This research presents a summary of empirical research on initial public offerings (IPOs) from 2010 to 2023, concentrating mainly on pricing anomalies, like underpricing in Indian and global markets. In these markets, average first-day returns reach 14.45% due to information asymmetries, market overvaluations, and firm signals such as oversubscription, which boost gains while dividend yields curb volatility. Traditional theories are challenged by these findings because insiders seem to have advantages and the market often gets overheated. Of course, SEBI regulations influence offer bands and subscriptions. Besides this, ESG disclosures made by companies let investors know what the companies are really doing, so these disclosures are a big plus point for the firms that want to be sustainable in terms of environment, social, and governance components. At the same time, the macroeconomic factors like the ones that cause the overall prices to increase (inflation and so on) have an impact on the volume of the transactions in the market. P/E (price-earnings) ratios plunge even during the periods of thematic strength. The problems in the researches highlight the lack of methodological rigor, small sample sizes and insufficient coverage of the post-2023 SME/digital sentiment aspect, which have limited depth. So, we need integrated behavioural-quantitative frameworks and meta-analyses to help refine predictive models not only for scholars but also for new investors and regulators who have to deal with constantly changing/dynamic emerging markets