Bumper debut! PhysicsWallah lists at 33% premium, beats GMP forecasts

PhysicsWallah share price: On the BSE, the PhysicsWallah shares opened at ₹143.1, a premium of 31.2 per cent

PhysicsWallah IPO listing, PhysicsWallah share price: The much-awaited listing of edtech player PhysicsWallah made a bumper debut on Dalal Street in an otherwise subdued market. The company's shares listed at ₹145 on the NSE, a premium of ₹36 or 33 per cent from the issue price of ₹109. Soon after listing, the stock touched a high of ₹161.99, up 11.7 per cent from the listing price. 

 

On the BSE, the PhysicsWallah shares opened at ₹143.1, a premium of 31.2 per cent. Post-listing, the stock rose around 13 per cent from the issue price to a high of ₹161.  READ PHYSICWALLAH SHARE PRICE UPDATES LIVE

 

PhysicsWallah IPO subscription rate

According to National Stock Exchange (NSE) data, PhysicsWallah IPO received a muted response from investors, with overall subscription reaching only 1.92 times. Investors placed bids for 336.22 million equity shares against the 186.2 million shares on offer. Qualified Institutional Buyers (QIBs) led the demand, oversubscribing their allotted quota by 2.7 times. The retail investors segment was subscribed 1.06 times, while the Non-Institutional Investors (NIIs) portion received 48 per cent bids compared to the shares reserved.

PhysicsWallah IPO details

PhysicsWallah successfully raised ₹3,480.7 crore through its initial public offering, which comprised a fresh issue of 284.5 million equity shares and an offer for sale (OFS) of 34.9 million equity shares. As part of the OFS, founders Alakh Pandey and Prateek Boob will offload a portion of their holdings.

 

The IPO was offered in the price band of ₹103 to ₹109 per share, with a minimum application lot of 137 shares. The issue was open for subscription from November 11 to November 13. The allotment of shares was finalised on Friday, November 14.  ALSO READ | Emmvee Photovoltaic share makes muted debut, lists flat at ₹217 on BSE, NSE 

According to the company’s Red Herring Prospectus (RHP), PhysicsWallah proposes to utilise ₹460.1 crore from the fresh issue proceeds for setting up new offline and hybrid centres, and ₹548.3 crore towards lease payments for its existing centres. It will also invest ₹4.2 crore in Xylem Learning and ₹28 crore in Utkarsh Classes Edutech.

 

Additionally, ₹200.1 crore will be allocated for server and cloud infrastructure, ₹710 crore for marketing initiatives, and ₹26.5 crore to acquire a larger stake in Utkarsh Classes & Edutech. The remaining funds will be utilised for acquisitions and general corporate purposes.