How NCD IPOs perform post the Issue daily
Muthoot Fincorp IPO - Trades on Day 3
trying to understand, what value does this data provide?
Unlike stocks, there is hardly any “listing gain” in bonds.
So what is the significance of daily traded volume post listing?
In bonds the edge isn’t the pop, it’s the opposite. These NCDs list below par, so the same bond often trades cheaper (higher yield) days after listing than at issue. And daily volume tells you the size you could get at a higher rate , mainly a liquidity indicator or the illiquidity indicator 
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