IPO Question

I have an opportunity to get in on an IPO in the next week or so. I’m only a level 1 candidate so I don’t know enough to do my own due diligence to determine if the offering price is fair or not. I have wondered this though: Isn’t it in the best interest of the company to inflate the IPO price as high as possible? The company only gets cash at that IPO price and a decrease on the opening day doesn’t directly hurt the company. Is it the fact that the institutional investors do their homework and only buy at a price they deem fit? That is the only reason for me to believe the price is fair. Thanks