Abstract

Initial Public Offerings (IPOs) are subscribed by the interested investors at the offer price or issue price. Eventually, under-pricing or over pricing is seen after listing of securities and many factors influence the price performance of IPOs. In this backdrop, the current study analyses the first day price performance of IPOs on the basis of the various macro-economic sectors of the NSE. The study explores the various measures of first day returns on the basis of the different categories of the NSE-based sectors of the sample IPOs companies.

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