| SMART JOURNAL OF BUSINESS MANAGEMENT STUDIES |
VOL. 1 |
NO. 2 |
PAPER 12 |
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PRICE EFFICIENCY OF INITIAL PUBLIC OFFERINGS IN INDIA |
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| M.Selvam and D.Sukanya |
| Department of Commerce, Bharathidasan University, Trichy, India |
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| The new issue market deals with new securities issued for the first time. The success of new issue market also depends on pricing of IPOs. There can be either underpricing or overpricing. Nowadays the after market performance of IPOs has received increased attention. The present paper is carried out to evaluate price efficiency of IPOs in India and to study factors which play the important role in IPOs. This study establishes that among new issues of all sectors taken for this study, the issues of pharmaceutical industry have generally realized positive returns expect one or two months. |
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