Monarch Alternative investment Fund (AIF) has successfully raised Rs252 crore in its second closed-ended cat-3 equity AIF fund. This capital has been raised from a set of UHNIs, corporates and family offices. The entire fund raise was through the group’s relationships, without appointing any intermediaries, said Vaibhav Shah, MD, Monarch Networth Capital.
He further added that with this launch, we are moving a step closer of foraying into mutual fund business; tile application will be made to SEBI in this financial year. We plan to generate superior risk-adjusted returns for our customers by investing in solid listed franchises which have a proven track record of consistency in cash flow, improving return ratios, healthy balance sheet. The first fund which was launched in October 2020, has been run on the same principles and has established positive track record.
Monarch Networth plans to infuse Rs1000 crore in the next three years. This money is proposed to be utilized in newer business such as debt syndication, setting up of a bond trading desk, strengthening existing business, enhancing the SEBI approved fund-based activities and complete digitalization of retail broking.
The group has reported a consolidated PAT of Rs57.8 crore in FY22. FY22 EPS stood at Rs18.6 and the Company has reported an industry-leading ROE of 41.9%. Net worth position remains healthy at Rs167 crore. The Company has seen a 3-year CAGR of 65.3% in its profitability.
At around 10:13 AM, Monarch Networth Capital was trading at Rs325 per share higher by 4.74% on the BSE.
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