A study has initiated to analyse the recent IPOs in India. Investors have various options to invest like mutual funds, stock market, gold and bank deposits so on so forth. IPO means the primary market or the chance to invest directly to the companies before reaching the stock market. Here the research made an attempt to investigate whether the IPOs happening in India has the nature of giving return or not. In order to find the answer, out of 393 IPOs happened during the period 2022-2023, 68 companies were chosen based on the issue size 500 Crore and above during the period. The study focuses on understanding the performance of IPO and whether it creates wealth on investors or not. It aims to determine whether investing in these IPOs has been a financially sound decision for investors. The analysis was done both short-term and long-term returns, companies were classified based on their returns and a comparative analysis also done based on their performance relative to bond yields and benchmarks index returns. The study found that there are 22 companies recorded above average return of 67.8% till April 30, 2024. A notable correlation was observed between the level of subscription and subsequent wealth creation for the immediate one month, suggesting that highly subscribed IPOs tend to perform better in near future. 73.5% companies exceed the bond yield of 7.1%. This suggest that the investors can expect more than the risk-free rate of return from the IPO investment. 66% companies exceed the bench mark return of 17.6%. This suggest that the investors can expect more than the bench mark return from the IPO investment.