A complete guide on the PhysicsWallah IPO such as the dates of subscriptions, price band, size of issue, anticipated grey market premium (GMP), analysis of its business and what investors need to know is given below.

Key Dates & Price Band

• The date of opening the PhysicsWallah IPOs subscription is 11 November 2025 and the subscription will end on 13 November 2025.
• Price range will be ₹103-₹109 per share of equity.
• The size of the issue is approximately ₹3,480 crore ( ₹34.8 billion) as per the latest media reports.

What is the Grey Market Premium (GMP)?

The GMP is a non-formal measure of the significance of an IPO to the marketplace- by what percentage above or below the formal price the purchasers at the grey market will pay before listing. In the case of the PhysicsWallah IPO, there was a reported good GMP of approximately 5% prior to the issue.

Though this gives some indication of confidence by the investor, GMCs are volatile and cannot be used as the only determinant of decision.

Business Review – Why This IPO Matters

PhysicsWallah started as a physics instructional channel on YouTube and expanded to be a comprehensive ed-tech company that provides courses in competitive exams, and hybrid online/offline courses.
Key points to consider:

• It is also among the initial large entirely ed-tech enterprises in India that have been advancing to the public markets, hence the listing is vital to the industry.
• It has experienced good growth in revenues: between ₹1,940 crore in FY24 and more in FY25 (though yet not profitable).
• The “Why we like it" section: It enjoys brand recognition, a massive user base and a potential to grow in the education market in India.
• The rationale to be wary section: Profits continue to be negative and ed-tech has been a competitive and a regulatory sensitive environment.
  
  

Issue Size & Use of Proceeds

The IPO will be a fresh issue and the offer of sale (OFS) component by the current shareholders. There was some existing paperwork indicating a size of up to ₹3,820 crore.

The money will be allocated in expansion of centres, enhancement of content and technology, working capital and it may also be used in acquisition.

Expected Listing & Post-Issue Facts

• The company will be listed on 18 November 2025 (tentative) according to the recent media.
• After the listing, the investors ought to verify the locking period of the promoters, the growth of the future earnings, and the risk of competition in the ed-tech industry.
• Following the free “buzz” surrounding GMP and listing, the long-term worth will be pegged on the ability of the company to follow up on its growth plans.

What to Know Before Applying

• Minimum investment: With the price range, lot size would be a factor (subscribe wisely depending on lot size and your budget).
• Check your risk: The risk of this IPO is more than a mature business because the company is not profitable yet.
• Evaluate valuations: The implied price value at the upper price band is very high (₹31,500 crore approx).
• Understand sector risks: Ed-tech organisations should deal with regulatory shifts, customer behaviour, competitive pricing.
• Monitor GMP and subscription levels: Subscription is strong and GMP high might mean listing gains, but is not a guarantee.

Conclusion

PhysicsWallah IPO is a ranking issue in the Indian ed-tech sector having price band of ₹103-₹109, subscription of 11-13 Nov 2025, and issue value of about ₹3,480 crore. It has a small GMP (₹5 percent), and the interest of investors is existent. Though the company has prospects of growth and good brand presence it also carries with it risks (loss-making, competition in the field, high valuation). This IPO may be of interest to those investors who are not afraid to take some risk and believe in the growth of ed-tech in India, though careful analysis must be of primary importance.

Stay with us for more.

Frequently Asked Questions (FAQs)

Q-1. What is the subscription date for the PhysicsWallah IPO?
Ans- The IPO is made available to subscribe to between 11 and 13 November 2025. 

Q-2. What is the price band and issue size of the IPO?
Ans- The price range is ₹103-₹109 per share and the overall size of the issue is about ₹3,480 crore. 

Q-3. What is the current GMP for PhysicsWallah IPO?
Ans- Grey market premium (GMP) is recorded as 5% higher than the highest price band, which is moderate levels of investor excitement.

Q-4. Why is the PhysicsWallah IPO significant?
Ans- It is a listed ed-tech company and one of the first major in India, which shows prospects of growth in terms of online/offline education, and it has good brand strength. Nonetheless, it is also operating in a competitive, dynamic industry.

Q-5. Should I apply for the PhysicsWallah IPO?Ans- The application process is based on risk appetite. You can consider the company in case you believe in its growth story and are not afraid of increased risk (absence of profitability, competition in the sector). In case you want to be on the low side you can wait until post-listing performance.