An Empirical Study on IPO Performance in India
Author(s):
Dr. Mercia Selva Malar, Muhammad Khalid Jamali, Mrinali Agrawal
Keywords:
Abstract
This study was carried out on 50 IPOs listed between 2017 and 2021 on National Stock Exchange (NSE). In this, Researchers investigated whether there is any impact of issue price on the subscription of IPOs by calculating the correlation between the two, and it was found that there is a negative correlation between them. Researchers also studied the IPOs performance through issue price and listing price by calculating the mean difference between the two prices. It was found that there is a significant variation between them. Researchers then investigated the impact of events on stock prices. The most impactful news of each year was selected by random sampling method using a random sample generator. The potential impact of that news was then analyzed on the stocks, and it was found that they have both positive and negative impacts. Price movement was studied by grouping the IPOs into four categories regarding their listing date to analyze if returns are affected by the holding period of the stocks. Monthly, Quarterly, Semi-Annually, and Annual Average returns were calculated to see the changes in returns under the holding period. The result showed a positive effect, meaning that returns are directly proportionate to the stock's holding period.
Article Details
Unique Paper ID: 158565

Publication Volume & Issue: Volume 9, Issue 10

Page(s): 1012 - 1022
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