We have presented varied shaped CdSe nanoparticles (NPs) synthesized by solution-based one-pot hot injection colloidal method by varying the precursor salt of Cd (i.e., cadmium oxide, cadmium chloride, and cadmium acetate) at an optimized Cd/Se ratio (2:1). CdSe nanoparticles of varied shapes and sizes (5–25 nm) were synthesized by using Butylamine and Octadecene as capping ligands and the nucleation and growth mechanism has been explained using LaMer’s diagram. It has been found that Butyl amine owing to its improved capping effect and better surface-traps passivation, aids in emission intensity enhancement of CdSe QD’s. The optical properties of the as-synthesized CdSe colloidal NPs have been investigated in terms of quantum confinement effects to reveal their suitability as a pursuing material for UV-LED. Variation in the morphology of CdSe NPs synthesized using different precursor sources leads to changes in the bandgap for its potential application in QD-based LEDs. To the best of the author’s knowledge, this is the first-hand report on the synthesis of CdSe QD’s from varied Cd-precursor sources using butyl amine and octadecene as capping ligands via hot injection technique for UV-LED applications.