IPO valuation has been done across the various countries. Many researchers have done analysis related to initial returns and long run performance of IPO. As far as Indian IPO market is concerned, it provides a natural setting for the purpose of valuing IPO's. IPO in India takes two routes: either a fixed price issue or a book building process. This study has been carried out to see the IPO valuation from the perspective of sponsor and after launch effects. This includes various anomalies prevailing in the market such as under-pricing phenomenon, under performance etc. For this purpose a sample of 498 IPO's were taken initially which has been decreased to 357 IPO's due to lack of data related to them. IPO which have gone public between 2000 to 2010 have been considered. For the purpose of carrying out the analysis, factors have been divided into three segments: fundamental factors, risk factors and signaling factors. The study reveals that it is the fundamental factors which affect the pricing of the IPO most. The performance , it is affected by both the fundamental and risk factors. Signal factors also impact both but the influence is low in comparison to precious study done.