How useful have IPOs been in the last two years? Not very, it turns out.
(Click to enlarge)
The average return, till date, is (– 30.1%). The index has dropped about 25% from the peak. Even government owned company IPOs like MOIL, Engineers India and SJVNL have deeply negative returns.
I need to do a post for IPOs five years ago. GMR Infra, I just discovered, is below its IPO price 5 years ago, despite going up 5x in the interim. (Net of splits and bonuses)