans include launching a PMS offering, scaling the margin trading book, launching a pre-IPO fund, applying for a mutual fund licence, strengthening the debt capital market division, underwriting IPOs, and more, it said in a notice to the stock exchanges.
Gaurav Bhandari, CEO of MNCL, said the fundraising will empower the company to accelerate its growth initiatives, innovate offerings, and continue delivering exceptional value to its stakeholders.
Vaibhav Shah, Managing Director, MNCL, said, “The fresh capital will enable us to explore new avenues and enhance our service offerings. “With this fundraise, our net worth is set to surge to ₹700 crore by September 30,” he added.
The board has approved the appointment of MSKA & Associates as the company’s auditor.
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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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