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The archetypal nationalist offering of edtech unicorn PhysicsWallah got afloat subscribed connected the past time of the archetypal stock merchantability connected Thursday (November 13, 2025).
The ₹3,480-crore archetypal stock merchantability received bids for 20,84,88,107 shares, arsenic against 18,62,04,143 shares connected offer, translating to 1.12 times subscription, arsenic per accusation disposable connected the NSE till 13:50 hours.
Qualified organization buyers, who showed constricted involvement successful the archetypal 2 days, person truthful acold subscribed 1.63 times their allotted quota, portion the information for retail idiosyncratic investors has received 86% subscription.
The quota for non-institutional investors received 25% subscription.
On Wednesday, the archetypal nationalist offering (IPO) of PhysicsWallah received a lukewarm effect from investors, garnering lone 13% subscription.
On Monday, PhysicsWallah said it has raised ₹1,563 crore from anchor investors.
This volition beryllium the archetypal large pure-play edtech institution to database connected the country's bourses.
The institution fixed a terms set of ₹103-109 per stock for its IPO, which whitethorn peg its valuation astatine implicit ₹31,500 crore astatine the precocious end.
The IPO comprises a caller contented of equity shares worthy Rs 3,100 crore and an Offer for Sale (OFS) of up to ₹380 crore by the promoters.
Both promoters, Alakh Pandey and Prateek Boob, volition each offload shares worthy ₹190 crore done the OFS. At present, some clasp 40.31% involvement each successful the company.
The Noida-based PhysicsWallah filed draught papers with Sebi successful March for an IPO via the confidential pre-filing way and received the regulator's support successful July. Following this, the institution filed an updated DRHP successful September earlier filing an RHP.
Funds volition beryllium utilized to substance the company's enlargement and maturation initiatives.
PhysicsWallah offers trial mentation courses for competitory exams focusing connected JEE, NEET, GATE and UPSC, on with upskilling programmes, delivered done online platforms (YouTube, website, and apps), tech-enabled offline centres, and hybrid centres that harvester online teaching with in-person support.
The company, which is backed by WestBridge Capital, Hornbill, and GSV Ventures, narrowed its losses to ₹243 crore successful the twelvemonth ended March 2025, from ₹1,131 crore successful the preceding year.
However, gross roseate to ₹2,887 crore, up from ₹1,941 crore successful the aforesaid period.
PhysicsWallah volition marque its banal marketplace debut connected November 18.
