Monarch Networth Capital Ltd (MNCL, "the Company") being the Investment Manager and Sponsor of Monarch AIF (Alternative Investment Fund) - Category III, a SEBI registered fund as defined under Securities Exchange Board of India (Alternative Investment Funds) Regulations, 2012, has invested a sum of Rs. 5 Crores in a scheme of Monarch AIF i.e. MNCL CAPITAL COMPOUNDER FUND ('the Fund') for a period of 3 years (which can be extended by upto 2 years) and the same has been approved by the board in its meeting held on today i.e. Thursday, 22nd October, 2020 at 2.30 pm. MNCL CAPITAL COMPOUNDER FUND is a Category 3 long only AIF Equity fund which is launched by Monarch AIF.
MNCL Capital Compounder Fund recently raised a sum of Rs. 70.01 Crores (Rupees Seventy Crores One Lac Only) through its own distribution network.
Commenting on the fund raised, Vaibhav Shah - Managing Director said "This marks our entry into the fund based activity which is aimed at providing superior returns to clients. Monarch has a total base of over 2.5 lac retail clients and we expect the fund management business to grow meaningfully and become the major driver of our profitability going forward."
Shares of Monarch Networth Capital Ltd was last trading in BSE at Rs.22.3 as compared to the previous close of Rs. 23. The total number of shares traded during the day was 1390 in over 8 trades.
The stock hit an intraday high of Rs. 23.95 and intraday low of 22.25. The net turnover during the day was Rs. 32327.