Purpose Conventional wisdom says that the price reduction stocks experience at expiration
of the initial public offering (IPO) lockup period is due to relaxation of selling constraints …

IPO underpricing and the motives behind it are the subject of much debate. In an effort to
minimize the practice of underpricing and to probe the reasons behind it, this study …

Underpricing of IPOs has been contemplated as a prevalent phenomenon across the world.
The principal objective of the article is to investigate the difference in the firm and market …

Selling stock to the general public is one important method by which firms are able to raise
new equity capital. If the firm sells stock for the first time to the general public, it is called an …

A signaling argument has recently been developed whereby IPO underpricing is a signal of
future firm value. Only higher quality firms can be expected to recover the cost of this signal …

Abstract The National Stock Exchange (NSE) is India's first fully demutualized stock
exchange. It is also the largest exchange in India in terms of volumes in both equity and …

IPO lockup is defined as the restricted period during which certain insiders are prohibited
from selling their holdings in the open market. Usually, the lead underwriter imposes the …

This paper separates the amount of IPO underpricing (primary market underpricing) and
overvaluation (secondary market overvaluation) from the value of an IPO's initial return to …

This study investigates the pricing of new issues in the Indian equity market during the
period shortly following the deregulation of the market for new issues. We evaluate the …

Recent evidence from US markets shows that IPO underpricing is associated with high
liquidity for issuing firms. One explanation given for this link is that IPO firms simultaneously …