HI @RajeshBhat
It's a vast subject and if you are already a V8 customer by having renewed your ACS licence to V8, you would be under the Adobe Managed Cloud Service offering (See services definition in Product Description Page: Adobe Campaign Managed Cloud Services | Product Description)
As part of ACMCS (Adobe Campaign Managed Cloud Services), you would have a nominated Transition Manager assigned to you and he or she will walk you through the migration process and activities....The migration from ACS to V8 is done under ACMCS team supervision from an Adobe point of view...
Meanwhile, if you are not yet under ACMCS offering, you need to work with your Adobe account team to align your license and they also will be able to assist you to understand the migration path.
You can also always refer to the documentation that provides a high-level view of what will happen
Get started with Adobe Campaign v8 after transitioning from Campaign Standard | Adobe Campaign
As to answer your question on sending IP, your sending IPs will be the same of in ACS and you won't need IP ramp-up phase.... Again, the Transition Maneger will walk you through these topics in more details,
Hope this helps,
Thanks
Denis.