One index. The next decade of Indian equities.

On the second anniversary of our rebrand to Z47, we're launching Z47^fortyseven, a free-float, market-cap weighted index tracking 47 VC-backed listed Indian technology, consumer, new-economy and financial-services companies.

With 5 years of new-economy IPOs, Indian digital investing has graduated to an exciting phase of value realization. Given their contribution to powering India's journey to a developed nation by 2047, we believe these companies deserve an index of their own.

Prior to Covid, very few companies in this index were listed. Since then 44 of these companies have listed, with a strong pipeline still ahead: a measure of how central these businesses have become to Indian consumers and global enterprises.

Today, the companies in this index account for ~3% of India's total market capitalisation, but we believe that over time this share could exceed 30%, as it has in the US and China. Z47^fortyseven exists to track that wealth-creation journey in real time. Given our founding inspiration of Viksit Bharat by 2047, we thought it was incumbent on us to track the companies contributing towards that goal.

Explore the index below: performance, constituents, top movers. Every month, we will share more Z47 Insights with our perspective on how the cohort is performing.

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MONTHLY TAKEAWAY · June 2026

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Going forward, we'll share this update every month and would greatly value your feedback as the index evolves. We look forward to your support as we track the companies building India's path to developed-nation status by the centenary of its independence.

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