Some facts about IPOs:
1. 479 IPOs since 2004 with offer size > INR 50crs raised about INR 3.8 trillion

2. 74% of such IPOs have underperformed Nifty

3. 54% of them trading below their listing price

4. Only 8% of the IPOs since 2001 have been > 5x, 75% of them got listed pre 2010