Post by : Bianca
Haleem
Today marks the beginning of PhysicsWallah's journey in the stock market, as the renowned edtech company takes its place on Dalal Street. Following a strong response from investors during the IPO phase, excitement is palpable within the market.
The public offering, which spanned three days from November 11 to November 13, concluded with allotments confirmed on November 14. This listing signifies a pivotal moment for one of India’s rapidly expanding educational platforms, with shares set to trade on both the BSE and NSE.
Leading up to the listing, the grey market revealed optimistic signs, with PhysicsWallah shares being valued at a ₹9 premium, potentially setting a listing price of approximately ₹118 against the upper issue price of ₹109. This suggests a robust interest among investors and expectations for a strong market performance.
The IPO successfully raised ₹3,480.71 crore, incorporating fresh shares as well as an offer-for-sale component. Specifically, the issuance of 28.45 crore new shares garnered ₹3,100.71 crore, while the OFS segment contributed an additional ₹380 crore. The share price range was established between ₹103 and ₹109.
Overall, the IPO was oversubscribed by 1.81 times, with the Qualified Institutional Buyers (QIB) segment seeing the highest subscription rate at 2.70 times. Retail investors subscribed 1.06 times, and Non-Institutional Investors (NII) recorded a 48% subscription rate. With these metrics, analysts speculate a steady yet promising debut.
As trading commences, all attention turns to PhysicsWallah’s performance on its inaugural day, and whether the initial grey market enthusiasm translates into actual market outcomes.
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