The BSE has launched an IPO index which will track the values of companies for two years after listing. The threshold level for entry into this index is Rs 100 crs market cap. As of date the index has been constituted with 48 stocks and the highest weightage is to the power sector which has four heavy weights included in the index and has almost a 45% weight in the total index. They are Rpower, Powergrid, REC Ltd and Adani Power. The other sectors which have higher weightage include Finance, Transport services and housing related.
The market cap of the index on a free float adjusted basis is Rs 41,721.59 crs. The value of the index as of yesterday 24th August 2009 is 1947.54. The base value of the index is 1000 and the base date is 3rd May 2004.
BSE has listed out the guidelines for the index which are listed below.
- A company seeking listing on the Exchange after completion of IPO shall be considered eligible for inclusion in the index. Follow-on public issues shall not be considered for inclusion in the index.
- A scrip must have the minimum free-float market capitalisation of Rs. 100 crores on its first day of listing
- A scrip will be included in the index on the third day of its listing (T+2) subject to fulfillment of the minimum free-float market capitalisation criteria stated above.
- A scrip will be excluded from the index on the second Monday of the month after completion of two years of listing.
- At all time a minimum of 10 scrips shall be maintained in the index. In case, there are less than 10 companies on account of possible exclusion after two years, the exclusion of such company shall be delayed till such time new inclusion is made in the index.
- The maximum weight of any scrip shall be capped at 20%. The constituent weightage shall be reviewed at the time of inclusion/ exclusion of a scrip and on monthly rebalancing. However, between any rebalancing, weightage of any index constituent can exceed 20%
The list of stocks which number 48 as of date are appended below along with relevant data.
| BSE IPO Index Constituents: | |||||||
| Sr. No. | Code | Name | Mkt. Cap. (Rs. Cr.) on 21/08/2009 | Free-Float Adj. Factor | Capping Factor | Cap. Adjusted FF Mkt. Cap. (Rs. Cr.) | Weight in Index (%) |
| 1 | 533096 | Adani Power Ltd. | 22497.96 | 0.15 | 1.00 | 3374.69 | 8.28 |
| 2 | 532981 | Anu’s Laboratories Ltd. | 280.40 | 0.50 | 1.00 | 140.20 | 0.34 |
| 3 | 532935 | Aries Agro Ltd. | 67.95 | 0.50 | 1.00 | 33.97 | 0.08 |
| 4 | 533016 | Austral Coke & Projects Ltd. | 1489.22 | 0.30 | 1.00 | 446.77 | 1.10 |
| 5 | 532930 | BGR Energy Systems Ltd. | 2889.36 | 0.20 | 1.00 | 577.87 | 1.42 |
| 6 | 533006 | Birla Cotsyn (India) Ltd. | 78.01 | 0.70 | 1.00 | 54.60 | 0.13 |
| 7 | 532929 | Brigade Enterprises Ltd. | 1199.41 | 0.45 | 1.00 | 539.74 | 1.32 |
| 8 | 532931 | Burnpur Cement Ltd. | 55.17 | 0.55 | 1.00 | 30.35 | 0.07 |
| 9 | 532885 | Central Bank of India | 3942.40 | 0.20 | 1.00 | 788.48 | 1.94 |
| 10 | 532902 | Consolidated Construction Cons. Ltd. | 991.15 | 0.50 | 1.00 | 495.57 | 1.22 |
| 11 | 532903 | Dhanus Technologies Ltd. | 72.22 | 0.65 | 1.00 | 46.94 | 0.12 |
| 12 | 532927 | Eclerx Services Ltd. | 597.64 | 0.40 | 1.00 | 239.05 | 0.59 |
| 13 | 532922 | Edelweiss Capital Ltd. | 3215.38 | 0.65 | 1.00 | 2090.00 | 5.13 |
| 14 | 532920 | Empee Distelleries Ltd. | 256.81 | 0.30 | 1.00 | 77.04 | 0.19 |
| 15 | 532876 | Everonn Systems Ltd. | 527.70 | 0.60 | 1.00 | 316.62 | 0.78 |
| 16 | 532938 | Future Capital Holding Ltd. | 1653.00 | 0.20 | 1.00 | 330.60 | 0.81 |
| 17 | 532959 | Gammon Infrastructure Projects Ltd. | 1448.00 | 0.15 | 1.00 | 217.20 | 0.53 |
| 18 | 532980 | Gokul Refoils & Solvent Ltd. | 617.14 | 0.35 | 1.00 | 216.00 | 0.53 |
| 19 | 532951 | GSS America Infotech Ltd. | 229.84 | 0.45 | 1.00 | 103.43 | 0.25 |
| 20 | 532894 | Indowind Energy Ltd. | 212.69 | 0.35 | 1.00 | 74.44 | 0.18 |
| 21 | 532947 | IRB Infrastructure Developers Ltd. | 6235.15 | 0.30 | 1.00 | 1870.55 | 4.59 |
| 22 | 532881 | IVR Prime Urban Developers Ltd. | 469.90 | 0.25 | 1.00 | 117.47 | 0.29 |
| 23 | 532926 | Jyothy Laboratories Ltd. | 896.22 | 0.35 | 1.00 | 313.68 | 0.77 |
| 24 | 532889 | K.P.R. Mill Ltd. | 211.02 | 0.30 | 1.00 | 63.31 | 0.16 |
| 25 | 532942 | KNR Constructions Ltd. | 272.09 | 0.25 | 1.00 | 68.02 | 0.17 |
| 26 | 532924 | Kolte-Patil Developers Ltd. | 335.78 | 0.30 | 1.00 | 100.73 | 0.25 |
| 27 | 532901 | Koutons Retail India Ltd. | 1180.81 | 0.35 | 1.00 | 413.28 | 1.01 |
| 28 | 532997 | KSK Energy Ventures Ltd. | 6994.78 | 0.10 | 1.00 | 699.48 | 1.72 |
| 29 | 533088 | Mahindra Holiday Resorts Ltd. | 2719.78 | 0.15 | 1.00 | 407.97 | 1.00 |
| 30 | 532907 | Maytas Infra Ltd. | 499.35 | 0.60 | 1.00 | 299.61 | 0.74 |
| 31 | 532892 | Motilal Oswal Financial Services Ltd. | 2061.42 | 0.25 | 1.00 | 515.36 | 1.27 |
| 32 | 532921 | Mundra Port and Special Economic Zone Ltd. | 21163.86 | 0.20 | 1.00 | 4232.77 | 10.39 |
| 33 | 533015 | Nu Tek India Ltd. | 95.70 | 0.25 | 1.00 | 23.93 | 0.06 |
| 34 | 532880 | Omaxe Ltd. | 1831.13 | 0.15 | 1.00 | 274.67 | 0.67 |
| 35 | 532944 | Onmobile Global Ltd. | 3012.72 | 0.45 | 1.00 | 1355.72 | 3.33 |
| 36 | 532898 | Power Grid Corporation of India Ltd. | 45308.18 | 0.15 | 1.00 | 6796.23 | 16.68 |
| 37 | 532891 | Puravankara Projects Ltd. | 2592.04 | 0.15 | 1.00 | 388.81 | 0.95 |
| 38 | 533093 | Raj Oil Mills Ltd. | 323.37 | 0.30 | 1.00 | 97.01 | 0.24 |
| 39 | 532939 | Reliance Power Ltd. | 37485.95 | 0.20 | 1.00 | 7497.19 | 18.40 |
| 40 | 532915 | Religare Enterprises Ltd. | 2926.87 | 0.20 | 1.00 | 585.37 | 1.44 |
| 41 | 533017 | Resurgere Mines & Minerals India Ltd. | 246.31 | 0.20 | 1.00 | 49.26 | 0.12 |
| 42 | 532955 | Rural Electrification Corporation Ltd. | 16769.63 | 0.20 | 1.00 | 3353.93 | 8.23 |
| 43 | 532993 | Sejal Architectural Glass Ltd. | 110.74 | 0.50 | 1.00 | 55.37 | 0.14 |
| 44 | 532945 | Shriram EPC Ltd. | 770.48 | 0.20 | 1.00 | 154.10 | 0.38 |
| 45 | 532890 | Take Solutions Ltd. | 481.20 | 0.40 | 1.00 | 192.48 | 0.47 |
| 46 | 532966 | Titagarh Wagons Ltd. | 517.67 | 0.40 | 1.00 | 207.07 | 0.51 |
| 47 | 532928 | Transformers & Rectifiers Ltd. | 390.16 | 0.25 | 1.00 | 97.54 | 0.24 |
| 48 | 532883 | Zylog Systems Ltd. | 483.52 | 0.65 | 1.00 | 314.29 | 0.77 |
| Total Market Capitalisation | 40738.76 | ||||||
| Index Value on 21/08/2009 | 1901.67 | ||||||
