Certain unique characteristics of the Indian bookbuilding process allow us to study the timing and subscription pattern of different investor groups and to dissect underpricing into two distinct components: one relating to pre-listing, set by the underwriter and the other from the post-listing...

The distinct regulatory design of Indian IPOs permits an empirical evaluation of IPO underpricing models against those that model IPO initial returns as a consequence of overpricing. Characteristics of the Indian bookbuilding process allow us to study the timing and subscription patterns of...

The distinct regulatory design of Indian IPOs permits an empirical evaluation of IPO underpricing models against those that model IPO initial returns as a consequence of overpricing. Characteristics of the Indian bookbuilding process allow us to study the timing and subscription patterns of...

Indian primary markets have seen very high degree of oversubscriptions in the IPOs of the firms that went public in 2007. The highest oversubscription was made in Religare Enterprises Limited-a financial services firm. This article studies the basis of allocation of shares in the IPO of Religare...

This paper carries out a review of the available literature in Pensions which deals with the behavioral dimension of the participants of the 401(k) pension plans in USA, in exercising choice and find out the implications for the New Pension System (NPS) in India. The NPS would cover all Central...

The National Stock Exchange (NSE) is India's first fully demutualized stock exchange. It is also the largest exchange in India in terms of volumes in both equity and derivatives segments. The previous studies on Initial Public Offerings (IPOs) in India have been largely confined to the Bombay...

Earnings Management by firms has been recognized by a stream of literature (Teoh et aI, 1998) as a major contributory factor to the short run over performance and long run under performance of Initial Public Offerings (IPOs).This paper outlines the methodology and the key research questions to...

The literature on Indian IPOs has largely been confined to the pre-2000 period when bookbuilding was not present in the Indian capital markets. This paper explores the underpricing of bookbuilt IPOs in India in the post bookbuilding period. Certain unique characteristics of the disclosure...