PhysicsWallah's IPO: A Game-Changer in EdTech

PhysicsWallah's initial public offering received nearly twice the subscription by the final bidding day. With bids for over 33 million shares against an offer of 18 million, the IPO was buoyed by institutional investors. Proceeds will support the edtech firm's expansion as it aims to be the first major edtech company listed in India.

The initial public offering of the edtech unicorn PhysicsWallah received significant attention, drawing nearly twice the subscription on the final day of bidding.

The share sale, valued at Rs 3,480 crore, received bids for over 33 million shares, compared to the 18 million on offer. Notably, qualified institutional buyers showed strong interest with a 2.7 times subscription rate, while the retail segment also participated actively.

While initial investor response was lukewarm, PhysicsWallah successfully raised Rs 1,563 crore from anchor investors earlier in the week. As the first edtech company of this scale to list on Indian bourses, PhysicsWallah aims to use the IPO proceeds to fund its expansive growth and development initiatives.

(With inputs from agencies.)