@Shiva Ravichandran ,Based on my research and checking in my lab, I find when IIS reset, the event id 3201 in system event log will generate.
So I think we can generate an alert for this event id to get the information. Here is a link for the reference:
https://social.technet.microsoft.com/wiki/contents/articles/51547.scom-monitor-a-specific-windows-event.aspx
Hope it can help.
If the response is helpful, please click "Accept Answer" and upvote it.
Note: Please follow the steps in our documentation to enable e-mail notifications if you want to receive the related email notification for this thread.