Analysis of IPOs price performance

Mani Jindal


The initial public offering is the sale of shares to the public for the first time through stock exchanges. This research paper seeks to analyze the IPO pricing performance from the first day of listing to different time frames short run and long run conducted during 2011 to 2013. The sample of 59 IPOs are considered for analyses whether it is overpriced and underpriced. To achieve the objective of this study, returns level, beta and three models are used to find out the return and risk simultaneously. The beta is also used to evaluate the risk measurement. The three measures are Sharpe’s, Treynor’s and Jensen’s measures. It found that from the IPOs return calculations that the IPOs has underperformed.

Keywords: Keywords: Initial public offering, NSE market, under pricing, overpricing, fixed price offer, book building.

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