Ashika Investment Managers has announced the launch of its Mid & Small Cap Fund, a strategy designed to tap into India’s most promising emerging businesses. Built on a proprietary 3R framework — Right Valuation, Right Vision, and Right Time — the fund aims to deliver medium- to long-term wealth creation by identifying companies where earnings growth and valuation re-rating are moving in tandem.
The fund adopts a disciplined investment model that prioritises scalable, well-governed enterprises with strong return ratios, prudent balance sheets and high growth visibility. Its selection criteria focus on companies with:
- Market capitalisation above ₹2,000 crore
- ROCE greater than 15%
- Growth potential exceeding 20%
- Manageable leverage
- Reasonable valuations
With India’s mid- and small-cap ecosystem undergoing a structural transformation driven by manufacturing expansion, consumption upgrades, market formalisation and rapid digital adoption, the fund seeks to capitalise on these multi-year shifts through a research-led and data-driven approach.
Ajay Arora, Co-Chief Executive Officer at Ashika Investment Managers, said,
“Mid and small caps today represent India’s most exciting transformation story. Many of these companies are entering phases of scale and profitability that were unimaginable a decade ago. With this fund, our endeavour is to give investors early access to tomorrow’s category leaders—businesses building competitive moats long before the market recognises them. We believe this is the right moment to participate in India’s next growth cycle with a structured and disciplined approach.”
Paras Bothra, Chief Investment Officer and Fund Manager, added,
“Our focus with this fund is straightforward select companies that demonstrate improving earnings strength, clean balance sheets, and industry tailwinds that support multi-year compounding. In the mid- and small-cap universe, separating enduring performers from short-lived momentum stories is critical. Deep bottom-up research and rigorous valuation discipline will drive our decision-making. The opportunity is large, but selectivity will be the key differentiator.”
Aligned with its vision of “the future is now,” Ashika Investment Managers will also leverage advanced technology and data science tools to uncover emerging leaders— “the Golds of tomorrow.”
Investors are advised to read the Private Placement Memorandum for detailed risk disclosures.
