Physics Wallah IPO Day 2: Edtech Company Public Offering Subscribed by 11% on Second Day; Check GMP

The initial public offering (IPO) of edtech company Physics Wallah was subscribed to 0.11 times of 11% on the second day of bidding. The 3,480 crore IPO opens for subscription on November 11, 2025 and will close on November 13, 2025. The issue, which has a price range of Rs 103-Rs 109 per share with a lot size of 137 shares, will get with the minimum investment of Rs 14,11.

The shares Physics Wallah will be allotted on November 14, 2025 to investors and will receive refund fully unsuccessfully bidders. The tentative listing date on the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) is on November 18, 2025. Physics Wallah IPO got bids for 1,95,63,600 shares, compared to 18,62,04,143 shares on offer for sale, according to data available on BSE. 

Also Read | IPO aims for larger reach, stronger branding: Physics Wallah co-founder Prateek Maheshwari.

Both promoters, Alakh Pandey and Prateek Boob, will each sell shares aggregating to Rs 190 crore via the OFS route. The fresh proceeds will be utilised for the company's expansion and growth initiatives.

Physics Wallah IPO GMP

The shares of Physics Wallah were trading at Rs 112 on the grey market premium, which is the unlisted market at 2.33 pm on Wednesday, as per Investorgain.com. The estimated listing price is Rs 111, which is 1.83% higher than the bidding price of Rs 109.

Also Read | Groww Share Price: Billionbrains Garage Ventures Stock Listed at 12% Premium.

About Physics Wallah 

Physics Wallah is an Indian online education platform founded by Alakh Pandey. It started as a YouTube channel where he taught physics to students preparing for engineering and medical entrance exams like JEE, GATE, UPSC and NEET. Over time, it grew into a full edtech company, offering affordable online courses, video lectures, study materials, and test series through its app and website. Physics Wallah also has offline coaching centres across India and provides courses in various subjects beyond physics.

The edtech is backed by WestBridge Capital, GSV Ventures and Hornbill. During the financial year ended March 2025, the company faced losses to Rs 243 crore from Rs 1,131 crore in the previous year, which shows a year-on-year loss. However, revenue advanced to Rs 2,887 crore, up from Rs 1,941 crore in the same period.