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Physics Wallah IPO Debuts on Indian Exchanges, Sees Mixed Investor Response
18 Nov
Summary
- Physics Wallah IPO subscribed 1.81 times by November 13
- QIB category oversubscribed 2.7 times, led by mutual funds and FIIs
- Retail category marginally oversubscribed at 1.06 times
On November 18, 2025, the shares of edtech unicorn Physics Wallah will make their debut on the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE). The company's initial public offering (IPO) was subscribed 1.81 times by November 13, at 7 pm.
The Qualified Institutional Buyers (QIB) category was in high demand, subscribing 2.7 times with most interest coming from mutual funds and foreign institutional investors. In contrast, the Non-Institutional Investor (NII) category saw muted interest, subscribing only 0.48 times. However, the retail category witnessed steady interest and was marginally oversubscribed at 1.06 times. The employees' quota received the best response with a subscription rate of 3.49 times.
Overall, the IPO witnessed moderate demand across categories with strong institutional and employee participation offsetting a weak high-net-worth individual (HNI) response.
