How useful have IPOs been in the last two years? Not very, it turns out.

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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)

Now, tell them about it: