PhysicsWallah IPO Day 2: Check Subscription Status, GMP, Financials, And Other Details

PhysicsWallah Ltd. initial public offer was subscribed 10% so far on the second day on Wednesday. The IPO was subscribed 7% on the first day.

Delhi-based leading ed-tech company PhysicsWallah aims to raise up to Rs 3,100 crore through a fresh issue, and co-founders Alakh Pandey and Prateek Maheshwari will sell equity worth Rs 380 crore via an offer-for-sale. Both founders own over 80% stake.

The mainboard IPO comprises a fresh issue of 28.44 crore shares, valued at Rs 3,100 crore, and an offer-for-sale (OFS) of 3.49 crore shares, amounting to Rs 380 crore.

The IPO price band has been fixed at Rs 103-Rs 109 per share. Retail investors need to apply for at least a single lot size of 137 shares, amounting to a minimum investment of Rs 14,933 at the upper limit of the issue price.

PhysicsWallah will utilise the proceeds from the fresh issue for various purposes. It will use Rs 710 crore for marketing initiatives, Rs 548 crore for lease payments of existing identified offline and hybrid centers operated by the company, Rs 460 crore for capital expenditure for fit-outs of new offline and hybrid centers, and Rs 471 crore for investment in subsidiary Xylem Learning Pvt.

The PhysicsWallah IPO has been subscribed 10% on Day 2 as of 11:11 a.m.

• Qualified Institutional Buyers (QIBs): 0 times.

• Non-Institutional Investors (NIIS): 0.03 times or 3%.

• Retail Individual Investors: 0.44 times or 44%.

• Employee Reserved: 1.40 times.

The latest GMP for the PhysicsWallah IPO stood at Rs 1.5. With an upper price band of Rs 109 per share, the estimated listing price is likely to be Rs 110.5, as per Investorgain. This implies an expected listing gain of 1.38% per share for the PhysicsWallah IPO investors.

Note: GMP does not represent official data and is based on speculation. GMP data as per InvestorGain.

PhysicsWallah, which started as a YouTube channel, is an Indian ed-tech company that offers affordable and comprehensive educational courses primarily for competitive examinations and professional upskilling.