The PhysicsWallah IPO commenced on 11 November and is set to conclude on 13 November. Currently, the grey market premium (GMP) stands at ₹1.25. The response to the IPO has been slow, with weak subscription numbers by the second day, though an increase in bids is anticipated on day three. The retail segment is over 50% subscribed, while the employee portion has been fully subscribed. Share allocation is divided as follows: 75% for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for retail investors, with shares valued at ₹70 million allocated for employees. The price band for the IPO is set between ₹103 and ₹109.
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Key dates include allotment on 14 November, refunds on 17 November, shares available in demat form on 17 November, and listing on NSE and BSE on 18 November. The current GMP of ₹1.25 suggests an estimated listing price of ₹110.25 at the top price of ₹109, reflecting a 1.15% increase. The GMP trend has shown a decline over the past nine sessions, with a low of ₹1.25 and a high of ₹9. Subscription details for the days are as follows: Day 3 saw 16% subscribed with retail at 73%, NIIs at 8%, QIBs at 0%, and employees at 2.19x; Day 2 had 12% subscribed; and Day 1 recorded 7% subscribed.
The overall IPO size comprises a fresh issue of ₹3,100 crore and an offer for sale (OFS) of ₹380 crore.