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The Indian IPO Market: Empirical Facts

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  • Ajay Shah

Abstract

This article studies India's vibrant IPO market, via a dataset of the 2056 IPOs which took place in the last 4.5 years. We study the overall underpricing, the delay between issue date and listing date, the time- series of monthly volume of IPO issues and average underpricing in a given month, the cross-section of underpricing across companies, the post-listing trading frequency, the long-run returns to new listings, and price discovery by the market shortly after first listing.

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Bibliographic Info

Paper provided by EconWPA in its series Finance with number 9507003.

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Date of creation: 11 Jul 1995
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Handle: RePEc:wpa:wuwpfi:9507003

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  1. Ritter, Jay R, 1991. " The Long-run Performance of Initial Public Offerings," Journal of Finance, American Finance Association, vol. 46(1), pages 3-27, March.
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Cited by:
  1. Aggarwal, Reena & Klapper, Leora, 2003. "Ownership structure and initial public offerings," Policy Research Working Paper Series 3103, The World Bank.
  2. Mayur, Manas & Kumar, Manoj, 2006. "An Empirical Investigation of Going Public Decision of Indian Companies," MPRA Paper 1801, University Library of Munich, Germany.
  3. Kumar G Arun & Pandey, Ajay, . "Relative Effectiveness of Signals in IPOs in Indian Capital Markets," IIMA Working Papers WP2001-09-03, Indian Institute of Management Ahmedabad, Research and Publication Department.
  4. Lane, Philip R. & Schmukler, Sergio, 2006. "The International Financial Integration of China and India," CEPR Discussion Papers 5852, C.E.P.R. Discussion Papers.
  5. Subadar Agathee, Ushad & Brooks, Chris & Sannassee, Raja Vinesh, 2012. "Hot and cold IPO markets: The case of the Stock Exchange of Mauritius," Journal of Multinational Financial Management, Elsevier, vol. 22(4), pages 168-192.
  6. Ajay Shah, 1995. "The Indian IPO Market: Suggestions for Institutional Arrangements," Finance 9507004, EconWPA.

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