The IPO of PhysicsWallah Ltd., which concluded its subscription on Thursday, will debut on the stock market this week. The share allotment status for the Physics Wallah IPO was finalised on Friday. Successful bidders will be allotted the shares on Monday, November 17.
Shares of PhysicsWallah Ltd. will list on the BSE and NSE on Tuesday, November 18.
Ahead of its listing, the grey market premium, an unofficial barometer of the expected share price, has risen over the last few days. Earlier, amid tepid interest, the GMP for the mainboard offering of the PhysicsWallah IPO had continued to decline, suggesting a high chance of a muted listing, if not a discounted listing.
The IPO of the ed-tech company, which had seen muted investor response going into the third and final day of subscription, saw comparatively reasonable interest on Thursday. The PhysicsWallah IPO was fully subscribed, with an overall subscription of 1.81 times. According to BSE data, investors bid for 336,227,044 shares against the 186,204,143 shares on offer for the PhysicsWallah IPO.
Physics Wallah IPO GMP Today
The grey market premium (GMP) for the PhysicsWallah IPO stood at Rs 9 as of 11:00 a.m. on November 17. This means that the unlisted shares of Physics Wallah Ltd. were trading at Rs 118 in the private market, indicating a listing gain of 8.26% for the ed-tech company's shares.
About PhysicsWallah IPO
The PhysicsWallah IPO is a book-built issue worth Rs 3,480 crore, comprising both fresh shares and an offer-for-sale (OFS) component. The fresh issue involves 28.44 crore shares, valued at Rs 3,100 crore, while the OFS segment comprises 3.49 crore shares, amounting to Rs 380 crore.
The price band for the IPO was set at Rs 103 to Rs 109 per share. A single lot consists of 137 shares, requiring a minimum investment of Rs 14,933 by retail investors.
PhysicsWallah is an edtech company that provides test-preparation courses for exams like JEE, NEET, and UPSC, along with upskilling programmes in data science, banking and finance, and software development.
Use Of Proceeds
Physics Wallah 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.
Note: GMP does not represent official data and is based on speculation.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
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