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---
license: cc-by-nc-sa-4.0
---

Codes: https://github.com/sohomghosh/Indian_IPO

Main Files
----------------------

ipo_mainline_final_data_v18.xlsx and SME_data_final_v11.xlsx are the main files containing all the relevant features.

These files contain the following columns. NOTE: P = Presence (B= Both, M = Main Board, S = SME), T = Type of variable (I = Independent Variable i.e. Features, D = Dependent Variable i.e. Target)


| **P** | **T** | **Column Name**                                                     | **Description**                                                                                         |
|-------|-------|---------------------------------------------------------------------|---------------------------------------------------------------------------------------------------------|
| B     | I     | mapping_key                                                         | Unique key for identifying each IPO                                                                     |
| B     | I     | Company Name                                                        | Name of the company going for IPO in short                                                              |
| B     | I     | Issuer Company                                                      | Full Name of the company going for IPO                                                                  |
| B     | I     | url                                                                 | URL corresponding to the company's IPo in chittorgarh.com                                               |
| B     | I     | subscription_link                                                   | URL to access the subscription information                                                              |
| M     | I     | Subscription Dates                                                  | Dates on which IPO can be subscribed                                                                    |
| B     | I     | NSE_symbol                                                          | Ticker of the company in NSE                                                                            |
| B     | I     | Total Issue Size                                                    | Total monetary value of all shares being offered to the public                                          |
| B     | I     | Offer for Sale                                                      | Value of shares being offered for sale                                                                  |
| B     | I     | Issue Type                                                          | Fixed Price Issue or Book Building Issue                                                                |
| B     | I     | Listing Date                                                        | Day on which IPO will get listed                                                                        |
| B     | I     | Price Band                                                          | The range of prices within which investors can bid for shares                                           |
| B     | I     | Industry                                                            | Industry of the company                                                                                 |
| B     | I     | Sector                                                              | Sector of the company                                                                                   |
| B     | I     | IPO Date                                                            | Duration for subscribing the IPO                                                                        |
| B     | I     | Close Date                                                          | Last day for IPO subscription                                                                           |
| B     | I     | Close Year                                                          | Year of the last day for IPO subscription                                                               |
| B     | I     | Close Year Previous                                                 | One year before the year of the last day for IPO subscription                                           |
| M     | I     | Exchange                                                            | NSE or BSE                                                                                              |
| M     | I     | Issue Size (Rs Cr.)                                                 | Total shares that a company proposes to offer                                                           |
| B     | I     | Final_Issue_Price                                                   | Final Issue price of the company (on NSE for Main Board) (on BSE/NSE for SME whichever available)       |
| S     | I     | BSE_Final_Issue_Price                                               | Issue price of the IPO on BSE                                                                           |
| S     | I     | NSE_Final_Issue_Price                                               | Final Issue price of the SME IPO on NSE                                                                 |
| B     | I     | Fresh Issue                                                         | Value of shares being freshly issued                                                                    |
| M     | I     | Lot Size                                                            | Minimum number of shares that an investor must bid for                                                  |
| M     | I     | Open Date                                                           | Date when IPO will be opened for subscription                                                           |
| B     | I     | <n>_assets                                                          | Asset of the company as on nth day                                                                      |
| B     | I     | <n>_net worth                                                       | Net worth of the company as on nth day                                                                  |
| B     | I     | <n>_profit after tax                                                | Profit after tax of the company on the nth day                                                          |
| B     | I     | <n>_reserves and surplus                                            | Reserves and surplus of the company on the nth day                                                      |
| B     | I     | <n>_revenue                                                         | Revenue of the company on the nth day                                                                   |
| B     | I     | <n>_total borrowing                                                 | Total borrowing of the comany on the nth day                                                            |
| B     | I     | <n>_total income                                                    | Total income of the company on the nth day                                                              |
| B     | I     | 1 day before Close Day                                              | Date before 1 day before the last day for IPO subscription                                              |
| B     | I     | 1 month before Close Day month number                               | Month number of the month which is 1 month before the last day of IPO subscription                      |
| B     | I     | 1 month before Close Day year number                                | Year  of the month which is 1 month before the last day of IPO subscription                             |
| B     | I     | 1 week before Close Day week number                                 | Week number of the week which is 1 week before the last day of IPO subscription                         |
| B     | I     | 1 week before Close Day year number                                 | Year of the week which is 1 week before the last day of IPO subscription                                |
| B     | I     | Basis of Allotment                                                  | Date when the final allocation of shares in an Initial Public Offering (IPO) is disclosed to investors. |
| B     | I     | Brokers_Avoid                                                       | Number of top Brokers & Analysts who recommended to avoid the IPO                                       |
| B     | I     | Brokers_Neutral                                                     | Number of top Brokers & Analysts with neutral recommended for the IPO                                   |
| B     | I     | Brokers_Subscribe                                                   | Number of top Brokers & Analysts who recommended to subscribe for the IPO                               |
| B     | I     | Members_Avoid                                                       | Number of Members who recommended to avoid the IPO                                                      |
| B     | I     | Members_Neutral                                                     | Number of Members with neutral recommended for the IPO                                                  |
| B     | I     | Members_Subscribe                                                   | Number of Members who recommended to subscribe for the IPO                                              |
| B     | I     | Face Value per share                                                | Face value of a share                                                                                   |
| B     | I     | Credit of Shares to Demat                                           | Date on which shares would be credited to the demat account                                             |
| B     | I     | Cut-off time for UPI mandate confirmation                           | Time by which an investor must approve the UPI mandate request                                          |
| B     | I     | day_<n>_date                                                        | Date of day n                                                                                           |
| B     | I     | day_<n>_bNII (bids above 10L)                                       | Subscriptions by big Non-Institutional Investors on day n                                               |
| B     | I     | day_<n>_emp                                                         | Subscriptions by employees on day n                                                                     |
| B     | I     | day_<n>_nii                                                         | Subscriptions by Non-Institutional Investors (NII) on day n                                             |
| B     | I     | day_<n>_nii*                                                        | Subscriptions by other type of Non-Institutional Investors (NII*) on day n                              |
| B     | I     | day_<n>_other                                                       | Subscriptions by others on day n                                                                        |
| B     | I     | day_<n>_qib                                                         | Subscriptions by Qualified Institutional Buyers (QIB) on day n                                          |
| B     | I     | day_<n>_retail                                                      | Subscriptions by Retail Investors on day n                                                              |
| B     | I     | day_<n>_total                                                       | Total subscriptions on day n                                                                            |
| B     | I     | Retail (Max)_Amount                                                 | Maximum application amount for Retailers                                                                |
| B     | I     | Retail (Max)_Lots                                                   | Maximum number of lots that a Retailers must apply for                                                  |
| B     | I     | Retail (Max)_Shares                                                 | Maximum number of shares that a Retailers must apply for                                                |
| B     | I     | Retail (Min)_Amount                                                 | Minimum application amount for Retailers                                                                |
| B     | I     | Retail (Min)_Lots                                                   | Minimum number of lots that a Retailers must apply for                                                  |
| B     | I     | Retail (Min)_Shares                                                 | Minimum number of shares that a Retailers must apply for                                                |
| M     | I     | B-HNI (Min)_Amount                                                  | Minimum application amount for Big High Net-worth Individuals (B-HNIs)                                  |
| M     | I     | B-HNI (Min)_Lots                                                    | Minimum number of lots that a B-HNI must apply for                                                      |
| M     | I     | B-HNI (Min)_Shares                                                  | Minimum number of shares that a B-HNI must apply for                                                    |
| M     | I     | S-HNI (Max)_Amount                                                  | Maximum application amount for Small High Net-worth Individuals (S-HNIs)                                |
| M     | I     | S-HNI (Max)_Lots                                                    | Maximum number of lots that a S-HNI must apply for                                                      |
| M     | I     | S-HNI (Max)_Shares                                                  | Maximum number of shares that a S-HNI must apply for                                                    |
| M     | I     | S-HNI (Min)_Amount                                                  | Minimum application amount for S-HNI                                                                    |
| M     | I     | S-HNI (Min)_Lots                                                    | Minimum number of lots that a S-HNI must apply for                                                      |
| M     | I     | S-HNI (Min)_Shares                                                  | Minimum number of shares that a S-HNI must apply for                                                    |
| S     | I     | HNI (Min)_Amount                                                    | Minimum application amount for High Net-worth Individuals (HNIs)                                        |
| S     | I     | HNI (Min)_Lots                                                      | Minimum number of lots that a HNI must apply for                                                        |
| S     | I     | HNI (Min)_Shares                                                    | Minimum number of shares that a HNI must apply for                                                      |
| B     | I     | Share Holding Post Issue                                            | Distribution of ownership stakes in a company post IPO                                                  |
| B     | I     | Share Holding Pre Issue                                             | Distribution of ownership stakes in a company pre IPO                                                   |
| B     | I     | Stocks traded, total value (% of GDP)                               | Value of stock traded as % of GDP in the year prior to IPO                                              |
| B     | I     | dhrp_rhp_links                                                      | Links for DHRP, RHP, Anchor Investor files                                                              |
| B     | I     | dhrp_rhp_links_pdf                                                  | Links for DHRP, RHP, Anchor Investor pdf files                                                          |
| B     | I     | most_relevant_link                                                  | Link to download prospectus. Preference is given to RHP followed by DRHP and Anchor Investor files.     |
| B     | I     | File_Rename_1st                                                     | Name of downloaded PDF file. Preference is given to RHP followed by DRHP and Anchor Investor files      |
| B     | I     | Text_extracted_JSON                                                 | Pagewise texts extracted from the PDF in json format                                                    |
| B     | I     | full_text_content                                                   | Text content related to the IPO obtained from chittorgarh.com                                           |
| B     | I     | news_content                                                        | List of news relating to the company's IPO                                                              |
| B     | I     | news_headline                                                       | List of news headlines relating to the company's IPO                                                    |
| B     | I     | news_synopsis                                                       | List of news synopsis relating to the company's IPO                                                     |
| B     | I     | news_url                                                            | List of urls corresponding to the news relating to the company's IPO                                    |
| B     | I     | Chg%_nifty50_daily                                                  | Change in nifty 50 index during the day previous to the Close Date                                      |
| B     | I     | Chg%_nifty50_monthly                                                | Change in nifty 50 index during the month previous to the Close Date                                    |
| B     | I     | Chg%_nifty50_weekly                                                 | Change in nifty 50 index during the week previous to the Close Date                                     |
| B     | I     | Chg%_vix_daily                                                      | Change in vix index during the day previous to the Close Date                                           |
| B     | I     | Chg%_vix_monthly                                                    | Change in vix index during the month previous to the Close Date                                         |
| B     | I     | Chg%_vix_weekly                                                     | Change in vix index during the week previous to the Close Date                                          |
| B     | I     | Open_nifty50_daily                                                  | Opening Price of nifty 50 index during the day previous to the Close Date                               |
| B     | I     | Open_nifty50_monthly                                                | Opening Price of nifty 50 index during the month previous to the Close Date                             |
| B     | I     | Open_nifty50_weekly                                                 | Opening Price of nifty 50 index during the week previous to the Close Date                              |
| B     | I     | Open_vix_daily                                                      | Opening Price of vix during the day previous to the Close Date                                          |
| B     | I     | Open_vix_monthly                                                    | Opening Price of vix during the month previous to the Close Date                                        |
| B     | I     | Open_vix_weekly                                                     | Opening Price of vix during the week previous to the Close Date                                         |
| B     | I     | High_nifty50_daily                                                  | Highest value of nifty 50 index during the day previous to the Close Date                               |
| B     | I     | High_nifty50_monthly                                                | Highest value of nifty 50 index during the month previous to the Close Date                             |
| B     | I     | High_nifty50_weekly                                                 | Highest value of nifty 50 index during the week previous to the Close Date                              |
| B     | I     | High_vix_daily                                                      | Highest value of vix index during the day previous to the Close Date                                    |
| B     | I     | High_vix_monthly                                                    | Highest value of vix index during the month previous to the Close Date                                  |
| B     | I     | High_vix_weekly                                                     | Highest value of vix index during the week previous to the Close Date                                   |
| B     | I     | Low_nifty50_daily                                                   | Lowest Price of nifty 50 index during the day previous to the Close Date                                |
| B     | I     | Low_nifty50_monthly                                                 | Lowest Price of nifty 50 index during the month previous to the Close Date                              |
| B     | I     | Low_nifty50_weekly                                                  | Lowest Price of nifty 50 index during the week previous to the Close Date                               |
| B     | I     | Low_vix_daily                                                       | Lowest Price of vix during the day previous to the Close Date                                           |
| B     | I     | Low_vix_monthly                                                     | Lowest Price of vix during the month previous to the Close Date                                         |
| B     | I     | Low_vix_weekly                                                      | Lowest Price of vix during the week previous to the Close Date                                          |
| B     | I     | Price_nifty50_daily                                                 | Closing Price of nifty 50 index during the day previous to the Close Date                               |
| B     | I     | Price_nifty50_monthly                                               | Closing Price of nifty 50 index during the month previous to the Close Date                             |
| B     | I     | Price_nifty50_weekly                                                | Closing Price of nifty 50 index during the week previous to the Close Date                              |
| B     | I     | Price_vix_daily                                                     | Closing Price of vix during the day previous to the Close Date                                          |
| B     | I     | Price_vix_monthly                                                   | Closing Price of vix during the month previous to the Close Date                                        |
| B     | I     | Price_vix_weekly                                                    | Closing Price of vix during the week previous to the Close Date                                         |
| B     | I     | Volume_nifty50_daily                                                | Volume traded in nifty 50 during the day previous to the Close Date                                     |
| B     | I     | Volume_nifty50_monthly                                              | Volume traded in nifty 50 during the month previous to the Close Date                                   |
| B     | I     | Volume_nifty50_weekly                                               | Volume traded in nifty 50 during the week previous to the Close Date                                    |
| B     | I     | dynamic_last_90Day_success_close                                    | Average success rate calculated using close price in the last 90 days prior to ipo close day            |
| B     | I     | dynamic_last_90Day_success_high                                     | Average success rate calculated using high price in the last 90 days prior to ipo close day             |
| B     | I     | dynamic_last_90Day_success_open                                     | Average success rate calculated using open price in the last 90 days prior to ipo close day             |
| B     | I     | previous_quarter                                                    | Quarter before the Close Date                                                                           |
| B     | I     | previous_quarter_success_close                                      | Average success rate calculated using close price in the previous calendar quarter                      |
| B     | I     | previous_quarter_success_high                                       | Average success rate calculated using high price in the previous calendar quarter                       |
| B     | I     | previous_quarter_success_open                                       | Average success rate calculated using open price in the previous calendar quarter                       |
| B     | I     | Foreign direct investment, net (BoP, current US$)                   | Net Foreign Direct Investment happend in the year prior to IPO                                          |
| B     | I     | Foreign direct investment, net inflows (BoP, current US$)           | Net inflow from Foreign Direct Investment happend in the year prior to IPO                              |
| B     | I     | GDP (current US$)                                                   | GDP of India in the year prior to IPO                                                                   |
| B     | I     | GDP growth (annual %)                                               | Annual growth % in GDP of India in the year prior to IPO                                                |
| B     | I     | GDP per capita growth (annual %)                                    | GDP per capita growth as annual % in the year prior to IPO                                              |
| B     | I     | GNI (current US$)                                                   | Gross National Income in the year prior to IPO                                                          |
| B     | I     | GNI per capita growth (annual %)                                    | Gross National Incom per capita growth as annual % in the year prior to IPO                             |
| B     | I     | Inflation, consumer prices (annual %)                               | Inflation rate in the year prior to the IPO                                                             |
| B     | I     | Personal remittances, received (% of GDP)                           | Received  personal remittances as % of GDP on the year prior to IPO                                     |
| B     | I     | Initiation of Refunds                                               | Date on which refunds are initiated to the investors who are not allocated any shares                   |
| B     | I     | Net trade in goods and services (BoP, current US$)                  | Net trade in goods and services in the year prior to the IPO                                            |
| B     | I     | Unemployment, total (% of total labor force) (modeled ILO estimate) | Unemployment rate in the year prior to the IPO                                                          |
| B     | I     | answer_of_question_<n>                                              | Answer generated using LLM for the nth question. 1<=n<=25                                               |
| S     | D     | BSE_High                                                            | Highest price of the stock on BSE on the Listing Day                                                    |
| S     | D     | BSE_Low                                                             | Lowest price of the stock on BSE on the Listing Day                                                     |
| S     | D     | BSE_Open                                                            | Opening price of the stock on BSE on the Listing Day                                                    |
| B     | D     | BSE_Last_Trade                                                      | Closing price on BSE of the IPO on the Listing Day                                                      |
| B     | D     | NSE_High                                                            | Highest price of the stock on NSE on the Listing Day                                                    |
| B     | D     | NSE_Last_Trade                                                      | Closing price of the stock on NSE on the Listing Day                                                    |
| B     | D     | NSE_Low                                                             | Lowest price of the stock on NSE on the Listing Day                                                     |
| B     | D     | NSE_Open                                                            | Opening price of the stock on NSE on the Listing Day                                                    |
| S     | D     | High                                                                | Overall highest price of the SME IPO on Lisitng day                                                     |
| S     | D     | Last_Trade                                                          | Overall closing price of the SME IPO on Lisitng Day                                                     |
| S     | D     | Low                                                                 | Overall lowest price of the SME IPO on Lisitng Day                                                      |
| S     | D     | Open                                                                | Overall open price of the SME IPO on lisitng day                                                        |
| B     | D     | Success_Close                                                       | Success of the IPO in terms of closing price on the Listing Day                                         |
| B     | D     | Success_High                                                        | Success of the IPO in terms of highest price on the Listing Day                                         |
| B     | D     | Success_Open                                                        | Success of the IPO in terms of opening price on the Listing Day                                         |
| M     | D     | elasticity                                                          | ((open price - issue price)/issue price)/(subscription rate - 1)    (It is not used in this study)                                    |
| M     | D     | Total_subscriptions                                                 | Total subscriptions the IPO received                                                                    |


Files having DeBERTa probabilities
-
deberta_probabilities/deberta_probabilities_\<mb or sme>_success_\<open or high or close>.csv

Files having probabilities from Machine Learning models trained using Nomic
-
nomic_embeddings_ml_predictions/\<mainboard or sme>_text_feature_predictions.zip

Files having Grey Maret Price (GMP) data
-
GMP_data/GMP_Mainline_2019_2024YTD_Investorgrain_CLEAN.xlsx, GMP_SME_2019_2024YTD_Investorgrain_CLEAN_v2.xlsx


Files having raw text extracted from DRHP/RHP PDFs
-
texts_extracted_from_pdfs/ipo_mainline_txts_extracted.zip, texts_extracted_from_pdfs/ipo_sme_txts_extracted.zip

List of questions asked while leveraging the Retrieval-Augmented Generation (RAG) framework
-
questions/questions_to_ask_rhp.csv


```bibtex
@misc{indiaipo-ghosh-2024,
  title={Experimenting with Multi-modal Information to Predict Success of Indian IPOs},
  author={Ghosh, Sohom and Majhi, Arnab and Harsha Vardhan, N and Naskar and Sudip Kumar},
  year={2024}
}
```