PhysicsWallah IPO: The Edtech Unicorn Making Waves on the Stock Market

PhysicsWallah, a prominent edtech unicorn, is making waves with its initial public offering (IPO). The IPO aims to raise funds for expansion and growth, with a subscription rate of 10% by the second day. The market debut is set for November 18, with the company planning significant valuation gains.

The highly anticipated initial public offering (IPO) of edtech unicorn PhysicsWallah has garnered a 10% subscription by its second day of bidding. The bidding window is set to close on November 13, amid heightened interest in the educational technology sector.

As of 11:30 AM on Wednesday, the IPO had received bids for 1,83,06,625 shares out of the 18,62,04,143 shares available, according to data from the National Stock Exchange (NSE). Retail individual investors showed a 46% subscription, but non-institutional investor participation remained minimal, and the qualified institutional buyers segment reported no bids on its second day.

The IPO seeks to raise Rs 3,480 crore, with a portion earmarked for funding the company's ambitious expansion and growth initiatives. PhysicsWallah will be the first pure-play edtech company to list on Indian stock exchanges, anticipated to significantly boost its valuation. The company's stock market debut is slated for November 18.

(With inputs from agencies.)