Is Zerodha report also includes the IPO Listing gain/loss in overall P&L report?

Is Zerodha report also includes the IPO Listing gain/loss in overall P&L report?

If Yes, then fine.

If Not, then how do we check it in Zerodha account?

In my knowledge they do not

Are IPOs underpriced or under valued ?
Because I have found that majority IPOs have listing gains ranging from 20% to 300% .

So , why do IPOs cutoff price set at so low ? They could have set the cut off price little high also ?