Monarch Networth Capital announces fund raise and bonus issue, Promoters to infuse fresh capital

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.

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