Monarch Networth Capital raises ₹300 crore led by Promoter, CEO, and investors. Approves 1:1 bonus share issue, plans major strategic initiatives, and appoints new auditor.
On July 28, 2024, Monarch Networth Capital Ltd, an integrated financial services firm listed on both stock exchanges, announced a strategic fundraising and a bonus share issue following a decisive board meeting. The company has secured an equity fundraising of ₹300 crore at ₹560 per share through preferential allotment.
This move is championed by Promoter group entity Monarch Infraparks Private Limited with an investment of ₹99 crore and the company’s CEO Gaurav Bhandari contributing ₹25 crore, underscoring their confidence in the company’s ambitious growth trajectory. The board has also approved a 1:1 bonus issue of shares for its investors. Monarch Networth’s net profit has soared from ₹2 crore in FY-20 to ₹123 crore in FY-24, demonstrating the company’s unwavering commitment to growth.
The newly secured funds will fuel strategic initiatives across Monarch Networth’s diverse business verticals, including 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, and underwriting IPOs.
In terms of governance, MSKA & Associates has been appointed as the new auditor, subject to shareholder approval at the upcoming AGM, and the company plans to enhance its board with experienced industry professionals. These steps mark a significant milestone in Monarch Networth Capital’s journey towards a promising future.
Regarding the announcement, Mr Gaurav Bhandari, CEO of MNCL, said, “This is a pivotal moment in Monarch Networth’s journey. The overwhelming support from our investors reflects their confidence in our vision and our strategic direction. This fundraise will empower us to accelerate our growth initiatives, innovate our offerings, and continue delivering exceptional value to our stakeholders. At Monarch Networth, where value creation begins, we are committed to transforming every investment into substantial benefits for our clients, partners, and community. Together, we are not just building a company; we are shaping a legacy of excellence and innovation in the financial services industry.”
Since 2019, Monarch Networth has undergone a remarkable transformation. The company has grown from a traditional offline retail broking firm into a dynamic, fully integrated financial services powerhouse.
On July 29, 2024, Monarch Networth Capital Ltd’s share price opened at ₹659.85, touching the high of ₹665.10 as of 09:42 AM on the NSE.
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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 - 382050, 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 - 382050, 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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