Should we buy shares (IPO) which were listed at higher values on its listing day

Last year was the year of IPOs, all giving good returns on listing, but all were oversubscribed and very difficult to get, so we were just thinking that if we would have bought them after listing, what would have been the results, so we just did a little bit of analysis which is given below :

Issuer Company	Issue Open Date	Issue close date	Offer Price	Listed Price	Market Price as on 18-04-2017
Shankara Building Products Ltd IPO	Mar 22, 2017	Mar 24, 2017	460	573	718.5
CL Educate Ltd IPO	Mar 20, 2017	Mar 22, 2017	502	402	432.5
Music Broadcast Ltd IPO	Mar 6, 2017	Mar 8, 2017	333	439	341.5
Avenue Supermarts Limited IPO	Mar 8, 2017	Mar 10, 2017	299	603	730.15
BSE Limited IPO	Jan 23, 2017	Jan 25, 2017	806	1085	997
Laurus Labs Ltd IPO	Dec 6, 2016	Dec 8, 2016	428	490	514.4
Sheela Foam Ltd IPO	Nov 29, 2016	Dec 1, 2016	730	860	1200
PNB Housing Finance Ltd IPO	Oct 25, 2016	Oct 27, 2016	775	860	1266
Varun Beverages Ltd IPO	Oct 26, 2016	Oct 28, 2016	445	430	484.9
Endurance Technologies Ltd IPO	Oct 5, 2016	Oct 7, 2016	472	572	818.05
HPL Electric & Power Ltd IPO	Sep 22, 2016	Sep 26, 2016	202	190	128.9
ICICI Prudential Life Insurance Company Ltd IPO	Sep 19, 2016	Sep 21, 2016	334	330	402
L&T Technology Services Ltd IPO	Sep 12, 2016	Sep 15, 2016	860	920	757
RBL Bank Ltd IPO	Aug 19, 2016	Aug 23, 2016	225	274	550

So from the above study it's clear that those shares which were having good fundamentals and were highly oversubscribed have given good returns after listing.

We think companies with good and clean finamcials, growth oriented is always a good buy even if it is listed at higher price on its debutant.

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