MUMBAI, Sept 2 (Reuters): India's markets regulator said on Monday that investors in public issues sold 54 per cent of shares within a week of listing.
Between April 2021 and December 2023, investors showed a greater propensity to exit from the initial public offers that exhibited positive listing gains than those that listed at a loss, the study by the Securities and Exchange Board of India (SEBI) showed.
Shares of 144 companies were listed during the period to raise 2.13 trillion rupees ($25.39 billion), with three-fourths of these IPOs delivering positive returns, SEBI said.
Mutual funds tended to hold shares allotted in IPOs longer, while banks sold them swiftly, the study showed.
Banks sold 79.8 per cent of shares within a week of listing, the SEBI said.
Retail investors sold 42.7 per cent shares within a week, it added.
India regulator's study shows more than half of IPO shares are sold in a week
FE Team | Published: September 03, 2024 00:54:28
India regulator's study shows more than half of IPO shares are sold in a week
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