The book deals with detailed information on a range of issues and factors affecting IPOs along with a comprehensive study of 243 IPOs during the period 2001 to 2009 that contributed to the creation and destruction of wealth. The aim of the study was to find out constraints affecting IPOs and their possible solution through a policy framework. The study looks at various facets of IPOs such as issue price, role of merchant bankers, grading, laws, the policy governing IPOs, along with statistical data and information such as price history, and comparison with the Sensex of these IPOs. The book includes IPOs of the companies from both public and private sector. The book also specifically gives details of over and under-performing IPOs. It contains a guide for small investors. CONTENTS Chapter I is Introduction briefly describing policy framework governing Initial Public Offerings (IPOs) since enactment of SEBI Act in 1992. Chapter II contains Highlights of 243 IPOs study. Chapter III   is salient findings of the Study of 243 IPOs For comparison, PSUs and private companies have been dealt independently. Chapter IV deals with Merchant Bankers who were responsible in pricing of these IPOs. Chapter V is Grading. 60 IPOs out of 243 were graded. Apparent weaknesses of the grading system are briefly discussed. Chapter VI is Conclusions & Suggestions.