Edtech firm PhysicsWallah shares fell below the IPO issue price, reversing gains seen after listing. The stock traded at Rs 108.44 on Wednesday, compared with its IPO issue price of Rs 143.10 per share, according to data from the Bombay Stock Exchange.
The stock has slipped below its listing level despite growth in earnings.
PhysicsWallah's Q3 Results
PhysicsWallah reported a 33% rise in consolidated profit to Rs 102.27 crore in the December quarter, the company said in a filing on Feb 5. Profit stood at Rs 76.72 crore in the same period a year earlier. Revenue from operations rose 33% to Rs 1,082.41 crore from Rs 809.67 crore a year ago.
For the nine months ended Dec. 31, 2025, the company attributed growth to higher unique paid users, which rose to 43.7 lakh from 36 lakh. Paid users in the online segment increased to 39.6 lakh from 33 lakh. Offline enrolments rose to 4.1 lakh from 3 lakh.
Alongside the earnings update, the company said it will invest Rs 1.5 crore for a 50% stake in Kay Wellness. It also approved the incorporation of a subsidiary, PhysicsWallah Student Housing, to provide hostel facilities in key cities.
Physicswallah IPO
The Delhi-based edtech company listed on the National Stock Exchange at Rs 145, a 33.03% premium to its issue price of Rs 109 per share. On the BSE, the stock listed at Rs 143.10, a 31.28% premium.
PhysicsWallah Share Price Today
Shares traded at Rs 108.44 on Wednesday, up 1.32% intraday.
Total traded volume during the session stood at 6.93 times the 30-day average. The relative strength index — a momentum indicator — was at 58.50.
Of two analysts tracking the stock, one has a buy rating and one has a hold rating, according to Bloomberg data. The average 12-month consensus price target stands at Rs 128, implying a potential upside of 17%.
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