1:1 Bonus Share Recommended: Small Cap Dividend Stock Gives Fundraising Update

Small cap company operating in stockbroking & allied industry, Monarch Networth Capital Ltd today recommended 1:1 bonus share for its investors. The company held meeting of Board of Directors today and approved an equity fundraise of Rs 300 crores at crores at Rs 560 per share through preferential allotment. The company's net profit has soared from Rs. 2 crores in FY-20 to Rs. 123 crores in FY-24 which signifies the company's unwavering commitment towards growth, according to the company's press release. Last trading price of Monarch Networth Capital share on BSE is Rs 612.35 per share. Monarch Networth Capital Ltd shares offered return of 143% in last 2-years and gained 97% in last 1-year.

The company recommended final dividend of Re 1 per equity share of Rs 10 each and fixed August 2 as the record date. More details below:

Monarch Networth Capital Recommends 1:1 Bonus Share On Weekend: As per the regulatory filing of Monarch Networth Capital issued as on July 28, 2024, "approved Issue of Bonus Shares by way of capitalization of reserves, to the equity shareholders of the Company in the ratio of 1:1 i.e., 1 (One) new fully paid-up Equity Shares of Rs. 10/- (Rupees Ten only) each for every 1 (One) existing fully paid-up Equity Share of Rs. 10/- (Rupees Ten only) each held by the eligible shareholders as on the Record Date (to be determined by the Board) subject to approval by members and any other applicable statutory and regulatory approvals."

Monarch Networth Capital Approves Fundraising: The BSE filing added, "approved issue of 53,60,951 fully paid-up equity shares of face value of Rs. 10/- each, on a preferential basis to identified persons for cash, at an issue price of Rs. 560/- per equity share (including Rs. 550/- as premium amount) aggregating of Rs. 300,21,32,560/-, subject to the approval of the shareholders of the Company and such other regulatory and / or statutory approvals, as applicable."

Monarch Networth Capital Declares Record Date For Final Dividend: The BSE filing of Monarch Networth Capital dated July 23, 2024 stated, "The Board of Directors at its meeting held on Friday, May 24, 2024 had recommended a final dividend of Re 1 per equity share of Rs 10 each of the Company for approval by the shareholders at ensuing Annual General Meeting ('AGM'). The Company has fixed Friday, August 2, 2024, as the Record Date for determining entitlement of Members to final dividend for the financial year ended March 31, 2024."

Monarch Networth Capital Share Performance: Monarch Networth Capital shares offered attractive returns of 17% in last 1-week, zoomed 40% year-to-date, and offered returns of 358% in last 3-years. Monarch Networth shares surged 2349% in last 5-years. The 52-week high price of Monarch Networth Capital share on BSE is Rs 690.30 per share (as on 16/02/2024) and 52-week low price is Rs 303.05 per share (as on 27/07/2023), respectively.

Monarch Networth Latest Financials: The company for the quarter ended June 30, 2024 declared its consolidated total income at Rs 84.95 crore, up 12.54% from last quarter total income of Rs 75.48 crore. It announced its net profit after tax in the latest quarter at Rs 40.06.

About: Monarch Networth Capital Limited is a financial services provider. It is specifically engaged in share and stock broking, merchant banking, and mutual fund distribution. The small cap company came into existence in 1993.

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