The general problem of this study is to determine risk and returns in Initial Public Offerings (IPO) investments. To procure the answers to this inquiry, this study used the descriptive method of research. Moreover, the study made use of different statistical tools for data analysis including stardard deviation, range, arithmetic mean, ratio analysis and percentage analysis, weighted mean and realiabilty coefficient agreement. For the period studied, a total of 39 IPOs were offered and majority of these offerings are the commercial and industrial type.