After Market Pricing Performance of Initial Public Offerings (IPOs). (June 2016)

• Record Type: Journal Article
• Authors: Pandya, Falguni H.
• Is Part Of: Jindal journal of business research. Volume 5:Number 1(2016)
• Page Start: 1
• Page End: 16
• Publication Date: 2016-06
• Subjects: IPOs -- under pricing -- over pricing; Business -- Research -- Periodicals; 658.0072
• DOI: 10.1177/2278682116670077
• Languages: English
• ISSNs: 2278-6821

Abstract

Detailed review of literature in Indian and foreign context have empirically documented IPOs anomaly. This paper attempts to study immediate and short- to long-run performance of IPOs in India for the period January 2004 to December 2013. The present paper evaluates IPOs' performance from initial day to long-term period based on average abnormal return, cumulative abnormal return, buy and hold abnormal return, wealth relative, and market adjusted abnormal return. The paper concludes that IPOs are a good bet to rely upon from immediate to short run and at most till medium term.