We focus on companies operating within the capital markets ecosystem—such as exchanges, brokers, depositories, and asset managers—that exhibit strong earnings growth and efficient capital allocation. These businesses are well-positioned to benefit from the structural rise in market participation, particularly the steady increase in SIP (Systematic Investment Plan) flows across India. Our approach follows the GARP (Growth at a Reasonable Price) philosophy, where we seek fundamentally strong companies with solid growth potential, but remain disciplined about valuations. We aim to capture long-term wealth creation from rising capital market activity without overpaying for future growth.