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Monarch Networth Capital Approves Share Capital Increase and Bonus Issue

Monarch Networth Capital Announces Major Financial Decisions

Monarch Networth Capital Limited has made significant financial decisions, including an increase in authorized share capital, issuing equity shares on a preferential basis, and announcing a bonus issue. These decisions were approved at the board meeting held on July 28, 2024.

Key Decisions from the Board Meeting

Increase in Authorized Share Capital

Details:

• Previous Authorized Share Capital: Rs. 65,00,00,000
• New Authorized Share Capital: Rs. 100,00,00,000

Impact:
This increase aims to support the company’s growth plans and upcoming financial activities, ensuring sufficient capital for future projects.

Preferential Issue of Equity Shares

Details:

• Number of Shares: 53,60,951
• Face Value: Rs. 10 per share
• Issue Price: Rs. 560 per share (including Rs. 550 premium)
• Total Consideration: Rs. 300,21,32,560

Investors:

• Monarch Infraparks Private Limited
• Gaurav Bhandari
• Sanskrut Tradecom Private Limited
• India Opportunities Growth Fund Ltd – Pinewood Strategy
• GPR Finance Corp
• Founders Collective Fund
• Sajjan Bhajanka
• Goodday Enterprises LLP
• Rajuldevi Chowdhary
• Pranav Amin
• Sherisha Technologies Private Limited
• Rakesh Shah
• Shreeyansh Edutrade LLP
• Ashokbhai Shah
• JVS Holdings LLP
• Rashesh Bhansali
• Mirali Shah
• Meenaben Shah
• Priyanka Koradiya
• Anubhuti Value Trust – Anubhuti Value Fund 2
• Bhadreshkumar Shah
• Sudhir Shivji Bheda Jointly with Kalpana Bheda
• Seltron Resource Solutions LLP
• Binita Doshi
• Nipa Doshi
• Bindiya Doshi
• Pankaj Chimanlal Doshi
• Sagar Shah
• Rajasvee Shah

Bonus Issue Announcement

Details:

• Bonus Ratio: 1:1 (One new fully paid-up equity share for every one existing fully paid-up equity share)
• Total Shares Issued as Bonus: 3,92,30,469
• Free Reserves/Share Premium Required: Rs. 39,23,04,690

Capitalization:
The bonus shares will be issued by capitalizing the share premium account.

Estimated Date:
The bonus shares will be credited within two months from the date of board approval, latest by September 27, 2024.

Extraordinary General Meeting (EGM)

Date: August 22, 2024
Purpose:
To seek shareholder approval for the above decisions, including the increase in authorized share capital, preferential issue of equity shares, and the bonus issue.

Appointment of New Statutory Auditor

Firm: M/s. M S K A & Associates (ICAI firm Registration Number: 105047W)
Term: Five years, effective from the date of the ensuing AGM till FY 2029-30.