Cap Price
Cap Price is the highest price in the IPO price range.
Cap price (or ceiling price) is the upper limit of the price band in a book building IPO. Investors cannot bid above this price.
The final IPO price is decided based on demand, but it will always be equal to or lower than the cap price.
Example:
If an IPO has a price band of ₹430 to ₹452, then ₹452 is the cap price. Investors can bid up to this price but not higher.