Australians are being offered structured and regulated access to Indian markets, via the Australian Stock Exchange (ASX), with the launch of the India Equities Fund Limited (IEFL).
IEFL is the first ASX listed investment company with a portfolio dedicated to Indian equities and is looking to raise up to $200 million.
"India is on the verge of becoming a global economic power which deserves investors' consideration," said IEFL chief executive John Pereira.
"While almost every other major economy faces an ageing population, India will be one of the youngest nations for the next 50 years, further driving internal demand and capacity."
The funds portfolio consists mainly of large cap companies listed on the Bombay and National Stock Exchanges.
Kotak Mahindra (UK) Ltd, a 100 per cent owned subsidiary of India's Kotak Mahindra Bank, has been appointed as the investment manager by IEFL.
The offering requires a minimum subscription of $75 million ahead of its scheduled April 5 ASX listing.
The offer opened yesterday and closes on March 28.
