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44m ago

PhysicsWallah Soars 33% On Market Debut After Rs 3,480-Crore IPO

The edtech firm's stock opened about one-third above the issue price, outpacing grey‑market projections for a modest pop.

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Mixed brokerage views; some advise long-term subscribe. (Photo: ITGD)
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Overview

  • The shares listed at Rs 145 on the NSE and Rs 143.10 on the BSE versus the Rs 109 issue price, then touched Rs 161.81 intraday on the NSE.
  • The Rs 3,480 crore issue comprised a Rs 3,100 crore fresh issue and a Rs 380 crore offer for sale, priced in the Rs 103–109 band.
  • Overall subscription stood at 1.81 times, with QIBs at 2.70 times, retail at 1.06 times and NIIs at 0.48 times, while the employee quota was heavily bid.
  • Pre-listing grey-market indications suggested roughly 7–13% upside, but the on-exchange debut delivered a far stronger premium.
  • Proceeds are allocated to marketing (Rs 710 crore), lease payments (Rs 548 crore), new-centre capex (Rs 460 crore) and Xylem investment (Rs 471 crore), with Rs 1,562.85 crore raised from anchors and promoters' holding set to ease to about 72%.