Initial Public Offerings are the basic function of stock markets in any country. Sometimes the initial public offerings may give different results on stock prices. This research paper concentrates on IPOs, the company’s share price changes, and their relation with India’s stock market. The IPOs data from January 2021 to December 2021 was used for analysis, and the data of the Bombay Stock Exchange from January 2021 to September 2022 was also considered for the analysis of Stock volatility. The ADF test, correlation, and Initial returns are used to analyze the changes in the IPOs with the stock market. The analysis revealed that Indian Railway Finance Corporation Limited, Kalyan Jewellers India Ltd has negative changes, and CMS Info Systems Ltd, Zomato Ltd, Go Fashion India Limited, and other companies have positive changes. A significant positive correlation was observed between CMS Info Systems Ltd, Star Health and Allied Insurance Company Ltd, and Aditya Birla Sun Life AMC Ltd, and stock market indices and the other companies in the study have a negative correlation.