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Stream/Area:
-
Subject:
-
Paper ID:
IJSREM63013
Volume:
10 |
5 |
May 2026
Pages:
1-8
Publication Frequency:
Monthly (12 issues per year)
License:International Journal of Scientific Research in Engineering and Management follows the Creative Commons Attribution 4.0 (CC BY 4.0) License, allowing free use and distribution with proper attribution.
Department of Commerce
Bharathiar University
Department of Commerce
Bharathiar University
This study aims to evaluate the share price performance of Initial Public Offerings (IPOs) of healthcare companies listed in National Stock Exchange (NSE). The study focuses on analysing the initial returns, market behaviour, and key determinants influencing IPO share price performance. The analysis is based on secondary data collected from NSE. For data analysis, descriptive statistics, T-test, and correlation analysis are employed to examine the relationship between IPO returns and various factors, including financial metrics, investor demand, and market conditions. The study reveals that IPOs in the healthcare sector exhibit varying levels of listing gains, indicating mixed short-term performance. The findings highlight that selected financial, demand-side, and market-based factors have a significant impact on the initial share price performance of healthcare IPOs. The study contributes to understanding how sector-specific IPOs behave in the Indian capital market and provides insights for investors, issuers, and policymakers regarding short-term IPO performance dynamics.
KEYWORDS
This study found that healthcare IPOs in 2024 showed mixed short-term performance, with many delivering strong first-day returns and outperforming the NIFTY 50. Investor demand especially subscription levels and grey market activity had a significant impact on IPO returns, while financial metrics and market conditions showed little influence. Overall, the results highlight that short-term IPO share price performance is driven mainly by investor sentiment, listing-day demand, and sector-specific expectations rather than company fundamentals. These insights help investors and analysts better understand IPO behavior in the healthcare sector.
1. Madan, K. (2003). An analysis of the performance of initial public offerings in India. Indian Journal of Finance and Research, 7(2), 45–58. 2. Ghosh, S. (2005). Bank initial public offerings and post-issue operating performance in India. Journal of Applied Finance, 11(1), 29–44. 3. Chauhan, Y. (2011). Determinants of IPO performance: Evidence from the Indian capital market. International Journal of Business and Management, 6(10), 167–176. 4. Khanna, S. (2012). Impact of stock market crisis on IPO underpricing in India. Asia-Pacific Journal of Management Research and Innovation, 8(3), 289–300. 5. Ramesh, S., Babu, M., & Rao, K. S. (2015). Pricing and performance of initial public offerings in India. International Journal of Financial Management, 5(2), 21–32. 6. Dhume, M. (2015). Short-term price performance of IPOs listed on NSE. Journal of Commerce and Accounting Research, 4(3), 12–24.
Publication Date
5/10/2026
Peer Review Type
Double-Blind Peer Review
Review Rounds: 2
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Conflict of Interest
The authors declare no conflict of interest related to this research work.
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