RT Journal Article SR Electronic T1 Performance of Private Equity Backed Initial Public Offerings: Empirical Evidence from India JF The Journal of Private Equity FD Institutional Investor Journals SP 56 OP 64 DO 10.3905/jpe.2015.18.4.056 VO 18 IS 4 A1 Raviraj Gohil A1 Vijay Vyas YR 2015 UL https://pm-research.com/content/18/4/56.abstract AB This article investigates the initial and long-term performance of private equity (PE) backed initial public offerings (IPOs) in India. Using the data of IPOs listed on the Bombay stock exchange from 2009 to 2012, the authors investigate the initial performance of the IPO on listing day for both PE equity backed IPOs and non-PE backed IPOs and documented that PE backed IPOs show less underpricing than non-PE backed IPOs. Then, they compared the long-term performance of PE and non-PE backed IPOs for two years post-listing and documented less underperformance of PE backed IPOs compared with non-PE backed IPOs. Finally, the authors confirmed “fads” in Indian IPOs market but also recorded that the degree of fads was less in PE backed IPOs than in non-PE backed IPOs.TOPICS: Private equity, emerging, performance measurement, equity portfolio management