PhysicsWallah IPO Subscription
ListedUpdated 18 November 2025, 9:15 AM IST· Mainboard
PhysicsWallah IPO subscription closed on 13 November 2025 at 1.92x overall by shares. QIB demand came in at 2.86x, NII at 0.51x, and retail at 1.12x. See Retail, SHNI, and BHNI allotment chances in the table below.
Allotment date is 14 November 2025. Listing date on NSE and BSE is 18 November 2025.
PhysicsWallah IPO Day-wise Subscription
Daily QIB, NII, Retail, and overall subscription as bids come in
| 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 Allotment Chances
Retail, SHNI, and BHNI chances based on application subscription
PhysicsWallah IPO allotment chances for Retail, SHNI, and BHNI. All three use lottery when the category is oversubscribed.
| Category | Subscription (Apps) | Allotment Chances |
|---|---|---|
| Retail | 0.84x | Very high |
| SHNI (Rs 2L to Rs 10L) | 0.30x | Very high |
| BHNI (above Rs 10L) | 0.07x | Very high |
Chances use application subscription (how many bids came in), not share or amount figures. If you get allotment, you get at least one lot. Higher subscription means lower chance per PAN.
Check the PhysicsWallah IPO Allotment Status page from 14 November 2025 for your result.
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?
1.92x overall by shares means bids covered about 2 times the shares on offer. Allotment chances depend on applications in each category.
QIB at 2.86x by shares shows institutional demand from mutual funds, FIIs, and banks.
NII covers bids above Rs 2 lakh (0.15x by applications). Split: SHNI 0.30x, BHNI 0.07x by applications. SHNI and BHNI allotment is by lottery.
null Retail allotment is also by lottery.
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 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 (SHNI & BHNI)
Investors bidding above Rs 2 lakh. Split into SHNI (Rs 2 lakh to Rs 10 lakh) and BHNI (above Rs 10 lakh). Both use lottery allotment when oversubscribed.
Retail - Retail Individual Investors
Investors bidding up to Rs 2 lakh per PAN. Allotment is by lottery when oversubscribed. Winners get at least one lot.
PhysicsWallah IPO IPO Pages
Open related pages for this IPO: details, GMP, subscription, allotment, review, FAQ, registrar, timeline, and news.
PhysicsWallah IPO Details
Issue size, price, financials, and company info
PhysicsWallah IPO GMP
Live grey market premium and listing estimate
PhysicsWallah IPO Subscription
QIB, NII, Retail, SHNI and BHNI subscription
PhysicsWallah IPO Allotment
Allotment date, chances, and check by PAN
PhysicsWallah IPO Review
SWOT, strengths, risks, and IPO review
PhysicsWallah IPO FAQ
Common questions on dates, GMP, and allotment
PhysicsWallah IPO Registrar
Registrar website and how to check allotment
PhysicsWallah IPO Timeline
Open, close, allotment, and listing dates
PhysicsWallah IPO News
Updates, blogs, and latest IPO news
PhysicsWallah IPO Subscription FAQs
What is PhysicsWallah IPO subscription status today?
PhysicsWallah IPO subscription closed on 13 November 2025 with overall subscription of 1.92x (by shares) as of 27 August 2026, 4:32 AM IST. QIB 2.86x, NII 0.15x, Retail 0.84x.
What is the overall subscription of PhysicsWallah IPO?
PhysicsWallah 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 QIB subscription?
PhysicsWallah IPO QIB (Qualified Institutional Buyers) subscription is 2.86x by shares. QIB includes mutual funds, FIIs, banks, and other institutions.
What is PhysicsWallah IPO Retail subscription?
PhysicsWallah IPO Retail subscription is 0.84x by applications. Retail bids are up to Rs 2 lakh per PAN.
What is PhysicsWallah IPO NII, SHNI, and BHNI subscription?
PhysicsWallah IPO NII subscription is 0.15x by applications. NII is bids above Rs 2 lakh, split into SHNI (Rs 2L to Rs 10L) at 0.30x and BHNI (above Rs 10L) at 0.07x.
What are PhysicsWallah IPO retail allotment chances?
PhysicsWallah IPO retail share subscription is 1.12x. Application data is needed for exact lottery chances.
What are PhysicsWallah IPO SHNI allotment chances?
PhysicsWallah IPO SHNI allotment chances depend on final application subscription. Allotment is by lottery when oversubscribed.
What are PhysicsWallah IPO BHNI allotment chances?
PhysicsWallah IPO BHNI allotment chances depend on final application subscription. Allotment is by lottery when oversubscribed.
When is PhysicsWallah IPO allotment date?
PhysicsWallah IPO allotment date is 14 November 2025. Check PhysicsWallah IPO Allotment Status on IPOwiz from that day using your PAN.
When does PhysicsWallah IPO subscription close?
PhysicsWallah IPO subscription closed on 13 November 2025. No new applications are accepted after the close.
What is PhysicsWallah IPO GMP today?
PhysicsWallah 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 issue price and lot size?
PhysicsWallah 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 listing date?
PhysicsWallah IPO listing date is 18 November 2025 on NSE and BSE. Allotment is on 14 November 2025.
How does subscription affect PhysicsWallah IPO allotment?
In PhysicsWallah IPO, Retail, SHNI, and BHNI allotment is by lottery when oversubscribed. Chances follow application subscription in each category, not share volume. 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.
Sources
We match PhysicsWallah IPO IPO numbers with official sources. For final dates and allotment results, double-check the registrar or exchange.
- SEBIRules for IPO allotment and disclosures in India
- NSEExchange notices, bidding data, and listing updates
- BSEExchange notices and IPO allotment check tools
- RHP / Offer DocumentCheck the company RHP on NSE/BSE or the IPO detail page
- IPO RegistrarRegistrar details are on the allotment page for this IPO
Also read our Editorial Policy, How GMP is calculated, How allotment chances work, and IPO fund allocation.
Reviewed by
Dinesh Agrawal · Lead IPO Analyst
15+ years in Indian markets and IPO research. He reviews subscription data before it goes live.