Name: IPO PANTHERS Theme
Brand: smallcase
SKU: TIWENM_0001
Price: 28597 INR

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Nifty_SM100

IPO PANTHERS Theme

MANOJ KUMAR A

Thematic portfolio that primarily invests in companies that have recently gone public                            

✅ 1. Listing Recency (Time Since IPO)<ul><li>Only companies listed within the past 1 to 3 years.</li><li>Some funds may focus exclusively on new IPOs (within 12 months) to capture early-stage growth momentum.</li></ul>✅ 2. Market Capitalization<ul><li>Mostly mid-cap and small-cap stocks, though some large-cap IPOs (e.g., LIC, Paytm) are included.</li><li>Funds may impose a minimum market cap (e.g., ₹1,000 crore or $500 million) to ensure liquidity.</li></ul>✅ 3. Sector Inclusion/Exclusion<ul><li>Typically sector-agnostic, but actual exposure is often skewed toward:</li><li>Technology</li><li>Financial services (especially fintech)</li><li>Consumer brands</li><li>Healthcare/Pharma</li><li>Infrastructure/Real estate</li><li>Some funds exclude cyclical or PSU-heavy sectors.</li></ul>✅ 4. Liquidity Criteria<ul><li>Minimum average daily trading volume or turnover (e.g., ₹10–20 crore/day).</li><li>Helps avoid illiquid IPOs or microcaps.</li></ul>✅ 5. Fundamental/Quantitative Screens (Optional)Depending on whether the IPO fund is active or passive, the universe may also apply:<ul><li>Positive revenue/net profit growth YoY</li><li>Acceptable valuation multiples (e.g., P/E, P/S not too inflated)</li><li>Positive operating metrics like ROCE, ROE, etc.</li></ul>✅ 6. Index Inclusion (for Passive Funds)<ul><li>Funds like Motilal Oswal Nifty IPO Index Fund define the universe as:</li><li>Top 30 IPOs (by free-float market cap) from the last 3 years.</li><li>Must be listed on NSE.</li><li>Must meet liquidity and trading volume criteria.</li></ul>✅ 7. Exit Criteria<ul><li>Companies are removed from the IPO universe if:</li><li>They cross 3 years post-listing.</li><li>Liquidity falls below a threshold.</li></ul>

🔍 1. Define Your ObjectiveAsk:<ul><li>Are you seeking short-term momentum or long-term compounding?</li><li>Do you prefer active stock picking or a passive strategy?</li><li>What's your risk appetite?</li></ul>This will guide your choice of fund type (active/passive) and investment horizon.📘 2. Identify Available IPO-Based FundsSearch for mutual funds or ETFs with themes like:<ul><li>"IPO Fund"</li><li>"New Age Businesses"</li><li>"Innovation"</li><li>"Nifty IPO Index"</li></ul>📊 3. Analyze Fund DetailsLook at:A. Fund Basics<ul><li>Fund Name</li><li>Fund Type (Active/Passive)</li><li>Launch Date</li><li>Benchmark Index (e.g., Nifty IPO Index)</li><li>Assets Under Management (AUM)</li></ul>📈 4. Study Underlying IPO StocksAnalyze the top 5–10 holdings of the fund:<ul><li>Business model &amp; future potential</li><li>Profitability (EPS, ROCE, ROE)</li><li>Valuations (P/E, P/S, EV/EBITDA)</li><li>Growth drivers (industry tailwinds, product moat)</li><li>Promoter quality and governance</li></ul>📉 5. Assess Risk Factors<ul><li>High volatility due to new listings</li><li>Valuation risk (IPOs often come at premium)</li><li>Liquidity risk in small-cap IPOs</li><li>Underperformance if many IPOs flop or correct sharply post-listing</li></ul>🧾 6. Track IPO Pipeline (Future Outlook)Check the pipeline of upcoming IPOs:<ul><li>SEBI DRHP filings</li><li>Market buzz on large upcoming IPOs (OYO, Swiggy, FirstCry, etc.)</li><li>More quality IPOs = stronger pipeline = better opportunity for the fund</li></ul>

🔹 1. Time Since Listing<ul><li>Include only companies that have gone public within a defined window — typically last 3 years.</li><li>E.g., Nifty IPO Index includes stocks listed within 180–750 days (6 months to 2 years).</li></ul>🔹 2. Market Capitalization<ul><li>Minimum free-float market capitalization threshold (e.g., ₹500 crore or more).</li><li>Focus on mid-cap and large IPOs to ensure stability and investor interest.</li></ul>🔹 3. Liquidity Filter<ul><li>Must have a minimum average daily turnover (e.g., ₹10–20 crore on NSE).</li><li>Eliminates illiquid IPOs that are hard to exit.</li></ul>🔹 4. Trading Frequency<ul><li>Stocks must be regularly traded (e.g., 90% of trading days in last 6 months).</li><li>Ensures that only actively traded IPOs are considered.</li></ul>🔹 5. Sectoral Balance (Optional)<ul><li>Sector-agnostic by default, but fund managers may avoid:</li><li>Overexposure to a single sector (e.g., fintech, which is highly volatile)</li><li>Cyclical sectors in early phases (like metals, PSUs)</li></ul>🔹 6. Financial Metrics (Mostly for Active Funds)<ul><li>Revenue Growth: Positive CAGR over past 1–2 years post-listing</li><li>Profitability:</li><li>ROE &gt; 12%</li><li>ROCE &gt; 15%</li><li>EBITDA margins above peers</li><li>Valuation Discipline:</li><li>Reasonable P/E or EV/EBITDA (compared to industry)</li><li>Avoid overhyped or loss-making IPOs with sky-high valuations</li></ul>🔹 7. Governance &amp; Promoter Quality<ul><li>Strong institutional and promoter backing</li><li>No history of governance red flags</li><li>Prefer companies with anchor investors or marquee institutional support</li></ul>

📐 Key Factors:<ul><li>Conviction level: Higher weight to IPOs with strong fundamentals.</li><li>Valuation comfort: Lower allocation to overvalued stocks.</li><li>Sector allocation: Diversified exposure across sectors.</li><li>Risk exposure: Limit exposure to volatile or loss-making IPOs.</li></ul>⚖ Typical Allocation Style:<ul><li>Core holdings (high conviction): 5%–10% each</li><li>Tactical or new IPOs: 1%–3%</li><li>Max weight per stock: Usually capped at 10%–12%</li></ul>

This smallcase has a quarterly rebalance schedule. Once every quarter, the research team reviews this smallcase and realign the weights with the selected asset allocation strategy for the next quarter

IPO PANTHERS Theme

IPO PANTHERS Theme

Overview

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