An IPO's issue price is the price at which a company will sell its shares. The IPO then goes on exchange. The opening price of the share at the time of listing is called the listing price. The difference between the issue price and the listing price is affected by how much demand and supply there are for shares. If there is a lot of demand and less supply, then the listing prices will be higher than the issue price. If it is low, then the listing pricing will be lower than the issue price.