Today marks the stock market debut of PhysicsWallah, with the edtech company's shares set to trade on Dalal Street. This moment follows last week’s favorable response from investors, contributing to a palpable excitement.
The public offering, which lasted three days from November 11 to November 13, saw allotments confirmed on November 14. The shares will be available on both BSE and NSE, signifying a significant achievement for one of India’s burgeoning educational platforms.
Prior to the listing, the grey market exhibited optimistic signs. PhysicsWallah shares were trading at a premium of ₹9, indicating a potential listing around ₹118, surpassing the upper issue price of ₹109. This reflects robust investor enthusiasm and expectations for a solid start.
The IPO amassed a total of ₹3,480.71 crore, combining new shares with an offer-for-sale. The fresh issue of 28.45 crore shares generated ₹3,100.71 crore, while the OFS contributed ₹380 crore. The price range for the offering was established at ₹103 to ₹109.
In summary, this IPO witnessed an overall subscription rate of 1.81 times, with the Qualified Institutional Buyer (QIB) segment experiencing the highest demand at 2.70 times. Retail subscriptions stood at 1.06 times, while Non-Institutional Investors recorded a 48% subscription rate. Given these figures, analysts anticipate a cautious yet optimistic listing.
As trading kicks off, investors are eagerly monitoring PhysicsWallah's inaugural performance to see if the initial grey market energy translates into market reality.
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