PhysicsWallah IPO
Listed
Physics Wallah (PW) is one of India’s leading education companies, offering affordable and high-quality courses for competitive exams (JEE, NEET, UPSC, GATE) and skill development. The company operates a hybrid learning model combining online platforms (website, app, and YouTube channels with nearly 99 million subscribers) with tech-enabled offline/hybrid centers (303 centers as of June 30, 2025). PW is among the top five education companies in India by revenue and is the largest in terms of student community. The company has successfully diversified its offerings and uses a proprietary technology stack to enhance student learning experiences.
Issue Price
109
Current GMP
₹14 (12.84%)
Overall Subscription
1.92x
Issue Size
₹3480.00 Cr
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Live Subscription by Application
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 9,55,38,505 | 53 | 0.00x |
FII | - | 19 | - |
DFI | - | 11 | - |
MF | - | 20 | - |
Other | - | 3 | - |
| NII | 24,913 | 3,750 | 0.15x |
bNII | 16,609 | 1,227 | 0.07x |
Corporate | - | 70 | - |
Individual | - | 1,026 | - |
Other | - | 131 | - |
sNII | 8,304 | 2,523 | 0.30x |
Corporate | - | 15 | - |
Individual | - | 2,434 | - |
Other | - | 74 | - |
| Retail | 2,32,525 | 1,96,331 | 0.84x |
Cut-off price | - | 1,69,306 | - |
Fixed price | - | 27,025 | - |
| Employee | 5,161 | 8,573 | 1.66x |
Cut-off price | - | 6,942 | - |
Fixed price | - | 1,631 | - |
| Total | 9,58,01,104 | 2,08,707 | 0.00x |
Live Subscription by Shares
| Category | Shares Offered | Shares Applied | Subscription |
|---|---|---|---|
| QIB | 9.55 Cr | 27.36 Cr | 2.86x |
FII | - | 8.63 Cr | - |
DFI | - | 1.42 Cr | - |
MF | - | 16.03 Cr | - |
Other | - | 1.27 Cr | - |
| NII | 4.78 Cr | 2.44 Cr | 0.51x |
bNII | 3.19 Cr | 1.86 Cr | 0.58x |
Corporate | - | 21.53 L | - |
Individual | - | 1.52 Cr | - |
Other | - | 12.16 L | - |
sNII | 1.59 Cr | 58.57 L | 0.37x |
Corporate | - | 28.50K | - |
Individual | - | 56.81 L | - |
Other | - | 1.47 L | - |
| Retail | 3.19 Cr | 3.56 Cr | 1.12x |
Cut-off price | - | 3.06 Cr | - |
Fixed price | - | 50.42 L | - |
| Employee | 7.07 L | 26.27 L | 3.71x |
Cut-off price | - | 21.10 L | - |
Fixed price | - | 5.17 L | - |
| Total | 17.59 Cr | 33.62 Cr | 1.91x |
Subscription Summary
QIB
Shares Applied:2.86x
Applications Offered:0.00x
NII
Shares Applied:0.51x
Applications Offered:0.15x
Retail
Shares Applied:1.12x
Applications Offered:0.84x
Employee
Shares Applied:3.71x
Applications Offered:1.66x
Quick Stats
Total Categories4
IPO TypeMainboard
StatusListed
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Join NowData Last Updated
14 Nov 2025, 01:30 pm
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Understanding Subscription Categories
QIB
Qualified Institutional Buyers
Includes FII, DFI, Mutual Funds, and other qualified institutions.
NII
Non-Institutional Investors
High net-worth individuals: bNII (₹10L+) and sNII (₹2L-₹10L).
Retail
Retail Individual Investors
Retail investors with applications up to ₹2 lakh per PAN.
Frequently Asked Questions
What is the current subscription status of PhysicsWallah IPO?
The current overall subscription for PhysicsWallah IPO is 1.92x. This indicates the total demand relative to the shares offered. Higher subscription typically suggests strong investor interest.
How to check PhysicsWallah IPO subscription status?
You can check PhysicsWallah IPO subscription status on IPOwiz, BSE website, NSE website, or your broker's platform. Subscription data is updated regularly during the IPO period from 11 November 2025 to 13 November 2025.
What do subscription numbers mean?
Subscription numbers show how many times the IPO is oversubscribed. For example, 1.92x means the IPO received 1.92x times more applications than shares available. Higher subscription in retail category generally means lower allotment chances.
When does PhysicsWallah IPO subscription close?
The subscription for PhysicsWallah IPO closes on 13 November 2025. Applications must be submitted before the closing time on this date. Late applications will not be accepted.
What is the difference between QIB, NII, and Retail subscription?
QIB (Qualified Institutional Buyers) includes mutual funds, FIIs, and other institutions. NII (Non-Institutional Investors) includes high net-worth individuals investing above ₹2 lakh. Retail includes individual investors with applications up to ₹2 lakh. Each category has separate subscription quotas.
How does subscription affect allotment chances?
Higher subscription in your category means lower allotment chances. For example, if retail subscription is 1.92x, it means there are 1.92x times more applications than shares available, making allotment competitive.
When will PhysicsWallah IPO allotment be finalized?
The allotment for PhysicsWallah IPO will be finalized and announced on 14 November 2025. You can check your allotment status on the registrar's website, BSE, NSE, or your demat account after this date.
What happens after subscription closes?
After subscription closes on 13 November 2025, the company and registrar process all applications. Allotment is finalized by 14 November 2025, and shares are credited to successful applicants' demat accounts before the listing date on 18 November 2025.
Can I apply after subscription closes?
No, you cannot apply after the subscription closes on 13 November 2025. All IPO applications must be submitted during the subscription period from 11 November 2025 to 13 November 2025. Late applications are automatically rejected.
What is the issue size and lot size for PhysicsWallah IPO?
The issue size for PhysicsWallah IPO is ₹3480.00 Cr, and the lot size is 137 shares. The price range is ₹103.0 - ₹109.0. You must apply in multiples of the lot size.