A study by Institutional Investor Advisory Services (IiAS) says returns from investing in Initial public offerings (IPOs) have been dismal over 10 years.
About 60 per cent of investors lost money, it concluded.
IiAS' analysis of 394 IPOs between April 1, 2003 and July 31, 2014, showed only 164 companies or 42 per cent currently trade above the offer price.
Further, in 20 per cent of this set of companies, investors would have made higher post-tax