Investing in IPOs can give good returns, but don't be too greedy

It’s often said that investing in an initial public offering (IPO) is fraught with risks. But, once in a while, there comes an Avenue Supermarts (D’mart) issue in which the investor can more than triple his money in less than a year. The stock was issued at Rs 299, listed at Rs 610 on March 21, 2017, and is currently trading at Rs 1,569. No wonder, after an IPO like this, investors start chasing every other issue for supernormal profits. Unfortunately, the result isn’t the same every time.  Over the past year, 41 initial public offerings (IPOs) of more than Rs 1 bi.....

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