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International Journal of Creative and Open Research in Engineering and Management

A Peer-Reviewed, Open-Access International Journal Supporting Multidisciplinary Research, Digital Publishing Standards, DOI Registration, and Academic Indexing.
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ISSN: 3108-1754 (Online)
Crossref DOI: Available
ISO Certification: 9001:2015
Publication Fee: 599/- INR
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License: CC BY 4.0
Peer Review: Double Blind
Volume 02, Issue 6

Published on: June 2026

INITIAL PUBLIC OFFERINGS IN THE INDIAN STOCK MARKET: A LITERATURE REVIEW

MANASA B

Dr. CIRAPPA I B

Department of Studies in Commerce, Davangere university, Davangere
DOI:https://doi.org/10.55041/ijcope.v2i6.267

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Abstract

This literature review examines the dynamics, performance, and determinants of Initial Public Offerings (IPOs) in the Indian stock market. The Indian IPO market has experienced significant growth over the past two decades, emerging as one of the world's most active markets. This paper synthesizes existing empirical and theoretical research to analyze underpricing phenomena, long-term performance, pricing mechanisms, market efficiency, and investor behavior in Indian IPOs. The review identifies key factors influencing IPO success, including market conditions, firm characteristics, and regulatory frameworks. Findings suggest that Indian IPO underpricing is substantially higher than global averages, with implications for pricing strategies and market efficiency. The paper concludes by highlighting gaps in existing literature and recommending directions for future research in this dynamic market segment.

How to Cite this Paper

B, M. (2026). Initial Public Offerings in the Indian Stock Market: A Literature Review. International Journal of Creative and Open Research in Engineering and Management, <i>02</i>(6). https://doi.org/10.55041/ijcope.v2i6.267

B, MANASA. "Initial Public Offerings in the Indian Stock Market: A Literature Review." International Journal of Creative and Open Research in Engineering and Management, vol. 02, no. 6, 2026, pp. . doi:https://doi.org/10.55041/ijcope.v2i6.267.

B, MANASA. "Initial Public Offerings in the Indian Stock Market: A Literature Review." International Journal of Creative and Open Research in Engineering and Management 02, no. 6 (2026). https://doi.org/https://doi.org/10.55041/ijcope.v2i6.267.

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References


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  5. Kalpana, V., & Mittal, V. (2017). Retail investor participation and IPO pricing in emerging markets. Asia-Pacific Financial Markets, 24(3), 289-315.

  6. Kumar, S., & Goyal, P. (2016). IPO subscription and market sentiment: Evidence from India. Emerging Markets Review, 28, 156-175.

  7. Mishra, R., & Mahajan, A. (2014). Regulatory reforms and IPO market development in India. Journal of Regulatory Economics, 46(2), 112-139.

  8. Palepu, K., & Kalpana, R. (2015). IPO pricing mechanisms and market efficiency in India. Journal of Corporate Finance, 32, 178-195.

  9. Securities and Exchange Board of India (SEBI). (2023). ICDR Regulations: Rules and Guidelines for IPOs. New Delhi: SEBI Publications.

  10. Sharma, A., & Patel, N. (2017). Firm characteristics and IPO pricing in India: Evidence from multiple regression analysis. International Journal of Finance & Economics, 22(5), 512-531.

  11. Singh, P., & Sharma, R. (2019). Market microstructure and IPO underpricing: Evidence from India. Review of Quantitative Finance and Accounting, 52(2), 521-548.

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  • •All submissions are screened under plagiarism detection.
  • •Review follows editorial policy.
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  • •Peer Review Type: Double-Blind Peer Review
  • •Published on: Jun 23 2026
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