Of these, 99 stocks had one-year returns that lagged behind listing day gains. The year-end price of 84 stocks dropped below the IPO issue price. The numbers get worse when two-year and three-year returns are compared with the listing day pop (see chart). A few were of the opinion that selling on the listing day, was a good strategy in a bull market, and usually led to decent gains. The top IPO by issue size, Coal India Ltd, which raised nearly Rs15,200 crore in 2010, saw a listing day gain of 39.73%.

Source: Mint August 14, 2017 18:22 UTC