Overview
- Overall bids reached roughly a tenth of the offer by late morning on Day 2, with retail at about 45–46%, NIIs at 3–4% and QIB participation effectively nil.
- Unlisted share quotes point to a grey-market premium near Rs 1.5, implying only about 1–3% potential listing upside versus the Rs 103–109 price band.
- PhysicsWallah raised about Rs 1,563 crore from 57 anchor investors at Rs 109 per share before the public offer opened.
- The Rs 3,480 crore issue includes a Rs 3,100 crore fresh issue and a Rs 380 crore OFS by the co-founders, with bidding set to close Nov 13, tentative allotment on Nov 14 and listing on Nov 18.
- Use of proceeds disclosed in the RHP includes about Rs 710 crore for marketing, Rs 548 crore for lease payments, Rs 460 crore for offline centre capex and Rs 471 crore for an investment in subsidiary Xylem Learning, as the company pursues growth despite FY25 and Q1 FY26 net losses.