Research prototype · 4 index versions

India FinTech Leaders Index

Designed to measure the performance of India-listed FinTech companies driving the digital transformation of financial services across payments, lending, insurance, wealth management, capital-markets infrastructure and financial software.

This index is provided solely for research purposes and is not an investible index or investment recommendation.

Market Cap · as of 04 Sept 2026

899.86-10.01% since base

USD/INR 95.00

Official launch: 05 Sept 2026Back-tested: 01 Jan 2025 – 04 Sept 2026Live from: 05 Sept 2026Base: 01 Jan 2025 = 1,000
Customto

Period return

-10.01%

1,000.00 → 899.86

Period high / low

1,006.54

Low 677.60

Volatility (ann.)

25.5%

420 trading days

Max drawdown

-32.68%

Peak-to-trough in window

Aggregate market cap

₹6.56L cr

$69.03bn · avg ₹5.46L cr

Constituents

24

6 reviews since base

India FinTech Leaders Index (FTMC) — market-cap weighted index level

01 Jan 2025 → 04 Sept 2026 · amber lines mark reconstitution dates

Sector allocation

Latest index weight by fintech sub-sector

  • Diversified fintech(1)24.12%
  • Broking & wealth(3)22.98%
  • Payments(10)21.76%
  • Insurance & insurtech(3)17.24%
  • Market infrastructure(4)12.21%
  • Financial software(1)1.47%
  • Digital banking(1)0.18%
  • Lending & credit(1)0.04%

Size distribution

Aggregate index market cap ₹6.56L cr · $69.03bn

  • Mega (> ₹1L cr)$40.66bn
    3 names · 58.90%₹3.86L cr
  • Large (₹25k–1L cr)$14.89bn
    3 names · 21.58%₹1.42L cr
  • Mid (₹5k–25k cr)$12.14bn
    8 names · 17.58%₹1.15L cr
  • Small (< ₹5k cr)$1.34bn
    10 names · 1.94%₹12,712 cr

Top 10 weights

Largest index weights under the selected version

Leaders

01 Jan 2025 → 04 Sept 2026

  • One 97 (Paytm)

    PAYTM.NS

    +68.03%

  • Angel One

    ANGELONE.NS

    +3.11%

  • PB Fintech

    POLICYBZR.NS

    -13.36%

  • Jio Financial

    JIOFIN.NS

    -21.03%

  • Go Digit General Insurance

    GODIGIT.NS

    -21.07%

* Added during the period; performance covers only the days it was in the index.

Laggards

01 Jan 2025 → 04 Sept 2026

  • MOS Utility

    MOS.NS

    -97.33%

  • AGS Transact Technologies

    AGSTRA.NS

    -97.09%

  • One MobiKwik Systems

    MOBIKWIK.NS

    -68.25%

  • Suvidhaa Infoserve

    SUVIDHAA.NS

    -64.77%

  • Fino Payments Bank

    FINOPB.NS

    -57.05%

* Added during the period; performance covers only the days it was in the index.

Interested in FinIndexLab?

For methodology questions, research collaborations or discussions about new index ideas, connect with Vivek Yadav, CFA, CAIA.

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