The post pandemic initial public offerings (IPOs) and their success in relation to the Banking, Financial Services and Insurance (BFSI) sector in India is investigated in this research. The listing day return and the returns at periodic intervals such as the 30th day and 90th day are studied in this research. Listed between 2018 and 2022, 17 IPO performances in relation to the market returns were analysed using Market Adjusted Returns (MAR) and Wealth Relative (WR). The relationship between the Market returns and the IPO returns was assessed statistically using regression analysis. IPO returns frequently mirror the performance of the market [1]. But the reality is that the IPO returns are found to be often worse than the performance of the market as the whole. This research focused on the BFSI sector in India also witnessed the similar pattern of insignificant influence of the market return on the returns of the IPO shares. While market movements are essentially to be studied, the company related factors such as the financials, the expertise of the management, the business strategy, vision and mission, investor confidence etc. are also crucial to be studied. As an investor this study recommends not to just rely only on the market returns and rather to pay attention to the company related, industry related and economy related factors before investing in an IPO. As a company especially from the BFSI sector, it should exercise appropriate pricing strategy to attract investors as the industry is highly regulated and the macro-economic conditions have a direct impact.