PhysicsWallah IPO: Alakh Pandey's company's shares surge 33% in debut, market cap reaches Rs...

PhysicsWallah Stock Debut: Shares of Alakh Pandey's edtech unicorn PhysicsWallah Ltd were listed with a strong gain of 33 per cent against the issue price of Rs 109 on Tuesday. The stock started trading at Rs 143.10, registering a jump of 31.28 per cent from the issue price on the BSE, becoming the first major pure-play edtech company to debut on the exchanges. At the NSE, the stock got listed at Rs 145, a premium of 33 per cent from the issue price. 

PhysicsWallah Market Cap

The company's market valuation of PhysicsWallah Ltd stood at Rs 44,751.33 crore, as of November 18. Its shares surged 43.57 per cent to close at Rs 156.49 on Tuesday.

PhysicsWallah IPO subscription

The initial public offering (IPO) of PhysicsWallah received nearly 2 times the subscription on the final day of bidding on Thursday last week. The Rs 3,480-crore initial share sale had a price band of Rs 103-109 per share. The IPO had a fresh issue of equity shares worth Rs 3,100 crore and an offer for sale (OFS) of up to Rs 380 crore by the promoters. Funds will be used to fuel the company's expansion and growth initiatives.

PhysicsWallah listing

Noida-based PhysicsWallah filed draft papers with Sebi in March for an IPO via the confidential pre-filing route and received the regulator's approval in July. Following this, the company filed an updated DRHP in September before filing an RHP.

What is PhysicsWallah?

It is an edtech unicorn, which offers test preparation courses for competitive exams focusing on JEE, NEET, GATE and UPSC, along with upskilling programmes, delivered through online platforms (YouTube, website, and apps), tech-enabled offline centres, and hybrid centres that combine online teaching with in-person support.

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