PhysicsWallah makes solid debut, shares rise over 42%

New Delhi: Shares of edtech unicorn PhysicsWallah Ltd made a solid market debut on Tuesday, and ended with a premium of over 42 per cent against the issue price of Rs 109.

The stock started trading at Rs 143.10, registering a jump of 31.28 per cent from the issue price on the BSE, becoming the first major pure-play edtech company to debut on the exchanges. During the day, it surged 48.66 per cent to Rs 162.05. The stock finally ended at Rs 155.20, up 42.38 per cent.

At the NSE, the stock got listed at Rs 145, a premium of 33 per cent from the issue price. In intra-day trade, it jumped 48.61 per cent to Rs 161.99. Shares of the firm ended at Rs 155.24, rallying 42.42 per cent.

The company’s market valuation stood at Rs 44,382.43 crore. In traded volume terms, 297.09 lakh shares of the firm were traded at the BSE and 2,733.90 lakh shares on the NSE.

The initial public offering (IPO) of PhysicsWallah received nearly 2 times subscription on the final day of bidding on Thursday last week.

The Rs 3,480-crore initial share sale had a price band of Rs 103-109 per share.

The IPO had 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.

Noida-based PhysicsWallah filed draft papers with Sebi in March for an IPO via the confidential pre-filing route and received the regulator’s approval in July. Following this, the company filed an updated DRHP in September before filing an RHP.

Funds will be used to fuel the company’s expansion and growth initiatives.