Multilevel inverter (MLI) has been a different alternative instead of traditional two level inverters and commonly used to obtain quality output voltage with lower Total Harmonic Distortion (THD). In addition, outstanding advantage of MLI is reduced voltage stress of the power switches. However, the structure of MLI needs excessive number of power switches especially for the higher level inverter that supplies lower THD value and lower voltage drop on the semiconductor switches. In this paper, new bridgeless multilevel inverter structure with reduced number of power switches has been proposed. Additionally, the working operations of proposed MLI have been analyzed. Harmonic Minimization Pulse Width Modulation (HMPWM) technique has been applied to proposed MLI and simulation results have been obtained by using Simulink&MATLAB. Simulation results have clearly proved that proposed new MLI's structure can be operated with resistive and inductive load and generate waveform output voltage of traditional MLI by using less number of power switches.