Mulya is a Finance Case Analysis Competition, organized by the Finance Forum at TAPMI, which focused on the business acumen of students towards fund raising in primary markets and assessed their strategic thinking.
In Mulya ’10, eight teams participated and among them three teams were selected for the final round where each of the three teams had to present their case analysis to the jury panel consisting of Mr. Shiva Iyer – Executive Director and COO, JP Morgan Chase and Prof. Sunil K. Parameswaran – CEO, Tarheel Consultancy Services and visiting faculty at TAPMI.
Teams who managed to qualify for final rounds consisted of:
Team 1: Mr. Ravi S (PGP-2) and Mr. Anupam Chaplot (PGP-2)
Team 2: Mr. Sashank Shah (PGP-2) and Ms. Ruchi Gupta (PGP-2)
Team 3: Ms. Srividya Shankar (PGP-2) and Ms. Priya Ramanathan (PGP-2)
One of the teams used the research paper – Timing of IPO: Real Option Approach by Jason Draho and various theories on timing of IPO like Loss Aversion and Mental Accounting. They also identified psychographic variable as one of the important factors which plays a major role in the decision of launching and timing of an IPO. Some of the teams used EIC framework (Economy, Industry and Company) to analyze the case, identified pros and cons of going public and for the timing of the IPO and did valuation to find the issue price of the IPO.
Mr. Iyer gave his input on the case by adding that the domestic and overseas institutional investors also play a major role in pricing and timing of an IPO. He also said that underwriting of an IPO in the Indian market is not very active and many of the investment banks offer only soft underwriting over hard underwriting.
He appreciated all the teams for their detailed analysis and then took the audience through the IPO process. He also shared his experience of launching a company’s IPO in India where he exposed students to the various practical aspects the equity raising process. Overall it was a good learning experience for all the teams that participated and the students of TAPMI.
– Finance Forum