Press Release28 Jul 2024, 06:24 pm
Monarch Networth Capital Secures Rs 300 Crore Fund Raise, Announces 1:1 Bonus Issue
AI Summary
Monarch Networth Capital Ltd., an integrated financial services firm, has announced a strategic fund raise of Rs 300 crores at Rs 560 per share through preferential allotment. The company has also approved a 1:1 bonus issue of shares. The net profit of the company has grown significantly from Rs. 2 crores in FY-20 to Rs. 123 crores in FY-24. The funds will be used to launch a PMS offering, scale the Margin Trading book, launch a Pre IPO fund, apply for a Mutual Fund license, strengthen the Debt Capital Market division, underwrite IPOs, and more. The fundraise is led by the Promoter group entity Monarch Infraparks Private Limited and the company’s CEO Gaurav Bhandari.
Key Highlights
- Monarch Networth Capital secures Rs 300 crore fund raise
- 1:1 bonus issue of shares approved
- Company's net profit grew from Rs. 2 crores in FY-20 to Rs. 123 crores in FY-24
- Funds to be used for strategic initiatives across diverse business verticals
- Appointment of MSKA & Associates as the auditor of the company