BSE Launches IPO Index

by khalid on 24/08/2009 · 0 comments

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Bombay Stock Exchange ( BSE ), Asia’s oldest bourse, launched an IPO Index today the 24th Aug. 09 to track the value of new stocks for two years after listing.

The BSE said its IPO index will track companies which have a free-float market capitalisation of at least 1 billion rupees on listing day. The IPO Index has 48 stocks at the moment. It will have at least 10 stocks at any point of time. The base date of the IPO Index is fixed as May 3, 2004 and the base value was set at 1000 points.

The launch of the IPO Index comes as new share offerings are making a comeback in India after a gap of 18 months, helped by a stock market rally. BSE Sensex has gained nearly 60 percent so far this year. In this scenerio of market comeback new IPO’s like Adani Power and NHPC Ltd have raised a combined $1.9 billion Oil India is expected to launch a new IPO very soon.

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