IPO market timing is
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The session would commence for 60 minutes between 9:00am and 10.00 am out of which order placement in the Pre Open session would be allowed for the first 45 minutes only. The rest of the time would be utilized for exchange related functions as illustrated in the indicative schedule mentioned below.
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In short, firms attempt to time the IPO market. ... The main result of the analysis is that IPO market timing obtains as an equilibrium outcome. High offer price realizations facilitate a stronger spillover effect and trigger more subsequent IPOs than low price realizations do.
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