Excellent research as always and thanks for sharing. As I posted few times in the past , IPO Investing is more of an art than science . Lot of different factors play their parts in the outcome of an IPO .Also it got fair amount of randomness in the process which makes it even more interesting . An Open mind to new ideas , Willing to back your own analysis , experience , intuition , ready to accept the outcome , willing to average down or following some risk management tools to minimise your losses are some of the qualities needed to be a successful IPO investor.
Well done for picking some really good IPOs and avoiding some duds.