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Our Bureau

Mumbai, Feb. 15

Financial services company Atherstone Capital Markets has announced the launch of two IPO indices that are expected to serve as a new investment class for the global institutional investors in India.

Atherstone is a SEBI registered investment bank providing investment banking and advisory services to corporates and institutions.

“These indices will help in tracking the behaviour of the Indian primary markets and should be a very useful tool for all categories of investors interested in this class of asset,” Mr Gurunath Mudlapur, Chief Investment Officer, Atherstone Capital Markets, told reporters.

The two IPO indices launched are Atherstone India IPO Large Cap Index and Atherstone India Mid Cap Index. The IPO Large-Cap Index would comprise those companies with a minimum market capitalisation of Rs 400 crore or $100 million and the mid-cap index would include companies with a market cap of Rs 100 crore to Rs 400 crore ($25 to $100 million). Atherstone is also the first South Asian investment bank to launch a BRIC Index.

The company has selected most widely traded blue chip indices of Brazil (IBrX100), Russia (RTS 50), India (Nifty) and China (SSE50) as the index universe for Atherstone BRIC Index. The BRIC index would have 60 companies, 15 companies from each country. In another first of its kind, Atherstone also announced the launch of the first sectoral indices for BRIC countries — the three sectoral indices launched are BRIC Oil & Gas Index, BRIC Power Index and BRIC Bankex Index.

Explaining the rationale behind the launch of Atherstone BRIC Index, Mr Mudlapur said: “We believe that in the next 30 years, the phenomenal growth in the BRIC economies would make the GDP of the BRIC-4 economies almost equivalent to the GDP of today’s G6 nations.”

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Atherstone Capital launches IPO, BRIC Indices

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