The study aims to investigate the reasons for underpricing of IPO by analyzing the impact of various factors like Issue Size, Stockholder Ownership Structure, and Underwriter Reputation on the Under-pricing of IPOs. The target market chosen was all the IPOs issued In the Indian Stock Market from the Year 2010 to 2019 i.e., 219 Companies, which included 88 Underpriced IPOs and 131 Overpriced IPOs. Initially, exploratory research was undertaken to probe deeper into the topic. After conducting the exploring research, causal research was finalized as the most suitable method to go ahead with. We analyzed the data using tools like Correlation and Regression on various software i.e., Excel and SAS (Enterprise Guide). We concluded the Research by stating a Negligible Positive Relationship of Under-pricing of IPO with Issue Size and a Strong Positive Relationship with QIB and HNI Ownership and a negative Relationship with Retail Investors and Reputation of Underwriters.