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Index Performance Chart
Return Summary
TOP MOVERS
Top Gainers
Top Laggers
Constituent · Latest snapshot
IPO Watch
Takeaways
73x IPO subscription and ~19% listing premium reflect strong public-market appetite for a scaled, profitable consumer rental platform, with QIB demand particularly strong at 177x.
A category leader, scaling a traditionally fragmented, offline category into a tech-enabled platform with 250K+ live subscribers.
Revenue doubled since FY24 while PAT increased ~5x, highlighting strong operating leverage.
Bulk and block trades
Disclaimer
Z47^fortyseven is published for informational purposes only and does not constitute investment advice, or any offer, solicitation, or recommendation to buy or sell securities. Index performance is historical and should not be construed as indicative of future results.
While reasonable care has been taken in compiling the information used in the index, no representation or warranty, express or implied, is made as to the accuracy, completeness, timeliness or suitability of the index or any related information. Neither Z47 nor any of its affiliates, partners, employees, officers, directors, agents or representatives shall have any liability whatsoever for any loss or damage arising directly or indirectly from the use of, reliance upon, or reference to the index or any information relating thereto.
MONTHLY TAKEAWAY · AUG 2026
Monthly Index Performance
Z47^fortyseven is up +44.8% since its January 2024 base date, versus Nifty 500's +20.8%, ahead by 2,400 bps.
The cohort moved +5.9% over the month versus Nifty 500's -1.5%, outperforming by 740 bps.
The index extended its lead, supported by strong Q1FY27 results and continued institutional appetite across IPOs and secondary trades.
Fintech was the best-performing sector at +9.6%, led by gains across payments / distribution platforms including Paytm, PolicyBazaar and Pine Labs
Top Gainers · Key drivers
Top Laggers · Key drivers
Key Themes · Latest Results
Q1FY27 results reflect stronger growth quality, with improving profitability and monetisation alongside market-share gains
Revenue across the cohort grew ~51% YoY and ~7% QoQ, while EBITDA margins expanded ~270 bps to ~7%
Sector-wise, Consumer Tech led revenue growth at ~64% YoY, with ~300 bps margin expansion and narrower losses at Meesho, Swiggy and Ather
Operating leverage is improving, with AI emerging as a strong growth vector
Market & Macro Context
India block and bulk deal activity hit ₹80,000+ crore in August, the highest monthly level in 14 months
FPI participation also strengthened, with Goldman Sachs and Morgan Stanley among active buyers across Paytm, Meesho and Lenskart
IPO Watch
Takeaways
Shiprocket: ~100x subscription and a ~35% listing premium reinforced public-market appetite for scaled ecommerce infrastructure and merchant enablement
Milky Mist: Listed at ~18% premium, highlighting demand for profitable, high-growth consumer challengers with strong brand and market-share characteristics
Read More
Recent approvals / filings
Takeaways
Atomberg: Filed for IPO (₹450 crore fresh issue plus an offer for sale of up to 76.5 million shares; total issue size not yet disclosed) extending the consumer-tech pipeline into premium, technology-led home appliances
Zetwerk: Filed updated DRHP (₹2,600 crore) bringing technology-enabled manufacturing closer to the public markets
Read More
Pushp Brand: Received SEBI approval reinforcing public-market appetite of profitable challenger consumer brands
Read More
Paramotor Digital: Received SEBI approval, strengthening fintech infrastructure as an emerging public-market category
Read More
Disclaimer
Z47^fortyseven is published for informational purposes only and does not constitute investment advice, or any offer, solicitation, or recommendation to buy or sell securities. Index performance is historical and should not be construed as indicative of future results.
While reasonable care has been taken in compiling the information used in the index, no representation or warranty, express or implied, is made as to the accuracy, completeness, timeliness or suitability of the index or any related information. Neither Z47 nor any of its affiliates, partners, employees, officers, directors, agents or representatives shall have any liability whatsoever for any loss or damage arising directly or indirectly from the use of, reliance upon, or reference to the index or any information relating thereto.
Constituent · Latest snapshot
Sector Composition . 47 Companies
Market Cap Classification
One month price movement · All constituents
Disclaimer
Z47^fortyseven is published for informational purposes only and does not constitute investment advice, or any offer, solicitation, or recommendation to buy or sell securities. Index performance is historical and should not be construed as indicative of future results.
While reasonable care has been taken in compiling the information used in the index, no representation or warranty, express or implied, is made as to the accuracy, completeness, timeliness or suitability of the index or any related information. Neither Z47 nor any of its affiliates, partners, employees, officers, directors, agents or representatives shall have any liability whatsoever for any loss or damage arising directly or indirectly from the use of, reliance upon, or reference to the index or any information relating thereto.
Methodology
01
Methodology
47 listed Indian new-age technology and new-economy financial-services companies selected for their role in India's transition to a developed economy by 2047
Free-float market-capitalisation weighted index, rebased to 100 on 1 January 2024; individual constituent weight capped at 10% (iterative redistribution)
For constituents listed after 1 January 2024, included from their first full trading day post-listing; no synthetic pre-listing prices are used
Constituent changes — portfolio units adjustment. When a constituent is added, removed, or replaced, constituent units are recalculated on the effective date so that the index level is unchanged at the moment of the change. The constituent change is value-neutral; subsequent index movements reflect only price changes of the new basket. This ensures the historical index series is continuous and free of artificial jumps from basket reconstitution.
Constituents reviewed quarterly — additions on listing, removals on delisting, prolonged suspension, or classification change
Price data sourced from NSE / BSE via Yahoo Finance with refreshed twice a day at market open & market close
From 29 September 2026, US-listed holdings are converted to INR using USD/INR. A value-neutral transition preserves published history through 28 September, which used the legacy mixed-currency basis. Returns spanning that date include both methodologies; benchmark comparison is against Nifty 500.
Sector classification: Fintech / Financial Services · Consumer / Consumer Tech · B2B · SaaS / AI
Scheduled snapshots: index updates during Indian market hours and after the US close; company data updates after Indian and US market closes. Provider and scheduling delays may occur. Refresh the page for the latest available snapshot; takeaways are updated monthly.
Market-cap categories are Z47-defined for analytical purposes. Thresholds broadly align with prevailing market-cap levels associated with AMFI's classifications
02
Inclusion Criteria
A company qualifies for Z47^fortyseven if it meets ALL of the following:
Listed on NSE, BSE, Nasdaq, or NYSE in the last decade, with an Indian founding team and India as a core market (with Info Edge, listed in 2006, and MakeMyTrip, listed in 2010, grandfathered as foundational predecessors)
Operates a new-age, technology-led, or category-creating business model
Has received institutional venture, growth-equity, or private-equity capital at some point in its lifecycle; i.e., not a pure promoter-only or family-conglomerate business
Minimum market capitalisation of ₹2,000 crore at the time of index entry
Added to the index from their first full trading day post-listing, provided all other criteria are met at that date
03
Review Policy
The constituent list is not static. Z47^fortyseven is reviewed quarterly and may be updated to reflect:
New listings that meet the inclusion criteria
Changes in business model, sector classification, or market cap that affect a constituent's eligibility
Delistings, prolonged suspensions, mergers, or material restructuring
Refinements to the methodology itself as the index matures
Cash generation is increasingly defining the winners, enabling market leaders to fund acquisitions and expansion from their own balance sheets.
Replacements and other constituent changes could happen in the future depending on new listings or changes to current companies due to any reason. Constituent changes are applied prospectively from the effective date, with a divisor adjustment to keep the index level continuous; they are not retroactively spliced into the historical series.
Disclaimer
Z47^fortyseven is published for informational purposes only and does not constitute investment advice, or any offer, solicitation, or recommendation to buy or sell securities. Index performance is historical and should not be construed as indicative of future results.
While reasonable care has been taken in compiling the information used in the index, no representation or warranty, express or implied, is made as to the accuracy, completeness, timeliness or suitability of the index or any related information. Neither Z47 nor any of its affiliates, partners, employees, officers, directors, agents or representatives shall have any liability whatsoever for any loss or damage arising directly or indirectly from the use of, reliance upon, or reference to the index or any information relating thereto.