This document discusses the significance of initial public offering (IPO) in Australia and its impact on cost of equity. It analyzes three different IPOs conducted in Australia and examines the change in cost of equity after acquiring funds from the share issue. The document also discusses the implications of under-pricing in IPOs and scrutinizes the change in IPO activity in Australia from 2007 to 2017. Additionally, it links the returns of Australian index with the 5 years performance of the IPOs.