PhysicsWallah IPO GMP, Subscription Status Live Updates: The wait is finally over for investors looking to participate in the PhysicsWallah IPO. The issue is opening for subscription today, November 11. The company, known for its online and hybrid learning programs for competitive exams, is entering the market with a price band of Rs 103-109 per share. Subscription will remain open until Thursday, November 13.
| PhysicsWallah IPO | Key Details |
| Price Band | Rs 103-109 per share |
| IPO Date | November 11-November 13 |
| GMP | 3% |
| IPO Allotment date | November 14 |
| Listing date | November 17 |
PhysicsWallah IPO: Important dates for allotment and listing
Investors can expect the basis of allotment to be finalised on Friday, November 14, with refunds scheduled for Monday, November 17. Shares will be credited to the demat accounts of successful applicants on the same day. The company is tentatively set to list on the BSE and NSE on Tuesday, November 18.
PhysicsWallah IPO: Know the book running lead managers, registrar
The company has appointed leading investment banks to manage the process. Kotak Mahindra Capital Company, J.P. Morgan India, Goldman Sachs (India) Securities, and Axis Capital are serving as book-running lead managers.
PhysicsWallah IPO Opens for Subscription Live: Follow Live Coverage on PhysicsWallah IPO GMP, Subscription Status, Allotment, Listing Date and More
PhysicsWallah IPO Subscription Status, GMP Live: Fund utilisation
The company plans to deploy IPO proceeds primarily for expanding its hybrid learning ecosystem. This includes setting up new offline centers, strengthening its technology infrastructure, and investing in new verticals such as upskilling and test preparation for government exams.
PhysicsWallah IPO Subscription Status, GMP Live: The big valuation debate
After the Lenskart IPO pricing, a lot of focus is back on the pricing and valuation of IPOs. The PhysicsWallah IPO subscription begins from today and the street is keenly awaiting expert views on the valuation.
Most brokerage reports indicate that the IPO is fairly valued with a 'Subscribe for long-term' rating.
PhysicsWallah IPO Subscription Status, GMP Live: Company’s sales grew exponentially
Talking about the company’s key financials, SBI Securities, in an IPO note stated that over the last three years, PhysicsWallah has delivered Sales/EBITDA CAGR of 96.9% and 88.8% respectively, while the company’s net loss has widened from Rs 81 crore in FY23 to Rs 216 crore in FY25 due to higher depreciation expenses and impairment losses on financial assets.
“At the upper price band of Rs 109, the issue is valued at an EV/Sales multiple of 9.7x based on the post-issue capital, which seems fairly valued. We maintain a ‘Neutral’ view on the issue and would like to monitor the performance of the company post listing,” it said.
PhysicsWallah IPO Subscription Status, GMP Live: Low pricing model works if volume backs it up
SBI Securities said are of the view that the low pricing only works if volume and low acquisition costs back it up, and here PhysicsWallah’s unit metrics are instructive - PW reported 4.13 million unique transacting online users, with an average collection per online user (ACPU) being Rs 3,682, and Rs 14,040 million of online revenue, which is 48.6% of its FY25 revenue.
PhysicsWallah IPO Subscription Status, GMP Live: Key dates and timeline
The IPO will open for subscription on November 11, and close on November 13. The basis of allotment is expected on November 14, and listing on BSE and NSE is likely on November 18.
PhysicsWallah IPO Subscription Status, GMP Live: Price band and lot size
The price band for the IPO has been set at Rs 103–Rs 109 per share. Retail investors can bid for a minimum lot of 137 shares, amounting to an investment of Rs 14,933 at the upper price band. For small non-institutional investors (sNII), the minimum application size is 1,918 shares (Rs 2.09 lakh), while big NIIs (bNII) must bid for at least 9,179 shares (Rs 10 lakh).
PhysicsWallah IPO Subscription Status, GMP Live: About PhysicsWallah
The company started on a YouTube channel and has grown big enough for an IPO. One of the major ed-tech firms, which is owned by the physics teacher Alakh Pandey, sells its flagship online JEE/NEET courses at a fraction of what its competitors charge. It sells the JEE course for Rs 4,500 against peers’ Rs 75,000–80,000 and NEET for Rs 4,800 vs. peers’ Rs 63,000–67,000, a deliberate low-price, high-reach play.