Can IPO listed below issue price?

Yes, an IPO can list below the issue price (also known as an IPO listed at a discount). The IPO listing price is mainly the result of supply and demand for IPO shares in the market.

There are many factors that can lead to a negative listing of IPO shares:

• Market sentiment on the day of listing.
• Higher selling pressure due to short-term profit taking.
• The public issue poorly subscribed and the market doesn't have enough demand for the company's shares.