PhysicsWallah IPO Day 3: Check GMP, subscription status, review, key dates. Apply or not?

The public offering for Edtech unicorn PhysicsWallah opened for subscription on Tuesday, November 11, and will close on Thursday, November 13. PhysicsWallah IPO GMP today is ₹1.25.

The response to the PhysicsWallah IPO has been lackluster so far, as of the second day of bidding. However, the third day of bidding could potentially see full subscription of the issue. The retail segment has received over 50% of bookings, while the employee segment has been completely filled.

For the public issue, PhysicsWallah IPO has allocated a minimum of 75% of shares for qualified institutional buyers (QIB), up to 15% for non-institutional investors (NII), and no more than 10% reserved for retail investors. Additionally, shares worth up to ₹70 million have been set aside for employees.

PhysicsWallah IPO price band has been established between ₹103 and ₹109.

The basis for share allotment for PhysicsWallah IPO is expected to be determined on Friday, November 14, with refunds to begin on Monday, November 17. Shares will then be credited to the demat accounts of allottees on the same day after refunds. The listing of PhysicsWallah shares on BSE and NSE is anticipated on Tuesday, November 18.

PhysicsWallah IPO GMP today

PhysicsWallah IPO GMP today is ₹1.25. Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of PhysicsWallah share price was indicated at ₹110.25 apiece, which is 1.15% higher than the IPO price of ₹109.

Analyzing the grey market trends from the last 9 sessions, today's IPO GMP shows a decline and is anticipated to decrease further. Experts indicate that the lowest GMP is ₹1.25, whereas the highest reaches ₹9.00.

'Grey market premium' indicates investors' readiness to pay more than the issue price.

PhysicsWallah IPO subscription status

PhysicsWallah IPO subscription status was 1.81x on day 3. The retail portion was subscribed 1.06x, and NII portion has been booked 48%, Qualified Institutional Buyers (QIBs) portion has received 2.70x bids. The employee portion has been subscribed 3.49x.

The company has received bids for 33,62,27,044 shares against 18,62,04,143 shares on offer, at 19:00 IST, according to data on BSE.

PhysicsWallah IPO subscription status was 12% on day 2, and on the first bidding day, PhysicsWallah IPO subscription status was 7%.

PhysicsWallah IPO details

PhysicsWallah IPO consists of a new equity share issue valued at ₹3,100 crore, along with an Offer for Sale (OFS) of up to ₹380 crore from the promoters.

Both Alakh Pandey and Prateek Boob, the promoters, will each sell shares worth ₹190 crore through the OFS. Currently, both hold a 40.31 percent stake in the company.

The Noida-based PhysicsWallah submitted its draft documents to Sebi in March for an IPO using the confidential pre-filing process and received approval from the regulator in July. Afterward, the company submitted an updated Draft Red Herring Prospectus (DRHP) in September before filing the Red Herring Prospectus (RHP).

The company chose the confidential pre-filing method, which allowed it to delay public disclosure of IPO information until later stages.

The raised funds will be directed towards supporting the company's expansion and growth strategies.

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