Indian primary markets are emerging because the fast-growing markets and have a possible of acting as an investment avenue. If investors sell the share on the very first day of listing, they will reinvest the identical money in another IPO and repeat the identical process throughout the year. The wait from the offer date to the listing date in India is around 12 working days. Hence, investors have the chance of earning huge returns in barely 12 days lag and thereafter reinvest the same money in another IPO. But doing so needs an efficient evaluation of the IPOs and forecasting the returns. Such evaluation depends upon the technical and fundamental information available to the investors in the type of detailed prospectus and other reliable information sources. But do the investors take the advantage of all the data available to them? During this research work, a trial has been made to review and find the relevant information for an IPO evaluation in the stock market. Also, an endeavor has been made to eliminate the data asymmetry for the retail investors by educating them of the factors for IPO evaluation and making the correct judgment for investing in an IPO. An investor needs more protection in the primary market because the risk is incredibly high because the primary time valuation of the corporate may get it wrong, there's no prior stock history available and therefore the fundamentals of the corporate might not be known to the investors. For this purpose, two forms of studies have to be undertaken. One to check the determinants that cause the primary day underpricing and second to check the investors’ attitude about the IPO underpricing in Indian market.

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Keywords: Underpricing, Investor, Prospectus, Evaluation, Information, Derivative, Capital Market.