PhysicsWallah IPO Day 1 Updates | Subscription Opens
The much-awaited PhysicsWallah IPO opened for subscription on Tuesday, November 11, and will close on Thursday, November 13.
Investors are watching closely as this is India’s first major IPO from a pure edtech company. The price band has been fixed between ₹103 and ₹109 per share, while the Grey Market Premium (GMP) stands at ₹3, indicating mild but steady demand.
Despite the modest premium, excitement remains high to see how India’s popular education platform performs on its market debut, marking an important milestone for the country’s growing edtech sector.
PhysicsWallah IPO Day 1: IPO Details and Price Band
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Price Band: Set between ₹103 to ₹109 per share.
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Issue Structure:
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Fresh issue of equity shares worth ₹3,100 crore.
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Offer-for-sale (OFS) of shares worth ₹380 crore by promoters.
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Promoter Participation:
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Co-founders Alakh Pandey and Prateek Boob will each sell shares worth ₹190 crore via OFS.
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Promoter Holdings:
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Both currently hold a 40.31% stake in PhysicsWallah.
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PhysicsWallah IPO Day 1: IPO Objectives
| Purpose | Allocation (₹ crore) | Description |
|---|---|---|
| Development of new offline & hybrid centers | 460.5 | Expansion of physical and blended learning infrastructure |
| Lease payments for existing centers | 548.3 | Rental and lease obligations for current centers |
| Investment in Xylem Learning | 47.2 | ₹31.6 crore for new centers, ₹15.5 crore for hostels |
| Lease payments for Utkarsh Classes | 33.7 | Covering rental commitments |
| Server & cloud infrastructure | 200.1 | Enhancing tech capabilities and scalability |
| Marketing initiatives | 710 | Brand building and customer acquisition |
| Increase stake in Utkarsh Classes | 26.5 | Strengthening ownership and strategic control |
PhysicsWallah IPO Day 1: IPO Reservation Structure
| Category | Allocation | Details |
|---|---|---|
| Qualified Institutional Buyers (QIBs) | At least 75% | Reserved for institutional investors |
| Non-Institutional Investors (NIIs) | Up to 15% | Includes HNIs and corporates |
| Retail Investors | Up to 10% | For individual public investors |
| Employees | ₹70 million worth of shares | Special quota for company employees |
PhysicsWallah IPO Day 1: Grey Market Premium (GMP) Trend
- Current GMP: ₹3, indicating a potential listing price of around ₹112 per share, about 2.75% above the upper price band.
- Recent Trend: GMP has ranged between ₹3 and ₹9 over the past week, showing a slight downward movement.
- Market Sentiment: The lower GMP suggests cautious investor mood, even though the company’s fundamentals remain strong.
- Meaning of GMP: The Grey Market Premium reflects how much investors are willing to pay above the IPO issue price, often seen as an early signal of demand before listing.
PhysicsWallah IPO Day 1: Key Dates
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IPO Opens: November 11, 2025
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IPO Closes: November 13, 2025
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Allotment Finalization: November 14, 2025
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Refunds Initiation & Share Credit: November 17, 2025
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Listing on BSE & NSE: November 18, 2025
PhysicsWallah IPO Day 1: Anchor Investors
- Funds Raised: PhysicsWallah secured ₹1,563 crore from anchor investors on Monday.
- Significance: Marks India’s first major IPO from a fully edtech-focused company.
- Investor Participation: The anchor book included 57 funds in total.
- Domestic Investors: ICICI Prudential MF, Kotak Mahindra MF, Nippon India MF, Aditya Birla Sun Life, Motilal Oswal MF, Tata MF, and DSP MF.
- Global Investors: Goldman Sachs, Fidelity, and Templeton were among key international participants.
- Share Allocation: 14.33 crore equity shares allotted at ₹109 per share, raising ₹1,562.85 crore in total.
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