Tue Nov 18 05:10:00 UTC 2025: Summary:

PhysicsWallah, the Indian edtech company, is set to debut on the BSE and NSE on November 18, 2025, after its IPO. The IPO, priced between ₹103 and ₹109, was open from November 11-13 and was subscribed 1.81 times overall. The Grey Market Premium (GMP) suggests a listing price of around ₹123 per share, a premium of nearly 13%. While the company has seen substantial revenue growth, profitability remains a concern, making the IPO a long-term investment play.

News Article:

PhysicsWallah Set for Market Debut: IPO Listing Today

Mumbai, November 18, 2025 – Edtech firm PhysicsWallah is poised to begin trading on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) today, marking a significant moment for the Indian education technology sector. The IPO, which concluded on November 13th, saw a subscription rate of 1.81 times.

The IPO price was between ₹103 and ₹109 per share. Market analysts predict a positive opening, with the Grey Market Premium (GMP) currently suggesting a listing price of approximately ₹123 per share, around a 13% premium.

PhysicsWallah raised ₹3,480.71 crore through the IPO, a mix of fresh issue and offer-for-sale (OFS). The retail portion of the IPO was subscribed 1.06 times, while the Non-Institutional Investors (NII) portion was subscribed 48%. The Qualified Institutional Buyers (QIB) category saw the strongest demand, with a subscription rate of 2.70 times.

While PhysicsWallah has experienced impressive revenue growth, increasing from ₹772 crore in FY23 to over ₹3,000 crore in FY25, questions remain surrounding its profitability. Cumulative losses across FY23-FY25 exceed ₹1,400 crore.

“PhysicsWallah IPO marks a defining moment for India’s edtech sector,” said Bhavik Joshi, Business Head, INVasset PMS. “The company’s revenue has expanded sharply… However, profitability remains elusive… The negative earnings base and a steep valuation multiple make this IPO a play on long-term execution rather than immediate returns.”

Trading on PhysicsWallah shares will begin at 10:00 AM today. Investors are advised to consult with financial experts before making any investment decisions.

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