PhysicsWallah's IPO Takes Off Today Amid Anticipation

Post by : Bianca Suleiman

Today marks the official launch of PhysicsWallah on Dalal Street as the edtech firm steps into the stock market arena. This listing follows a robust response from investors during its IPO last week, generating considerable excitement in the trading community.

The public offering was open from November 11 to November 13, with allocations confirmed on November 14. The company’s shares will now be listed on both BSE and NSE, a significant achievement for one of India’s rapidly growing educational platforms.

Leading up to the listing, the grey market reflected optimism, with PhysicsWallah shares trading at a premium of ₹9, hinting at a potential listing price of approximately ₹118 against an upper issue price of ₹109. This positive trend showcases strong investor interest and anticipates a stable market entry.

The IPO garnered ₹3,480.71 crore through a combination of new shares and an offer-for-sale. The fresh issuance of 28.45 crore shares raised ₹3,100.71 crore, while the OFS segment contributed an additional ₹380 crore. The price range was established between ₹103 and ₹109 per share.

The IPO was overall subscribed 1.81 times, with Qualified Institutional Buyers (QIB) showing the most interest at 2.70 times. Retail investors subscribed 1.06 times, while the Non-Institutional Investors (NII) segment saw a 48% subscription rate. These figures lead market analysts to predict a cautious yet optimistic market debut.

As trading commences, all eyes are on PhysicsWallah to see if it can capitalize on the initial grey market enthusiasm in the official trading session.