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Shah, Sweety Nishant
- Initial Performance of IPOs in India: Evidence from 2010-2014
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1 L.J. Institute of Management Studies, Gujarat Technological University, IN
1 L.J. Institute of Management Studies, Gujarat Technological University, IN
Source
SAMVAD: International Journal of Management, Vol 9 (2015), Pagination: 77-86Abstract
In this paper, we studied listing day performance pertaining to 113 IPOs in India during January, 2010 to December, 2014, listed in National Stock Exchange(NSE) India. We found that there is, on the average, significantly positive return on the listing day. The Market Adjusted Abnormal Returns (MAAR) of all sample Initial Public Offers (IPO) companies were 7.19%. It is observed that IPOs are initially underpriced. We have applied t-test to verify the returns and mean initial return of 7.19% and proved that average returns are significantly lower and also compare to historical returns of IPO. Regression model has been used to analyse the relationship between degree of underpricing with independent variables such as issue price, issue size, issue oversubscription and market index return. The result of regression analysis shows that there was no significant relationship between the degree of underpricing and explanatory variables except oversubscription of issue. The study suggests that investors can make their investment in new issues as IPOs are underpriced in initial days.Keywords
Market Adjusted Abnormal Returns (MAAR), Initial Public Offers (IPO), Issue Price, Issue Size, Issue Oversubscription, Underpricing.Full Text
References
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- Payment Banks:Changing Indian Payments Landscape
Abstract Views :205 |
PDF Views:72
Authors
Affiliations
1 Finance at LJMBA, L.J. Institute of Management Studies, Gujarat Technological University (GTU), IN
2 Marketing at LJMBA, L.J. Institute of Management Studies, Gujarat Technological University (GTU), IN
1 Finance at LJMBA, L.J. Institute of Management Studies, Gujarat Technological University (GTU), IN
2 Marketing at LJMBA, L.J. Institute of Management Studies, Gujarat Technological University (GTU), IN
Source
SAMVAD: International Journal of Management, Vol 19 (2019), Pagination: 12-19Abstract
The banking system and financial transactions have taken paradigm shift in recent decade in India. The present era has entered into smartphone to smart wallet and they have become mainstream mode of online payment. Mobile users use digital payment gateway and e-commerce applications to facilitate financial transactions to online retailers and e-businesses. Demonetization has also envisaged progressive shift to cashless economy. The study was conducted to find out the dimensions and impact of various demographic factors on the usage of payment banks in the Ahmedabad district of Gujarat. The payment banks show a rapid growth and identified dimensions for the usage of payment banks are; user friendly, convenience, cost effectiveness, security and easy cash management. People look for the aforesaid factors while they transact through payment banks. It is observed that most of the people use Paytm, Freecharge and Jio money payment banks to transact and awareness has impact on the usability of payment banks for bill payment, recharge, ticket booking and shopping. Considering the demographic factors and its impact on the occupation, annual income and education on the usage of payment banks whereas age and annual income both impact the frequency of usage and average spending through payment banks.Keywords
Demonetization, Electronic Payment, Payment Bank.Full Text
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