What is IPO Grey Market Premium (GMP)?

IPO Grey Market Premium (GMP) is an unofficial, over-the-counter premium over the issue price that dealers and investors pay prior to official listing on NSE/BSE.

How is estimated IPO listing price determined?

Estimated Listing Price = Cut-off / Issue Price + Current Grey Market Premium (GMP). For example, an issue price of ₹100 with ₹40 GMP yields an estimated listing price of ₹140 (+40%).

What is Kostak rate in an IPO?

Kostak rate is the fixed profit earned by selling an IPO application before allotment, irrespective of whether the application is allotted shares or not.

What is Subject to Sauda in IPO trading?

Subject to Sauda is an informal contract where payment is made only if the seller receives share allotment in the IPO.

Is IPO Grey Market Premium (GMP) regulated by SEBI?

No. Grey Market transactions are non-exchange over-the-counter commitments and are not officially regulated or endorsed by SEBI. Investors should treat GMP as an informal sentiment indicator.

What is the current subscription status of PhysicsWallah Limited IPO?

PhysicsWallah Limited IPO has received a total subscription of 1.91 times overall.

IPO GreyPremiumLIVE

Grey Market Intelligence

PhysicsWallah Limited

ListedMainboard

Education Technology · NSE / BSE

The company is a leading EdTech platform offering online, offline, and hybrid test preparation for exams like JEE, NEET, and UPSC, along with upskilling courses in Data Science, Finance, and Software Development. As of July 15, 2025, it had 13.7 million YouTube subscribers, 4.13 million online transacting users, and 0.33 million offline enrolled students, totaling 4.46 million paid users with a CAGR of 59.19% from FY23 to FY25. It operates 198 tech-enabled hybrid centers, has 5,096 faculty members, and employs 15,775 people. The company has published 3,582 books and ranks among the top five EdTech firms in India by revenue. IPO proceeds will primarily be used for expanding offline and hybrid centers (₹1,056 crore), upgrading server and cloud infrastructure (₹200 crore), marketing (₹710 crore), acquisitions and investments (₹107 crore), and other corporate purposes.

Price Band

₹103 – ₹109

Issue Size

₹3480 Cr

Lot Size

137 shares

GMP

₹11

+10.1%

Est. Listing

₹120

at current GMP

Subscribed

1.91x

overall

Open

11 Nov 2025

13 Nov 2025

Allotment

14 Nov 2025

Refund

15 Nov 2025

Demat Credit

16 Nov 2025

Listing

18 Nov 2025

Last updated 12 days ago

Overview Live GMP Subscription Status Allotment Status Filing Documents

Overall Subscription

1.91x

Total Demand

QIB Multiplier

2.86x

Institutions & Funds

NII / HNI

0.51x

High Net-Worth

Retail (RII)

1.12x

Individual Bidders

Category-Wise Subscription Breakup

Live bidding breakdown by institutional, non-institutional, and retail investors

Total 1.91x

Category	Shares Offered	Shares Applied / Bid	Times Subscribed
QIB	95,538,505	273,575,848	2.86x
NIB	47,783,848	24,424,223	0.51x
HNIs(10L +)	31,855,898	18,567,610	0.58x
HNIs (2-10L)	15,927,949	5,856,613	0.37x
RETAIL	31,855,898	35,600,272	1.12x
EMPLOYEES	707,071	2,626,701	3.71x
Total	223,669,169	360,651,267	1.91x

Application-Wise Breakup

Total unique applications received across retail and HNI tranches

Apps 0.81x

Category	Applications Reserved	Applications Received	Times Subscribed
RETAIL	232,525	196,535	0.85x
EMPLOYEES	—	8,595	0.00x
HNIs(10L +)	16,609	1,218	0.07x
HNIs (2-10L)	8,304	2,524	0.30x
Total Applications	257,438	208,872	0.81x

Day-Wise Subscription Progress

Track continuous institutional and retail bidding order books for all active issues on the ipo live subscription feed.

About PhysicsWallah Limited Public Issue & Market Profile

PhysicsWallah Limited is bringing an initial public offering (IPO) in the Education Technology sector with an aggregate issue size of ₹3,480 Crores. The shares are offered at a price band of ₹103 to ₹109 per equity share on NSE and BSE. Currently, investors are tracking the grey market premium (GMP) and institutional subscription multiples closely across BSE and NSE portals.

Bidding & Quota Instructions:

The public offer consists of a fresh issue and offer-for-sale structured under SEBI regulations. Bidding is open to Qualified Institutional Buyers (QIB), Non-Institutional Bidders (NII/HNI), and Retail Individual Investors (RII). Applications can be submitted online using ASBA or UPI mandate through certified stock brokers and net banking portals.

Allotment Reconciliation Schedule:

Following the close of bidding on 2025-11-13, the basis of allotment is scheduled to be finalized on 2025-11-14. Investors can verify their application status online by submitting their PAN card number, Application Number, or DP Client ID on the registrar's official portal (Link Intime India Private Limited) or the BSE allotment checking window.

Frequently Asked Questions

What is PhysicsWallah Limited IPO GMP today?

The latest Grey Market Premium (GMP) for PhysicsWallah Limited IPO is ₹11 per equity share. Based on the upper price band of ₹103 to ₹109 per equity share, the estimated listing price is ₹120 (+10.1% expected listing gain).

What is the expected profit per lot for PhysicsWallah Limited IPO?

With a lot size of 137 shares and current GMP of ₹11, the expected profit per application lot is approx ₹1,507 (+10.1% gain). Minimum application cost is approx ₹14,933.

What is the issue size and price band for PhysicsWallah Limited IPO?

The PhysicsWallah Limited IPO aggregate issue size is ₹3,480 Crores with an equity price band set at ₹103 to ₹109 per equity share. The retail lot size is 137 shares requiring a minimum capital outlay of approx. ₹14,933.

How can I check PhysicsWallah Limited IPO live subscription demand?

Live subscription figures are compiled real-time from the NSE and BSE bidding engines. Currently, overall subscription is 1.91x (Retail: 1.12x, QIB: 2.86x, NII: 0.51x). You can track live multiples directly on our dedicated subscription page.

Where and when will PhysicsWallah Limited IPO allotment status be published?

The basis of allotment will be published on the official registrar portal (Link Intime India Private Limited) and the BSE status verification website on or around 2025-11-14. Investors can verify status using PAN card or application number.

When is the listing date for PhysicsWallah Limited IPO?

PhysicsWallah Limited shares are scheduled to list on NSE and BSE on 2025-11-18.