Bonus shares 2024: Monarch Networth Capital shares are one of the multibagger stocks the Indian stock market has delivered in recent years. The multibagger stock has risen from around ₹175 to ₹665 apiece on the NSE in the last two and half years, logging a nearly 275 percent rise. The board of directors of the multibagger stock has declared the issuance of bonus shares in a 1:1 ratio. Interestingly, the small-cap company has declared 1:1 bonus shares after announcing a record date for Re 1 (10% of the face value of ₹10 per share) per share dividend to the eligible shareholders.
The small-cap company informed Indian stock market exchanges about the bonus shares move, saying, "We wish to inform you that the Board of Directors of Monarch Networth Capital Limited (the "Company"), at its meeting held today i.e., Sunday, July 28, 2024, has 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."
Last week, the small-cap stock fixed the dividend record date, saying, “The Board of Directors at its meeting held on Friday, May 24, 2024, had recommended a final dividend of ₹1 per equity share of ₹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 the entitlement of Members to the final dividend for the financial year ended March 31, 2024. If the final dividend as recommended by the Board of Directors is approved at the ensuing AGM, payment of such dividend, subject to deduction of tax at source, will be made after the AGM.”
Monarch Networth Capital shares are available for trade on BSE and NSE. It has a market cap of around ₹2,200 crore, and its current trade volume on the NSE was 3.32 lakh by 12:30 PM on Monday. Its 52-week high is ₹690.30 apiece on the NSE, whereas its 52-week low is ₹303.05 per share.
Monarch Networth Capital Ltd., an integrated financial services firm listed on both stock exchanges, announces strategic fundraising following a decisive board meeting on Sunday. In a landmark move, the company is pleased to secure an equity fund raise of ₹300 crores at ₹560 per share through preferential allotment.
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