Abstract
IPOs are frequently issued by littler, more youthful organizations looking for the funding to grow, yet can likewise be finished by a huge exclusive organization looking to end up traded on an open market. The objective of an IPO may differ from company to company. It may be for expansion of existing activities of the company or setting up of new projects or just to get its existing equity shares listed by diluting the stake of existing equity shareholders through offer for sale or any other object as may be specified by the Company in its offer document. In this paper we analyse post-issue returns of top ten IPOs that have completed at least one year. We found that under-pricing is still present and most of the IPOs provide negative return in the long-run.
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