{"id":24044,"date":"2026-01-18T22:37:56","date_gmt":"2026-01-18T17:07:56","guid":{"rendered":"http:\/\/www.sachdevajk.in\/?p=24044"},"modified":"2026-01-18T22:37:56","modified_gmt":"2026-01-18T17:07:56","slug":"relationship-of-investor-perception-towards-upcoming-indian-ipos","status":"publish","type":"post","link":"http:\/\/www.sachdevajk.in\/?p=24044","title":{"rendered":"Relationship of Investor Perception towards Upcoming Indian IPOs"},"content":{"rendered":"<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\"><b>Kiran Srinivas<\/b><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\">\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\"><b>Introduction about Upcoming IPOs<\/b><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\">Initial Public Offerings (IPOs) represent an important investment opportunity in capital markets, allowing companies to raise funds while offering investors a chance to participate in future growth. In recent years, several high-profile Indian companies such as\u00a0<b>Haldiram, Zepto, Reliance Jio, and PhonePe<\/b>\u00a0have generated strong interest among investors due to their brand recognition, market reach, and growth potential.<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\">Investor perception plays a crucial role in determining the success of an IPO. Factors such as company reputation, expected returns, risk perception, and industry outlook significantly influence investment decisions. Understanding whether investors perceive these upcoming IPOs differently can provide valuable insights into market sentiment and behavioural trends among potential investors.<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\">\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\"><b>Objective<\/b><\/p>\n<ul style=\"margin-bottom: 0in;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none;margin-top: 0in\" type=\"disc\">\n<li class=\"MsoNormal\">To study investor perception towards selected upcoming IPOs<\/li>\n<li class=\"MsoNormal\">To compare investor sentiment across Haldiram, Zepto, Reliance Jio, and PhonePe<\/li>\n<li class=\"MsoNormal\">To examine whether there is a statistically significant difference in investor perception using ANOVA<\/li>\n<\/ul>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\">\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\"><b>Literature Review<\/b><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\"><b>Article 1:<\/b><br \/>According to Ritter (1991), investor sentiment plays a major role in IPO pricing and post-listing performance. His study suggests that optimistic investor perception often leads to oversubscription, while weak sentiment can negatively impact listing gains. This highlights the importance of understanding pre-IPO investor behaviour.<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\"><b>Article 2:<\/b><br \/>Ljungqvist et al. (2006) emphasize that brand value, industry positioning, and perceived growth prospects significantly influence investor confidence during IPOs. Well-known companies tend to attract similar levels of investor interest, which may reduce observable differences in investor perception across such firms.<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\">\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\"><b>Data Collection<\/b><\/p>\n<ul style=\"margin-bottom: 0in;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none;margin-top: 0in\" type=\"disc\">\n<li class=\"MsoNormal\">Primary data was collected through a structured questionnaire<\/li>\n<li class=\"MsoNormal\">Respondents consisted of\u00a0<b>40 finance students studying at ITM<\/b><\/li>\n<li class=\"MsoNormal\">Each respondent rated their willingness and confidence to invest in selected upcoming IPOs<\/li>\n<li class=\"MsoNormal\">Ratings were given on a\u00a0<b>0\u201310 scale<\/b><\/li>\n<li class=\"MsoNormal\">The IPOs considered were:\n<ul style=\"margin-bottom: 0in;margin-top: 0in\" type=\"circle\">\n<li class=\"MsoNormal\">Haldiram<\/li>\n<li class=\"MsoNormal\">Zepto<\/li>\n<li class=\"MsoNormal\">Reliance Jio<\/li>\n<li class=\"MsoNormal\">PhonePe<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\"><b>Total number of observations:<\/b>\u00a0160 (40 respondents \u00d7 4 IPOs)<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\">\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\"><b>Data Analysis<\/b><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\">A\u00a0Single Factor ANOVA\u00a0was applied to test whether investor perception differs significantly among the selected IPOs.<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\"><b>Summary Statistics<\/b><\/p>\n<ul style=\"margin-bottom: 0in;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none;margin-top: 0in\" type=\"disc\">\n<li class=\"MsoNormal\">Haldiram\n<ul style=\"margin-bottom: 0in;margin-top: 0in\" type=\"circle\">\n<li class=\"MsoNormal\">Mean = 5.31<\/li>\n<\/ul>\n<\/li>\n<li class=\"MsoNormal\">Zepto\n<ul style=\"margin-bottom: 0in;margin-top: 0in\" type=\"circle\">\n<li class=\"MsoNormal\">Mean = 5.05<\/li>\n<\/ul>\n<\/li>\n<li class=\"MsoNormal\">Reliance Jio\n<ul style=\"margin-bottom: 0in;margin-top: 0in\" type=\"circle\">\n<li class=\"MsoNormal\">Mean = 4.64<\/li>\n<\/ul>\n<\/li>\n<li class=\"MsoNormal\">PhonePe\n<ul style=\"margin-bottom: 0in;margin-top: 0in\" type=\"circle\">\n<li class=\"MsoNormal\">Mean = 5.15<\/li>\n<\/ul>\n<\/li>\n<\/ul>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\">Although there are slight differences in mean values, statistical testing is required to determine whether these differences are significant.<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\"><b>ANOVA Results<\/b><\/p>\n<ul style=\"margin-bottom: 0in;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none;margin-top: 0in\" type=\"disc\">\n<li class=\"MsoNormal\">F-value\u00a0= 0.3243<\/li>\n<li class=\"MsoNormal\">P-value\u00a0= 0.8078<\/li>\n<li class=\"MsoNormal\">F-critical value\u00a0= 2.6641<\/li>\n<li class=\"MsoNormal\">Level of significance (\u03b1)\u00a0= 0.05<\/li>\n<\/ul>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\"><b>Interpretation<\/b><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\">Since the\u00a0p-value (0.8078) is greater than 0.05\u00a0and the\u00a0F-value is less than the F-critical value, the null hypothesis cannot be rejected.<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\">\u00a0<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\"><b>Conclusion<\/b><\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\">The Single Factor ANOVA results indicate that there is\u00a0no statistically significant difference\u00a0in investor perception towards the selected upcoming IPOs\u2014Haldiram, Zepto, Reliance Jio, and PhonePe.<\/p>\n<p class=\"MsoNormal\" style=\"margin: 0in 0in 8pt;line-height: 15.693334px;font-size: 11pt;font-family: Calibri, sans-serif;color: #000000;font-style: normal;font-weight: 400;letter-spacing: normal;text-align: start;text-indent: 0px;text-transform: none;white-space: normal;text-decoration: none\">This suggests that finance students perceive these IPOs in a broadly similar manner, with no single IPO standing out significantly in terms of investor confidence. The similarity in perception may be attributed to strong brand recognition, positive market expectations, and comparable growth prospects across all four companies.<\/p>\n<\/p>\n<p class=\"MsoNormal\" style=\"line-height: 15.693334px;color: #000000\">Therefore, the study concludes that investor sentiment towards these upcoming IPOs is relatively uniform rather than differentiated.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Kiran Srinivas \u00a0 Introduction about Upcoming IPOs Initial Public Offerings (IPOs) represent an important investment opportunity in capital markets, allowing companies to raise funds while offering investors a chance to participate in future growth. In recent years, several high-profile Indian companies such as\u00a0Haldiram, Zepto, Reliance Jio, and PhonePe\u00a0have generated strong interest among investors due to&hellip; <a class=\"more-link\" href=\"http:\/\/www.sachdevajk.in\/?p=24044\">Continue reading <span class=\"screen-reader-text\">Relationship of Investor Perception towards Upcoming Indian IPOs<\/span><\/a><\/p>\n","protected":false},"author":140061,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[1],"tags":[],"class_list":["post-24044","post","type-post","status-publish","format-standard","hentry","category-uncategorized","entry"],"_links":{"self":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/24044","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/users\/140061"}],"replies":[{"embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=24044"}],"version-history":[{"count":1,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/24044\/revisions"}],"predecessor-version":[{"id":24045,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=\/wp\/v2\/posts\/24044\/revisions\/24045"}],"wp:attachment":[{"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=24044"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=24044"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/www.sachdevajk.in\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=24044"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}