Globally, initial public offerings are becoming more and more significant as a source of capital for businesses looking to expand quickly by utilising the money raised to adopt creative tactics. They are also regarded as a valuable investment tool because they provide substantial returns on the day of listing. In this study, the firms' short-term performance is examined to comprehend the anomaly of anomalous returns, and their long-term performance is examined to examine the IPO’s long-term success. The period of study is from Jan. 2022to Dec. 2023. The sample for the study includes 10 companies listed in Bombay Stock Exchange of India pertaining to the study period. The study's findings will help investors make better decisions by shedding light on the success of initial public offerings (IPOs), which are primarily regarded as speculative instruments. The results will also assist in determining whether an initial public offering (IPO) is a long-term investment vehicle or a chance for speculation to generate enormous gains.