PhysicsWallah IPO GMP Today: Last Call For Investors! Issue Subscribed Over 0.17x; Should You Bid On Day 3?

PhysicsWallah IPO GMP Today: The initial public offering (IPO) of ed-tech firm PhysicsWallah will close for subscription on Thursday, November 13. So far, the issue has seen a tepid response from investors. With the bidding window set to end soon, here's a detailed look at the IPO's key highlights, grey market premium (GMP), and other important details for investors.

PhysicsWallah IPO has been subscribed around 0.17 times till Thursday, 10:44 am, according to Chittorgarh.com. The company plans to raise around Rs 3,480 crore through a combination of fresh issue and offer for sale.

PhysicsWallah IPO GMP Today

The company's IPO GMP indicates a muted listing in the Indian stock market. The company's IPO GMP today stood at Re 1, as per investorgain.com at 9:59 am. With this, the issue is expected to be listed at a price of Rs 110 per share (which is the sum of IPO GMP Today and upper price band).

PhysicsWallah IPO Subscription Status

The issue has been subscribed to around 0.17 times so far. The public issue has been subscribed to around 0.75 times in the retail category and 0.08 times in the NII category. However, there was no subscription in the QIB category (ex-anchor).

PhysicsWallah IPO Price Band, Issue Size, Other Info

PhysicsWallah IPO is a book build issue of Rs 3,480 crores. It is a combination of fresh issue of 28.44 crore shares aggregating to Rs 3,100 crore. The IPO includes an offer for sale of 3.49 crore shares aggregating to Rs 380 crores. The company has fixed a price band at Rs 103 to Rs 109 per share.

The lot size for an application is 137, which means that the minimum amount of investment required by retail is Rs 14,933 crore. Whereas, the lot size investment for sNII is 14 lots, equivalent to Rs 2,09,062 and a bNII of 67 lots, amounting to Rs 10,00,511.

PhysicsWallah IPO: Should You Subscribe?

The IPO presents a decent opportunity for investors who wish to make a gain in the long-term; however, sustainable profitability will be key before taking long-term exposure, according to experts..

"PhysicsWallah has built an extraordinary brand in affordable education, combining online scale with offline credibility. However, from an investor standpoint, the IPO appears fairly valued to slightly expensive given its limited profit track record. For first-time investors, it would be prudent to wait and watch, the story remains attractive, but sustainable profitability will be key before taking long-term exposure," noted Gaurav Garg, Lemonn Markets Desk.

"The company reported FY25 revenue of around ₹2,887 crore with losses narrowing to ₹243 crore as gross margins improved to 31%. At a valuation of nearly ₹31,500 crore, the issue prices PW at about 11x FY25 sales-well above conventional education peers. Its hybrid model of 100+ offline centres, a 50-lakh-strong paid learner base, and a growing test-prep portfolio offers scale, but sustaining profitability amid rising teacher costs and intense competition will be challenging," stated Harshal Dasani, Business Head, INVasset PMS.

"The valuation leaves little buffer for execution risks, and early subscription trends show investor caution. PW remains a strong consumer brand with proven reach, yet the IPO looks best suited for long-term investors willing to wait for consistent profitability rather than those seeking immediate listing upside," Dasani added.