Hi,
This is by far india's largest IPO.
You may have heard that the present sens*x boom is due to "Quantitative Easing" by the US Fed Reserve. In other words, the FIIs are just pumping in money to emerging markets like India and China, instead of giving cheap loans to small business in their home countries....
Rs. 15,000 crores is presently sufficient to mop up the liquidity in the market... Plus its to be seen how much more capital outflows the feds are going to allow, with all the political pressure in the US......
so i expect that liquidity pressures will result in correction in the market...
Regarding negative returns from IPOs,
please go thru
https://smartinvestor.in/market/story-45624-storydet-Selective_gains_recorded_in_recent_new_listings.htm