Ghorui, SatavishaSatavishaGhoruiShukla, Anurag2026-05-042026-05-042026-01https://gnanaganga.alliance.edu.in/handle/123456789/10743Between 2020 and 2025, the Indian capital market saw a big rise in Initial Public Offerings (IPOs), mostly from technology, renewable energy, and consumer-focused companies. Sustainable finance has become very popular around the world, and more and more investors are using Environmental, Social, and Governance (ESG) criteria to make their investment decisions. Research from developed markets indicates that robust ESG disclosures can elevate firm valuation, mitigate information asymmetry, and enhance post-listing performance. However, empirical evidence from India is still limited and inconsistent. Even though regulators are paying more attention to sustainability, especially through SEBI's Business Responsibility and Sustainability Reporting (BRSR) framework, and green finance initiatives are growing quickly, the question remains: Does sustainability affect IPO performance in India? This study seeks to fill this research void by analysing the correlation between ESG disclosures and IPO performance in Indian companies from 2020 to 2025. The analysis contrasts ESG-positive and ESG-negative IPOs across multiple sectors, employing t-tests and regression models to assess their under-pricing behaviour and aftermarket returns over six-month and twelve-month intervals. The next chapter looks at existing academic research to give a theoretical and empirical background for understanding how ESG practices are linked to IPO performance in both Indian and global markets.enInitial Public Offerings (IPOs)Business Responsibility and Sustainability Reporting (BRSR)text::report