PhysicsWallah IPO Day 1 Live Updates: Check Key Details, GMP, Analyst Views And Subscription
PhysicsWallah IPO 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.
PhysicsWallah IPO Day 1 Live Updates: Anchor Round Garners Over Rs 1,500 Crore
Mutual funds secured more than half the allocation of PhysicsWallah Ltd. shares in the pre-IPO anchor round on Monday. The mainboard issue is set to open on Nov. 11.
The company raised Rs 1,560 crore from anchor investors. It allotted 14,33,80,733 shares at Rs 109 apiece to 57 entities.
PhysicsWallah IPO Day 1 Live Updates: AI Impact
PhyscicsWallah co-founder, Prateek Maheshwari said artificial intelligence has made learning hyper-personalised. He claimed AI has solved over four crore queries on their platform with 88% accuracy. The company has built up a 100-strong team for AI.
The entrepreneur, however, does not think an AI tutor can ever replace a human teacher in the near future. "If it comes, we will be at the forefront as we have the data and team to crack it," he said.
PhysicsWallah IPO Day 1 Live Updates: South India Expansion Plan
Ed-tech firm PhysicsWallah Ltd. will expand in southern India using the capital boost from the initial public offering, co-founder Prateek Maheshwari said.
"This will be the first midcap education company IPO in India. We are strong in the Hindi heartland and want to expand in southern India," Maheshwari told NDTV Profit.
"This listing will allow us to tap that part of the country. We will have access to large capital, which will allow us to consolidate the market in future," he said.
PhysicsWallah IPO Day 1 Live Updates: Subscription Status
The PhysicsWallah IPO has been subscribed 2% as of 10:30 a.m. on Tuesday.
Qualified Institutional Buyers (QIBs): 0 times.
Non-Institutional Investors (NIIS): 0.01 times or 1%.
Retail Individual Investors: 0.07 times or 7%.
Employee Reserved: 0.11 times or 11%.
PhysicsWallah IPO Day 1 Live Updates: Proceeds Usage
PhysicsWallah will utilise the proceeds from the IPO 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 centres operated by the company, Rs 460 crore for capital expenditure for fit-outs of new offline and hybrid centres, and Rs 471 crore for investment in subsidiary Xylem Learning Pvt.
The company plans to spend this Rs 700 crore over a span of three years.
