PhysicsWallah IPO Subscription Status
PhysicsWallah IPO closed on 13 November 2025 with an overall subscription of 1.92x based on shares applied. QIB demand came in at 2.86x, NII at 0.51x, and retail at 1.12x.
Allotment will be finalised on 14 November 2025. The stock is scheduled to list on NSE and BSE on 18 November 2025.
Issue Price
Rs 109.00
GMP Today
Rs 14.00 (+12.84%)
Overall Subscription
1.92x
Issue Size
₹3480.00 Cr
Allotment Date
14 Nov 2025
Listing Date
18 Nov 2025
PhysicsWallah IPO Subscription by Amount
Category-wise subscription based on amount applied at issue price Rs 109.00
| Category | Amount Offered | Amount Applied | Subscription |
|---|---|---|---|
| QIB | Rs 1,041.37 Cr | Rs 2,981.98 Cr | 2.86x |
| FII | - | Rs 941.19 Cr | - |
| DFI | - | Rs 155.00 Cr | - |
| Mutual Funds | - | Rs 1,747.28 Cr | - |
| Other | - | Rs 138.51 Cr | - |
| NII | Rs 520.84 Cr | Rs 266.22 Cr | 0.51x |
| bNII (above Rs 10L) | Rs 347.23 Cr | Rs 202.39 Cr | 0.58x |
| Corporate | - | Rs 23.46 Cr | - |
| Individual | - | Rs 165.67 Cr | - |
| Other | - | Rs 13.25 Cr | - |
| sNII (Rs 2L to Rs 10L) | Rs 173.61 Cr | Rs 63.84 Cr | 0.37x |
| Corporate | - | Rs 31.06 L | - |
| Individual | - | Rs 61.92 Cr | - |
| Other | - | Rs 1.61 Cr | - |
| Retail | Rs 347.23 Cr | Rs 388.04 Cr | 1.12x |
| Cut-off price | - | Rs 333.09 Cr | - |
| Fixed price | - | Rs 54.95 Cr | - |
| Employee | Rs 7.71 Cr | Rs 28.63 Cr | 3.71x |
| Cut-off price | - | Rs 22.99 Cr | - |
| Fixed price | - | Rs 5.64 Cr | - |
| Total | Rs 1,917.15 Cr | Rs 3,664.87 Cr | 1.91x |
PhysicsWallah IPO Subscription by Applications
Category-wise subscription based on applications received
| Category | Applications Offered | Applications Received | Subscription |
|---|---|---|---|
| QIB | 9,55,38,505 | 53 | 0.00x |
| FII | - | 19 | - |
| DFI | - | 11 | - |
| Mutual Funds | - | 20 | - |
| Other | - | 3 | - |
| NII | 24,913 | 3,750 | 0.15x |
| bNII (above Rs 10L) | 16,609 | 1,227 | 0.07x |
| Corporate | - | 70 | - |
| Individual | - | 1,026 | - |
| Other | - | 131 | - |
| sNII (Rs 2L to Rs 10L) | 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 |
What Do These Subscription Numbers Mean?
A subscription of 1.92x by shares means the IPO received bids for 2 times the shares reserved. Allotment odds depend on application count in each category, not share volume.
Here is what each category number tells you:
QIB at 2.86x by shares: This is the strongest signal on the page. QIBs are institutional investors, mutual funds, foreign institutions, and banks. When they subscribe at 2.86x, it reflects serious institutional conviction.
NII at 0.15x by applications: NII includes high net worth individuals applying above Rs 2 lakh. Proportional allotment uses application subscription. bNII came in at 0.07x and sNII at 0.30x by applications.
null Retail allotment is done by lottery when oversubscribed.
At 1.66x subscription by applications, approximately 1 in 2 employee applicants can expect an allotment (~60% per application). Employee reservation uses the same lottery logic as retail when oversubscribed.
PhysicsWallah IPO Allotment Chances
Allotment odds below use application subscription (number of bids received), not share or amount subscribed.
Retail
- •Application subscription: 0.84x.
- •One application per PAN. Multiple eligible accounts in a household can improve overall family odds, not individual odds.
SHNI (Rs 2 lakh to Rs 10 lakh)
- •Application subscription: 0.30x.
BHNI (above Rs 10 lakh)
- •Application subscription: 0.07x.
- •Share subscription was 0.58x. Allotment uses application count, not share volume.
Check the PhysicsWallah IPO Allotment Status page from 14 November 2025 for your allotment result.
PhysicsWallah IPO GMP After Subscription
GMP for PhysicsWallah IPO stands at Rs 14.00 today, giving an estimated listing price of Rs 123.00 per share.
The GMP has been mixed from Rs 9.00 on 5 Nov 2025 to Rs 5.00 on 14 Nov 2025.
A subscription of 1.92x combined with a GMP of 12.84% is a strong combination heading into listing. QIB demand above 50x in particular tends to support listing sentiment, as institutional investors are seen as informed buyers.
Track live GMP on the PhysicsWallah IPO GMP Today page or the IPOwiz Live IPO GMP Tracker.
PhysicsWallah IPO Day-wise Subscription
| Day | QIB | NII | Retail | Overall |
|---|---|---|---|---|
| Day 1 - 11 Nov 2025 | 0.00x | 0.03x | 0.36x | 0.08x |
| Day 2 - 12 Nov 2025 | 0.00x | 0.06x | 0.63x | 0.14x |
| Day 3 - 13 Nov 2025 | 2.86x | 0.51x | 1.14x | 1.92x |
PhysicsWallah IPO Key Dates
| Event | Date |
|---|---|
| IPO Open Date | 11 November 2025 |
| IPO Close Date | 13 November 2025 |
| Allotment Date | 14 November 2025 |
| Refund Initiation | 15 November 2025 |
| Share Credit to Demat | 15 November 2025 |
| Listing Date | 18 November 2025 |
| Minimum Investment | Rs 14,933.00 |
| Lot Size | 137 shares |
About PhysicsWallah IPO
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.
Understanding Subscription Categories
QIB - Qualified Institutional Buyers
Includes foreign institutional investors, domestic financial institutions, mutual funds, and other qualified institutions. QIB demand is considered the most reliable indicator of institutional confidence in an IPO.
NII - Non-Institutional Investors
High net worth individuals applying above Rs 2 lakh. Divided into bNII (above Rs 10 lakh) and sNII (Rs 2 lakh to Rs 10 lakh). NII allotment is proportional.
Retail - Retail Individual Investors
Investors applying up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Minimum one lot per successful applicant.
PhysicsWallah IPO Subscription FAQs
What is PhysicsWallah IPO IPO subscription status today?
PhysicsWallah IPO IPO subscription closed on 13 November 2025 with overall subscription of 1.92x (by shares) as of 27 June 2026, 2:01 AM IST. QIB 2.86x, NII 0.15x, Retail 0.84x.
What is the overall subscription of PhysicsWallah IPO IPO?
PhysicsWallah IPO IPO is subscribed 1.92x overall by shares at close on 13 November 2025. QIB 2.86x, NII 0.15x, and Retail 0.84x.
What is PhysicsWallah IPO IPO QIB subscription?
PhysicsWallah IPO IPO QIB (Qualified Institutional Buyers) subscription is 2.86x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is PhysicsWallah IPO IPO Retail subscription?
PhysicsWallah IPO IPO Retail subscription is 0.84x by applications. Minimum retail bid is up to Rs 2 lakh per PAN.
What is PhysicsWallah IPO IPO NII subscription?
PhysicsWallah IPO IPO NII (Non-Institutional Investors) subscription is 0.15x by applications. NII covers bids above Rs 2 lakh.
What are allotment chances in PhysicsWallah IPO IPO for retail?
PhysicsWallah IPO IPO retail share subscription is 1.12x. Application-wise data is needed for accurate lottery odds.
When is PhysicsWallah IPO IPO allotment date?
PhysicsWallah IPO IPO allotment date is 14 November 2025. Check PhysicsWallah IPO Allotment Status on IPOwiz from that day using your PAN.
When does PhysicsWallah IPO IPO subscription close?
PhysicsWallah IPO IPO subscription closed on 13 November 2025. No new applications are accepted after the close.
What is PhysicsWallah IPO IPO GMP today?
PhysicsWallah IPO IPO GMP is ₹14 today (+12.84% over issue price ₹109). See live GMP on the PhysicsWallah IPO GMP Today page.
What is PhysicsWallah IPO IPO issue price and lot size?
PhysicsWallah IPO IPO issue price is ₹109 per share. Lot size is 137 shares. Minimum investment is ₹14,933 per lot. Issue size: ₹3480.00 Cr.
When is PhysicsWallah IPO IPO listing date?
PhysicsWallah IPO IPO listing date is 18 November 2025 on NSE and BSE. Allotment is on 14 November 2025.
How does subscription affect PhysicsWallah IPO IPO allotment?
Allotment odds in PhysicsWallah IPO IPO depend on application subscription in each category, not share volume. Retail uses lottery when oversubscribed. NII uses proportional allotment by applications. At 1.92x overall, competition is moderate.
For allotment results from 14 November 2025, visit the PhysicsWallah IPO Allotment Status page. For listing day updates on 18 November 2025, download the IPOwiz App.
Reviewed by Dinesh Agrawal
15+ years in Indian capital markets and IPO research. Subscription data verified before publish.