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PhysicsWallah IPO subscribed 15% on third day, up from 13% on second day
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IPO aims to raise Rs 3,100 crore via fresh issue and Rs 380 crore via offer-for-sale
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IPO price band fixed at Rs 103-Rs 109; minimum retail investment Rs 14,933 at upper limit
PhysicsWallah Ltd.'s initial public offer was subscribed 1.81 times on the final day on Thursday. The IPO was subscribed 13% on the second day.
Delhi-based leading ed-tech company PhysicsWallah aimed to raise up to Rs 3,100 crore through a fresh issue, and co-founders Alakh Pandey and Prateek Maheshwari offered to sell equity worth Rs 380 crore via an offer-for-sale. Both founders owned over 80% stake.
The mainboard IPO comprised 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 was fixed at Rs 103-109 per share. Retail investors needed 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.
PhysicsWallah Subscription Status
The PhysicsWallah IPO has been subscribed 1.81 times as of 7 p.m.
Qualified Institutional Buyers (QIBs): 2.7 times
Non-Institutional Investors (NIIS): 0.48 times or 48%.
Retail Individual Investors: 1.06 times
Employee Reserved: 3.49 times.
PhysicsWallah IPO GMP
The latest GMP for the PhysicsWallah IPO declined to nil as of 8:56 p.m. With an upper price band of Rs 109 per share, the estimated listing price is likely to remain Rs 109 per share, according to Investorgain. This implies no listing gain per share for the PhysicsWallah IPO investors.
Note: GMP does not represent official data and is based on speculation. GMP data as per InvestorGain.
About PhysicsWallah
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.
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