PhysicsWallah IPO obtained absolutely subscribed on closing day of bidding

The preliminary public providing of edtech unicorn PhysicsWallah obtained absolutely subscribed on the final day of the preliminary share sale on Thursday (November 13, 2025).

The ₹3,480-crore preliminary share sale acquired bids for 20,84,88,107 shares, as in opposition to 18,62,04,143 shares on supply, translating to 1.12 instances subscription, as per info accessible on the NSE until 13:50 hours.

Qualified institutional consumers, who confirmed restricted curiosity within the first two days, have thus far subscribed 1.63 instances their allotted quota, whereas the portion for retail particular person buyers has acquired 86% subscription.

The quota for non-institutional buyers acquired 25% subscription.

On Wednesday, the preliminary public providing (IPO) of PhysicsWallah acquired a lukewarm response from buyers, garnering solely 13% subscription.

On Monday, PhysicsWallah stated it has raised ₹1,563 crore from anchor buyers.

This would be the first main pure-play edtech firm to checklist on the nation’s bourses.

The firm mounted a value band of ₹103-109 per share for its IPO, which can peg its valuation at over ₹31,500 crore on the higher finish.

The IPO contains a recent situation of fairness shares value Rs 3,100 crore and an Offer for Sale (OFS) of as much as ₹380 crore by the promoters.

Both promoters, Alakh Pandey and Prateek Boob, will every offload shares value ₹190 crore by means of the OFS. At current, each maintain 40.31% stake every within the firm.

The Noida-based PhysicsWallah filed draft papers with Sebi in March for an IPO through the confidential pre-filing route and acquired the regulator’s approval in July. Following this, the corporate filed an up to date DRHP in September earlier than submitting an RHP.

Funds will likely be used to gasoline the corporate’s growth and progress initiatives.

PhysicsWallah affords take a look at preparation programs for aggressive exams specializing in JEE, NEET, GATE and UPSC, together with upskilling programmes, delivered by means of on-line platforms (YouTube, web site, and apps), tech-enabled offline centres, and hybrid centres that mix on-line educating with in-person assist.

The firm, which is backed by WestBridge Capital, Hornbill, and GSV Ventures, narrowed its losses to ₹243 crore within the yr ended March 2025, from ₹1,131 crore within the previous yr.

However, income rose to ₹2,887 crore, up from ₹1,941 crore in the identical interval.

PhysicsWallah will make its inventory market debut on November 18.