Alakh Pandey’s company’s shares surge 33% in debut, market cap reaches Rs…
PhysicsWallah’s initial public offering (IPO) received almost 2x the subscription on the last day of bidding on Thursday last week.
PhysicsWallah Stock Release: Shares of Alakh Pandey’s edtech unicorn PhysicsWallah Ltd were listed with a strong gain of 33 per cent on the issue price of Rs 109 on Tuesday. The stock started trading at Rs 143.10 and registered an increase of 31.28 per cent from its issue price on BSE, becoming the first major pure education technology company to enter the stock markets. On the NSE, the stock was listed at Rs 145, a premium of 33 per cent from the issue price.
PhysicWallah Market Cap
The market capitalization of the company PhysicsWallah Ltd stood at 44,751.33 billion rupees as of November 18. Shares of the company closed at Rs 156.49 on Tuesday, up 43.57 percent.
PhysicsWallah IPO subscription
PhysicsWallah’s initial public offering (IPO) received almost 2x the subscription on the last day of bidding on Thursday last week. The initial share sale of Rs 3,480 crore had a price range of Rs 103-109 per share. The IPO had a fresh issue of equity shares worth Rs 3,100 billion and an offer for sale (OFS) of up to Rs 380 billion by the promoters. The funds will be used to support the company’s expansion and growth initiatives.
PhysicsWallah list
Noida-based PhysicsWallah filed draft documents with Sebi in March for an IPO through confidential pre-filing and received the regulator’s approval in July. Following this, the company filed an updated DRHP application in September before filing for a RHP.
What is PhysicsWallah?
It is an education technology unicorn, with test preparation courses for competitive exams focusing on JEE, NEET, GATE and UPSC along with skill development programs offered through online platforms (YouTube, website and apps), technology-enabled offline centers and hybrid centers that combine online teaching with personal support.
