New Delhi: The shares of edtech company PhysicsWallah made their stock market debut on 18 November, i.e., Tuesday. The company’s shares were listed on the NSE at Rs 145.00 per share with a premium of 33.03 per cent as against its issue price of Rs 109 per share. At the same time, PhysicsWallah’s shares were listed on the BSE at Rs 143.10 per share, which is 31.28% more than its issue price. Investors made good money with the huge entry of Edtech company’s IPO in the market.

The company’s market valuation stood at Rs 43,453.03 crore at the time of writing this article.

Edtech – the edtech firm of Alakh Pandey is very popular among students. However, despite this, the IPO did not get as many subscriptions as expected. PhysicsWallah’s IPO received 1.92 times the subscription overall. It was subscribed 1.14 times in the retail category, 2.86 times in the QIB category and 0.51 times in the NII category.

PhysicsWallah IPO GMP jumped

The latest GMP of PhysicsWallah IPO was recorded at Rs 14 on the morning of 18th November. It was estimated to be listed in the price band of Rs 109 to Rs 123. It was showing a listing gain of 12.84%. The surge in its grey market premium was seen before the listing. Prior to this, it was roaming between 5 and 9 rupees.

This edtech company helps students who are preparing for competitive exams like 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. This platform runs on a hybrid model of online content and offline classes.

The PhysicsWallah IPO garnered nearly 2 times 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.

While filing its draft papers with market regulator SEBI, PhysicsWallah opted for the confidential pre-filing route and the regulator gave its nod in July. Following this, the company filed an updated DRHP in September before filing an RHP. The edtech mentioned that the proceeds will be used to fund the company’s expansion and growth initiatives.

(Disclaimer: This article is only meant to provide information. News9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, gold, silver and crypto assets.)