IPOs in Indian Markets: Performance Analysis since 2001
This book provides insights on factors contributing to the performance of IPOs
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India, given its growth story, has been on the radar of the national and global investors. The growth story is attributed to good macroeconomic conditions, prudent reform measures, high liquidity in financial markets and improvement in the quality of the companies hitting the market. In such a scenario, initial public offerings (IPOs) have definitely emerged as a fresh asset class for investors. This book evaluates the short-term and long-tern performance of primary issues since 2001. Regression model has been used to analyse the relationship between level of underpricing and factors such as i...
India, given its growth story, has been on the radar of the national and global investors. The growth story is attributed to good macroeconomic conditions, prudent reform measures, high liquidity in financial markets and improvement in the quality of the companies hitting the market. In such a scenario, initial public offerings (IPOs) have definitely emerged as a fresh asset class for investors. This book evaluates the short-term and long-tern performance of primary issues since 2001. Regression model has been used to analyse the relationship between level of underpricing and factors such as issue size, subscription ratio, pre-IPO Nifty and sector performance and lead managers' reputation. This book also discusses the impact of global financial crisis of 2008 on the regulatory structure and due diligence processes by the lead manager's community. A statically significant explanatory model is created which establishes the relationship between IPO underpricing and factors influencing this behavior. The book talks about the implications of findings for the policy makers, market intermediaries, issuers as well as investors.
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