Purpose: Anchor investor (AI) regulation was introduced in 2009 by the Indian market regulator Securities and Exchange Board of India to facilitate the price discovery process during the book-building mechanism. This study aims to examine the aftermarket pricing performance of initial public...

This article investigates the relationship between subscription rate and aftermarket volatility for IPOs issued in India during the period 2002–12. The empirical findings corroborate the evidence that subscription rate is a good indicator of aftermarket volatility for the IPO stocks. This...

This study investigates subscription rates across institutional and non-institutional retail investors for 149 initial public offerings listed in Indian stock market. We document a positive relationship between underpricing and subscription rate of all investor groups. We also find a significant...

This paper attempts to specify the relationship between post-issue promoter groups' retention and Initial Public Offering (IPO) underprice. We also investigate the impact of signalling and financial variables, i.e. offer size, times subscribed, age of the firm, book value, leverage, market...