Corporate governance has long been recognized as one of the prominent factors that leads to the financial distress of a firm. Corporate governance simply refers to the way a corporate is governed, controlled and managed in an effective and transparent manner. Most of the studies have examined the association between corporate governance attributes with firm’s performance as well as survival. However, it has been observed that if corporate governance attributes influence the performance as well as survival of the firm, this surely would have some link with the survival of Initial public offering (IPO) in the aftermarket. Considering this viewpoint, a few researchers have started exploring the linkage between corporate governance attributes and IPO survival across the world. The studies have taken several measures of corporate governance such as board size, board independence, ownership concentration and dual leadership structure, and found significant results for the same with IPO survival. However, there still persists a huge gap in this area as far as Indian IPO market is concerned. No study has explored the concept of IPO survival in the context of corporate governance in India. Hence, this paper attempts to reconnoiter the role of corporate governance in determining IPO survival and intensively reviews the existing literature on corporate governance and IPO survival.