PhysicsWallah IPO subscribed nearly 2 times on final day

New Delhi: The initial public offering of edtech unicorn PhysicsWallah received nearly 2 times subscription on the final day of bidding on Thursday.

The Rs 3,480-crore initial share sale received bids for 33,62,27,044 shares against 18,62,04,143 shares on offer, translating to 1.81 times subscription, according to the data available with the NSE.

The portion for Qualified Institutional Buyers fetched 2.70 times subscription, while the Retail Individual Investors segment subscribed 1.06 times. The quota for Non-Institutional Investors has been subscribed only 48 per cent.

On Wednesday, the initial public offering (IPO) of PhysicsWallah received a lukewarm response from investors, garnering only 13 per cent subscription.

On Monday, PhysicsWallah said it has raised Rs 1,563 crore from anchor investors. This will be the first major pure-play edtech company to list on the country’s bourses.

The company fixed a price band of Rs 103-109 per share for its IPO, which may peg its valuation at over Rs 31,500 crore at the upper end.

The IPO comprises a fresh issue of equity shares worth Rs 3,100 crore and an Offer for Sale (OFS) of up to Rs 380 crore by the

promoters.