PhysicsWallah shares to debut on November 18; GMP signals listing gains
PhysicsWallah IPO shares list on November 18, 2025, with a current GMP of Rs 9. Expected to list at Rs 118, a premium of 8%. Allotment was finalised on November 14 for the Rs 3,480.71 crore issue. Funds target new centres, lease payments, and infrastructure, boosting the Edtech firm's expansion.
New Delhi: The shares of Edtech firm PhysicsWallah will be listed on BSE and NSE on November 18, 2025, Tuesday. The PhysicsWallah IPO GMP stood at Rs 9 at the time of writing thai article. With the price band of Rs 109, the stock is expected to list at Rs 118, indicating a premium of little over 8 per cent.
PhysicsWallah IPO allotment was finalised on November 14, 2025. The public offer was a book build issue of Rs 3,480.71 crores, a combination of fresh issue of 28.45 crore shares aggregating to Rs 3,100.71 crore and offer for sale of 3.49 crore shares aggregating to Rs 380 crore. The IPO was open for subscription from November 11 to November 13, 2025.
PhysicsWallah IPO details
The retail investors were required to bid for a minimum lot of 137 shares for which one had to invest Rs 14,933. The investors who applied in the NII category were required to bid for 14 lots, and bNII portion investors were mandated to bid for 67 lots.
The book running lead manager for PhysicsWallah IPO was Kotak Mahindra Capital Co Ltd, while MUFG Intime India Pvt Ltd is the registrar of the issue.
The Red Herring Prospectus (RHP) of PhysicsWallah mentioned that the edtech firm company planned to use the proceeds amounting to Rs 460.1 crore for capital expenditure on new offline and hybrid centres.
For lease payments of existing centres, PhysicsWallah will spend Rs 548.3 crore.
For Subsidiary Xylem Learning, Rs 4.2 crore will be used.
The Edtech firm will use Rs 28 crore for Utkarsh Classes Edutech.
Rs 200.1 crore will be used for server and cloud infrastructure.
The company will use Rs 710 crore for marketing, and Rs 26.5 crore for acquiring an additional stake in Utkarsh Classes Edutech.
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