Indian edtech big PhysicsWallah, which started as a YouTube channel in 2016, made a robust debut on Dalal Avenue on Tuesday, itemizing its shares at a premium on each main inventory exchanges, NSE and BSE.
Shares of PhysicsWallah Restricted debuted at Rs 143.10 on the BSE, reflecting a 31% premium over the problem value of Rs 109 (higher band). On the NSE, the inventory opened at Rs 145, up 33% from the IPO value.
Though Alakh Pandey’s edtech firm noticed a muted response from traders throughout the first two days of the IPO, it was absolutely subscribed on the ultimate day, with practically 2x subscription, primarily led by QIB traders. Total, it acquired 2.03 lakh IPO functions.
The certified institutional consumers (QIB) phase led the demand with 2.86x subscription, bidding for greater than 27 crore shares in opposition to 9.55 crore on provide. The retail investor class was subscribed 1.14x, with bids for about 3.64 crore shares in opposition to 3.19 crore accessible. The worker quota additionally witnessed robust curiosity, receiving 3.71x subscription, with bids for about 26 lakh shares in opposition to 7.07 lakh reserved.
As compared, the non-institutional investor (NII) class noticed a muted response, recording 0.51x subscription.
The PhysicsWallah IPO is a book-built subject of Rs 3,480.71 crore, comprising a contemporary subject of 28.45 crore shares aggregating to Rs 3,100.71 crore and a proposal on the market of three.49 crore shares price Rs 380 crore. IPO bidding opened on November 11, 2025, and closed on November 13, 2025.
Based in 2020, PhysicsWallah operates 198 offline centres underneath its ‘PW Vidyapeeth’ and ‘Pathshala’ manufacturers, and serves over one crore month-to-month lively customers throughout digital platforms.
For FY25, PhysicsWallah reported income of Rs 2,887 crore, up from Rs 1,940 crore in FY24, whereas losses narrowed sharply to Rs 243 crore from Rs 1,131 crore a 12 months earlier.
In Q1 FY26, it recorded Rs 847 crore in income and a lack of Rs 127 crore.