IPOs a big hit for investors so far this year

Market players say performance trend indicates investors should pick and choose IPOs to invest in

Last week, IPO (initial public offering) investors in Avenue Supermarts were rejoicing, as the stock touched Rs 1,000, 3.3 times the issue price of Rs 299. However,  not all investors are as lucky as those in Avenue Supermarts. The IPO track record in 2017 isn’t bad either. Two of three IPOs that have hit markets this year have made money for the investors. At Thursday’s closing price, 10 of the 15 companies that launched IPOs this year are trading above their issue price. The average issue-to-date gains for these 15 companies are over 42 per cent, against 20 per cent