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The objective of this study is to investigate short-run performance and whether the IPOs are over-priced or under-priced in various window periods.This study applies one-sample t-tests, capital asset pricing models, and market-adjusted excess return to quantify the short-term pricing performance as well as the risk and return of initial public offerings and market indices.The study investigates the claim that post-listing initial public offerings (IPOs) guarantee short-term gains.The twelve months following the listing, in particular, have seen the biggest gains.According to reports, investors who buy shares in IPOs get strong returns in this period.The market-adjusted initial returns for the IPOs registered on the National Stock Exchange between January 2019 and December 2020 have been found to be roughly 44%, per this analysis.
Jindal et al. (Wed,) studied this question.
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