Where to find the undo list? How do I get the list of operations done in blender? Usually Undo/redo are found under edit menu. But I'm not able to locate undo list. 

This wiki page says by pressing AltU it should show history. But somehow I'm not able to view it. 

Note: I'm new to blender.
Try CtrlAltZ. That wiki page is for Blender 2.4x.

Here's the 2.6x page (which is current for 2.7x, as there is no 2.7x wiki yet)

If you want to access it from a menu, it's in 3D view > Header > Object:



If you want to access it from a toolbar, it's in 3D view > Toolshelf (T) > Tool > History: