Examining the Performance of IPOs - An Evidence from India
2012 Management and Labour Studies 37(3) 219-251
34 Pages Posted: 20 Aug 2013
Date Written: August 2012
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: Suggested Citation