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A STUDY ON THE LISTING DAY AND SHORT-TERM PERFORMANCE OF INDIAN IPOs DURING THE COVID-19 CRISES

: This research project aims to analyse the underperformance of the Book Build IPOs launched into the Indian stock market during the COVID-19 pandemic, on the day of listing and the subsequent underperformance in the short-run period individually as well as with respect to two major indices- NIFTY50 and NIFTY500. The paper also aims to understand the factors affecting the listing day underpricing of the IPOs. The factors taken under consideration for this purpose include- Issue size, Issue Price, Oversubscription, Absolute Market (Nifty50) returns, Proportion of fresh issue. The paper uses a t-test including several variables to study the listing day and post-listing performance of the IPOs. In order to study the factors affecting the listing day underpricing, the OLS regression model has been employed.