PhysicsWallah IPO: A Glimpse into EdTech's Market Debut

PhysicsWallah's IPO sees tepid investor interest with only 13% subscription. The company aims to raise Rs 3,480 crore through both new share issuance and an Offer for Sale. Despite challenges, the IPO marks a significant step for India's edtech sector as it prepares to list publicly.

India's edtech unicorn, PhysicsWallah, is experiencing a lukewarm reception from investors for its initial public offering, attracting just 13% subscription a day before its closure. The IPO, which ends on November 13, offers a blend of fresh shares and an Offer for Sale by current promoters.

Retail investors showed moderate interest with 58% subscription, while non-institutional investors subscribed to 6%. Qualified institutional buyers showed minimal participation. Nevertheless, PhysicsWallah raised Rs 1,563 crore from anchor investors, bolstering its public listing efforts.

This landmark IPO sets the stage for PhysicsWallah to become a major publicly-traded entity, reflecting the growing impact of edtech in India. The company plans to use the raised funds to expand its offerings, targeting competitive exams, upskilling programs, and more, aiming for continuous growth despite narrowing losses.

(With inputs from agencies.)