Examining the Performance of IPOs - An Evidence from India

2012 Management and Labour Studies 37(3) 219-251

34 Pages Posted: 20 Aug 2013

See all articles by Shikha Bhatia

Shikha Bhatia

Jaipuria Institute of Management

Balwinder Singh

Guru Nanak Dev University - Department of Commerce and Business Management

Date Written: August 2012

Abstract

This paper examines the performance of 648 initial public offerings (IPOs) listed on the Bombay Stock Exchange (BSE) from June 1992 to March 2002 over a five-year period. Voluminous research across the world suggests that IPOs unanimously witness very high returns in the short run; as opposed to it, the long-run performance of IPOs does not observe any ubiquitous pattern and this paper is an attempt to draw conclusions about the performance of IPOs in India. In order to get robust conclusions on IPO performance, the patterns of IPO performance have been analyzed for 60 months subsequent to listing. Furthermore, the study attempts to find out the factors that determine the performance of Indian IPOs.

Keywords: IPO Performance, Underperformance of IPOs, Operating Performance of IPOs, Long-run Performance of IPOs

Suggested Citation

Bhatia, Shikha and Singh, Balwinder, Examining the Performance of IPOs - An Evidence from India (August 2012). 2012 Management and Labour Studies 37(3) 219-251. Available at SSRN: https://ssrn.com/abstract=2312397

Shikha Bhatia (Contact Author)

Jaipuria Institute of Management ( email )

A-32A ,Sctor 62
Noida
Gautam Budh Nagar, UP 201309
India

Balwinder Singh

Guru Nanak Dev University - Department of Commerce and Business Management ( email )

Department of Commerce and Business Management
Guru Nanak Dev University
Amritsar, Punjab 143005
India
09417272232 (Phone)
0183-2255564 (Fax)

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