Post-Listing Performance of Initial Public Offerings: Evidence from IPOs Listed Over the Last Three Years (International Journal For Multidisciplinary Research)

Summary

• The empirical study evaluates the post-listing returns and pricing efficiency of a sample of 179 initial public offerings over a three-year period (2022–2025).p.3
• Top-performing sample offerings demonstrated multi-fold returns, such as Bondada Engineering gaining 2156% from its issue price of ₹ 15 to ₹ 327.50.p.6
• Other standout gainers included S. V. J. Enterprises (+1367%), M.V.K. Agro (+1250%), and ITCONS E-Solutions (+1218%).p.4
• Statistical correlation indicates a positive relationship between IPO issue price and subsequent market price, though return dispersion remains substantial across listings.p.10

Key insights

1. 1. A significant proportion of sampled companies achieved positive post-listing returns relative to their issue prices.p.10
2. 2. High standard deviation and wide return dispersion indicate substantial volatility across newly listed equities.p.10
3. 3. Correlation analysis confirms a positive association between IPO issue price and current market price.p.10
4. 4. Long-term performance in emerging markets is heavily shaped by initial subscription levels, investor sentiment, and underwriter reputation.p.2
5. 5. IPOs offer attractive wealth creation potential over short to medium terms but do not guarantee uniform profitability without careful fundamental evaluation.p.10