The Indian EdTech unicorn Physics Wallah made a strong debut on the stock market, listing at a 33 percent premium to its initial public offering (IPO) price on Tuesday. The offering had received nearly twice the number of subscriptions during the bidding period, indicating robust investor demand.
On the National Stock Exchange (NSE), Physics Wallah’s shares opened at ₹145 each, reflecting a 33.03 percent premium over the upper end of the IPO price range of ₹103–₹109 per share. Concurrently, the stock listed on the BSE at ₹143.10 per share, marking a 31.28 percent premium. Following the successful debut, the company’s market capitalization reached a significant ₹40,922.20 crore.
The IPO was structured as a mix of a fresh issue and an Offer for Sale (OFS). The fresh issue comprised equity shares worth ₹3,100 crore, with the OFS valued up to ₹380 crore by the promoters. Promoters Alakh Pandey and Prateek Maheshwari sold stakes worth ₹190 crore each through the OFS.
Co-founder and CEO Alakh Pandey had previously confirmed that the substantial fresh issue of approximately ₹3,100 crore, representing about 90% of the offering, would be utilized entirely for the company’s growth activities. Pandey also noted that institutional investors were not selling their stakes in the IPO, underscoring confidence in the company’s long-term growth trajectory. The strong listing performance validates the market’s belief in the company’s hybrid learning model and its significant scale in the EdTech space.
