WACC varies with capital structure.

Business risk remains unchanged.

Cost of debt (Kd) is constant.

Corporate taxes do not exist.

Listing date of IPO

. Final subscription ratio

Market sentiment about IPO

Book value of the firm

Cost of goods sold.

Operating efficiency.

Capital structure.

Sales revenue.

Higher flotation costs

Decreased investor interest

Money left on the table

Oversubscription of shares

BSE

SEBI

RBI

NSE

SEBI penalties

Dividend history

Risk factors and market analysis

Final price

To eliminate tax shield benefits.

To signal overvaluation of current shares.

To reduce financial risk for shareholders.

To avoid asymmetric information problems.

Ability to alter capital structure without high costs.

Maintaining a rigid debt-equity ratio.

Fixed dividend obligations.

Avoiding all debt financing.

Shelf registration

Best efforts

Guaranteed

Firm commitment

WACC continues to decrease indefinitely.

WACC stabilizes and remains constant.

WACC increases due to rising costs of equity and debt.

WACC becomes irrelevant to firm value.