IPOs of 1997

31 Indian IPOs listed in 1997 — 31 on the mainboard, raising ₹11,958 crore. The average listing gain was -55.4% (median -49.7%), and 0% closed above their issue price. The strongest debut was GAIL (INDIA) LIMITED (-49.7%); the weakest was THE SHIPPING CORPORATION OF INDIA LIMITED (-61.1%).