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PhysicsWallah IPO Listing Today: PhysicsWallah shares are set to debut on the stock exchanges; What to expect?
PhysicsWallah IPO
PhysicsWallah IPO Listing Today: PhysicsWallah shares are set to debut on the stock exchanges on November 18, with analysts suggesting that investors adopt a long-term approach while also considering partial profit-booking on listing day.
PhysicsWallah IPO GMP Today
The edtech company’s Rs 3,480-crore IPO was subscribed nearly two times during the November 11–13 bidding window. As of Monday, the stock is commanding a grey market premium (GMP) of Rs 9.5, indicating an estimated 12.8% listing gain over the issue price of Rs 123. The late surge in GMP comes despite moderate subscription levels and a largely muted premium through last week.
PhysicsWallah IPO: Listing Expectations
Narendra Solanki, Head of Fundamental Research – Investment Services at Anand Rathi Shares and Stock Brokers, noted that PhysicsWallah is valued at 10.8 times its FY25 price-to-sales at the upper end of the price band, translating into a post-issue market cap of around Rs 3,117 crore. He said the company plans to grow its user base by offering free content, enhancing tech capabilities, leveraging targeted marketing and expanding expert-led courses.
Solanki added that the company intends to broaden its course catalogue and introduce new categories in multiple Indian languages. “Investors with a long-term view may continue holding the stock, while others could book partial profits and retain some exposure for the long run,” he said.
Bhavik Joshi, Business Head at INVasset PMS, said revenue jumped from Rs 772 crore in FY23 to over Rs 3,000 crore in FY25, signalling strong growth. However, cumulative losses of more than Rs 1,400 crore over FY23–FY25 highlight ongoing profitability challenges. Joshi said the valuation and loss trajectory make this a long-term execution story, with improvement timelines critical as IPO proceeds are channelled into offline expansion, technology upgrades and marketing.
He added that investors with higher risk appetite and a long-term perspective may consider limited exposure, while conservative investors may prefer to wait for consistent profitability.
Shravan Shetty, Managing Director at Primus Partners, said that while PhysicsWallah has meaningful scale potential, it faces tough competition from rivals such as Unacademy and Byju’s. He noted that valuations remain stretched and sustained growth will depend on the company’s execution strength and its ability to retain quality teaching talent.
Founded by Alakh Pandey and Prateek Boob, the Noida-based edtech firm offers online and offline courses for school students and competitive exam aspirants. Starting as a YouTube channel, the platform has since expanded into multiple digital offerings and an expanding offline network across key cities.
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
November 18, 2025, 07:55 IST
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