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Need of the IPO Index: |
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Trend in IPO markets and a promising outlook for Indian Economy necessitated considering Primary markets as a different asset class. |
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Since 1st April, 2004 till date nearly 300 companies have come with IPO's and raised nearly Rs.1,20,000 crores (Source: Prime Database) |
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Huge appetite of the retail investors towards the Primary Markets. |
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These unique indices to help the investors to make informed investment and better decisions. |
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To have a proper benchmark for primary market as, this can be considered as a different asset class for investment with better returns. |
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Help the financial intermediateries and fund managers to benchmark their portfolio vis a vis IPO markets |
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| GUIDELINES FOR ATHERSTONE INDIA IPO LARGE CAP INDEX |
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Index Universe
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| The Index universe is defined as all IPO (Initial Public Offering) companies in the Indian equity market |
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Qualification |
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| For inclusion in the IPO Large cap index companies must have an IPO market capitalisation of above Rs. 400 crores based on the issue size and issue price. |
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Inclusion |
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| Companies are added immediately to the index on the trading of the first listing day based on the issue price. |
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Deletion |
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| Companies are removed from the IPO Index after the close of trading after six calendar months. |
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Specifics |
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| The index is calculated on free float market capitlisation methodology which is widely followed index construction methodology globally. A minimum of 7 index components would be maintained for the index at all times*. In case the number of index components would fall below seven because a company is set for removal, the respective component exit date is extended until a new component is added. The daily historical indices value is calculated from 01-01-2005. The base composition of the index is selected for the companies whose IPO has hit the market between 1st April, 2004 to 31st December, 2004 and base market capitalization of the index is calculated for the base composition by the closing prices as on 31st December, 2004. The index number is set as 1000.
* Unless the component count falls below 7 due to a corporate action, e.g. mergers, acquisitions, delistings. |
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Additions and Deletions |
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| The index composition is reviewed daily for additions and deletions from the index fulfilling the above criteria |
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Review Frequency |
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| The free float factors of the index would be reviewed half yearly. |
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| GUIDELINES FOR ATHERSTONE INDIA IPO MID-CAP INDEX |
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Index Universe |
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| The Index universe is defined as all IPO (Initial Public Offering) companies in the Indian equity market |
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Qualification |
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| For inclusion in the IPO Large cap index companies must have an IPO market capitalisation between Rs. 100 crores to 400 crores based on the issue size and issue price. |
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Inclusion |
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| Companies are added immediately to the index on the trading of the first listing day based on the issue price. |
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|
Deletion |
|
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| Companies are removed from the IPO Index after the close of trading after six calendar months. |
| |
|
Specifics |
|
|
| The index is calculated on free float market capitlisation methodology which is widely followed index construction methodology globally. A minimum of 7 index components would be maintained for the index at all times*. In case the number of index components would fall below seven because a company is set for removal, the respective component exit date is extended until a new component is added. The daily historical indices value is calculated from 01-01-2005. The base composition of the index is selected for the companies whose IPO has hit the market between 1st April, 2004 to 31st December, 2004 and base market capitalization of the index is calculated for the base composition by the closing prices as on 31st December, 2004. The index number is set as 1000.
* Unless the component count falls below 7 due to a corporate action, e.g. mergers, acquisitions, delistings. |
| |
|
Additions and Deletions |
|
|
| The index composition is reviewed daily for additions and deletions from the index fulfilling the above criteria |
| |
|
Review Frequency |
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| The free float factors of the index would be reviewed half yearly. |
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