Asia Index Private Limited launches the S&P BSE Bharat 22 Index

An Index designed to help support the Government of India’s disinvestment program
Chandigarh, August 23, 2017: Asia Index Private Limited today announced the launch of the S&P BSE Bharat 22 Index. The Index is designed to track the performance of select blue chip government companies listed on the BSE. This index has been licensed to ICICI Prudential AMC for the development of an ETF.

The S&P BSE Bharat CPSE Index comprises of 22 select companies from the Central Public Sector Enterprises (CPSE), Specified Undertaking of the Unit Trust of India (SUUTI), and Public Sector Undertaking (PSU) Banks that are listed on the BSE Ltd. and disinvested by the Government of India. It covers all 6 BSE sectors which the CPSE, SUUTI and PSBs represent collectively. The Index is designed to be an investable index.

Alka Banerjee, CEO, Asia Index Private Limited, said “Divesting from publicly listed companies has been a key agenda item for the government. We are delighted to announce the launch of the S&P BSE Bharat 22 Index which will be used as a vehicle to help support the disinvestment process as well as increasing the passive investing footprint in India.”

“We are excited to see the launch of the S&P BSE Bharat 22 Index. The companies in this index have historically played an important role in developing the India story. We are happy to provide the platform to grow the passive investing experience for the retail investor.” said Ashishkumar Chauhan, MD & CEO, BSE.

The index is rebalanced annually in March. Individual stock and sector weight caps are applied during the annual rebalancing. The Index is calculated in Indian rupees, and U.S. dollars and will be calculated on a real-time basis.