Today, Monarch Networth Capital hit a high of 4.74 per cent to Rs 325 after raising Rs 252 crore through Monarch Alternative Investment Fund (AIF) in its second category-3 AIF. Both investment manager and sponsor of Monarch AIF. In October 2020, the first fund was launched by this company. Also, the company is planning to foray into the MF business.

Vaibhav Shah, MD of Monarch Networth Capital, said, “With this launch, we are moving a step closer to our aspiration of foraying into the mutual fund business; the application will be made to SEBI in this financial year.”

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The company has further plans to infuse Rs 1,000 crore in the next three years. This fund is to be used for debt syndication, enhancing the Sebi-approved fund-based activities, complete digitization of retail broking and setting up a bonds trading desk, strengthening the existing business. Additionally, there is a huge gap between its ability to leverage and its capabilities through various fund-based / non-fund businesses.

Vaibhav Shah commented, “We want to stick to our ethos of ‘value creation, and along the said lines, we wish to capitalize on our niche retail client base of over 3 lac clients through our well-curated and differentiated research services.”

The consolidated net profit of Monarch Networth Capital fell by 8 per cent to Rs 12.43 crore on a 2.1 per cent rise in total income to Rs 35.64 crore in the first quarter of FY23 over the first quarter of FY22.