Categories: Business

PhysicsWallah IPO Day 1: Strong Start As Edtech Giant Opens Subscription; GMP At ₹3 Signals Steady Demand

PhysicsWallah IPO Day 1: PhysicsWallah’s IPO opened for subscription today with a price band of ₹103–₹109. GMP stands at ₹3, indicating steady demand as investors eye India’s first major edtech IPO debut.

Published by Aishwarya Samant
Published: November 11, 2025 09:54:59 IST

PhysicsWallah IPO Day 1 Updates | Subscription Opens

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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

Price Band: Set between ₹103 to ₹109 per share.
Issue Structure:
- Fresh issue of equity shares worth ₹3,100 crore.
- Offer-for-sale (OFS) of shares worth ₹380 crore by promoters.
Promoter Participation:
- Co-founders Alakh Pandey and Prateek Boob will each sell shares worth ₹190 crore via OFS.
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Promoter Holdings:
- Both currently hold a 40.31% stake in PhysicsWallah.

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

IPO Opens: November 11, 2025
IPO Closes: November 13, 2025
Allotment Finalization: November 14, 2025
Refunds Initiation & Share Credit: November 17, 2025
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.

(With Inputs)

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Aishwarya Samant

Aishwarya is a journalism graduate with over three years of experience thriving in the buzzing corporate media world. She’s got a knack for decoding business news, tracking the twists and turns of the stock market, covering the masala of the entertainment world, and sometimes her stories come with just the right sprinkle of political commentary. She has worked with several organizations, interned at ZEE and gained professional skills at TV9 and News24, And now is learning and writing at NewsX, she’s no stranger to the newsroom hustle. Her storytelling style is fast-paced, creative, and perfectly tailored to connect with both the platform and its audience. Moto: Approaching every story from the reader’s point of view, backing up her insights with solid facts.
Always bold with her opinions, she also never misses the chance to weave in expert voices, keeping things balanced and insightful. In short, Aishwarya brings a fresh, sharp, and fact-driven voice to every story she touches.

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