BSE has launched an IPO index to track the value of stocks for two years after listing. The IPO index is similar to Sensex (which includes all the 30 sensex stocks) or the Bankex (this includes all the banking heavy weights). When the index was introduced there were 48 stocks in it. The BSE said its IPO index will track companies which have a market capitalisation of at least 1 billion rupees on listing day.
You can trade for these as if they are normal company shares. Even though they are a group of shares you cant trade them separately once you buy it. i.e. if you buy sensex then you can't sell RIL separately from the lot.
Looking at the history, it’s interesting to note that the IPO index is often rise at a faster pace than the market. However, BSE has states that a stock is included on the third day of its listing, and not at the price at which the stock was offered to the public. This takes away the listing gains that is often seen in the IPO market.
On the day IPO index was launched, some of the shares that are a part of it (in alphabetical order).
BGR Energy Systems
Brigade Enterprises
Edelweiss Capital
Everonn Systems
Future Capital Holding
Koutons Retail India
Mahindra Holiday Resorts
Motilal Oswal Financial Services
Mundra Port and Special Economic Zone
Omaxe
Onmobile Global
Power Grid Corporation of India
Puravankara Projects
Reliance Power
Religare Enterprises
Take Solutions
Transformers & Rectifiers
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