PhysicsWallah IPO Allotment, GMP LIVE Updates: Investors await share allotment results for the PhysicsWallah IPO today. Here’s the latest on allotment status, refund process, Demat credit, GMP trends, and expected listing date.
PhysicsWallah raised Rs 3,480 crores through a combination of 28.44 crore fresh shares worth Rs 3,100 crores and an offer for sale of 3.49 crore shares amounting to Rs 380 crores. The IPO price band was kept between Rs 103 and Rs 109 per equity share.
The company opened IPO bidding on November 11 and closed on November 13. Post the allotment, the shares will list on BSE and NSE on November 18, as per the tentative schedule.
| PhysicWallah IPO | Key Details |
| Issue Price | Rs 103-109 per share |
| IPO Date | November 11-13 |
| GMP | 0% |
| IPO Allotment date | November 14 |
| Listing date | November 18 |
PhysicsWallah IPO: Registrar and book runner
The issue included a reservation of up to 7.52 lakh shares for employees, which were offered at a discount of Rs 10 to the issue price. Kotak Mahindra Capital Co. was the book-running lead manager of the issue, and MUFG Intime India was the registrar for the IPO.
PhysicsWallah IPO: Expert take
PhysicsWallah’s IPO is priced at a P/Revenue multiple of 7.5x on a TTM basis, reflecting its rapid growth in subscriptions and user base, said Deven Choksey Research in an IPO note. Despite historical losses and governance concerns, the company’s strong brand, community-driven model, and expansion strategy support subscription for listing gains. “The fresh issue proceeds will fund inorganic growth and technology enhancements, aligning with sector tailwinds like hybrid learning and digital penetration. We recommend ‘Subscribe’,” said the brokerage.
Physics Wallah IPO Allotment LIVE: Check allotment status, refund details, GMP today, listing date, and price band
PhysicsWallah IPO Subscription Status, GMP Live: Online and offline revenue generation
For Q1FY26, the company generated a total revenue of Rs 847 crore from its operations. Of this, revenue worth Rs 339 crore came from its online channel, while Rs 413 crore worth revenue was generated from its offline channel. The edutech generated Rs 35 crore revenue from its other channels.
PhysicsWallah IPO Subscription Status, GMP Live: Employee count and offline centers
As of Q1FY26, the company's total employee headcount stood at 18,028. Of this, total faculty members were 6,267 while 913 were consultants. The company operates a total number of 303 offline centers, which include PW Vidyapeeth centers, PW Pathshala centers, etc.
For Q1FY26, the company deployed capital worth Rs 418.4 crore for its offline centers, an increase of 41% compared to the same period last year. For Q1FY25 , the company had deployed Rs 298.4 for the same.
PhysicsWallah IPO Subscription Status, GMP Live: Fund utilisation
The edutech plans to deploy IPO proceeds worth Rs 460.5 crore towards the expansion its hybrid learning ecosystem. This includes setting up new offline centers, spending capital towards strengthening its technological infrastructure, and investing in new verticals.
PhysicsWallah IPO Subscription Status, GMP Live: About the company
The company primarily provides preparation courses and material for competitive examinations like JEE, NEET, SSC, UPSC, etc. It provides online, offline and hybrid courses across its centres. As of June 30, 2025, the Physics Wallah's Youtube community had 9.8 crore subscribers.
PhysicsWallah IPO Subscription Status, GMP Live: Price band and listing price
The allotment for Physics Wallah's IPO is likely to be finalised on November 14. The estimated listing price for the company's IPO is Rs 109. The price band for the IPO was set at Rs 103–Rs 109 per share