PhysicsWallah IPO listing date tomorrow. Here’s what GMP signals about debut of shares on Dalal Street

By Admin

18 Nov, 2025

India’s fast-growing edtech platform PhysicsWallah is set to make its highly anticipated stock market debut tomorrow. With strong investor interest and positive grey market trends, the company’s listing on November 18, 2025, is expected to draw considerable attention from market participants.

A Major Milestone for PhysicsWallah
The equity shares of PhysicsWallah Ltd will officially list on both the BSE and NSE on November 18. The company, which recently concluded its initial public offering (IPO), has already received confirmation from the stock exchanges. According to a notification from the BSE, the shares are “listed and admitted to dealings on the Exchange in due course,” marking a significant milestone for the edtech giant.

Grey Market Premium Indicates a Positive Debut
Ahead of the listing, all eyes are on the grey market premium (GMP), which often serves as an early indicator of how the stock may perform on listing day. As of today, the PhysicsWallah IPO GMP stands at ₹9 per share. This means the shares are trading at a premium of ₹9 over the IPO issue price in the grey market.
Based on this GMP, the estimated listing price is projected to be around ₹118 per share an upside of more than 8% compared to the IPO price of ₹109. While GMP is unofficial and speculative, it does reflect market sentiment and points to a decent debut on Dalal Street.

Subscription Status and IPO Breakdown
The public issue opened for subscription from November 11 to 13, and the allotment was finalized on November 14. The IPO saw decent demand overall, with a total subscription of 1.81 times, according to NSE data.
Here’s how different investor categories responded:
• Retail Individual Investors (RIIs): Subscribed 1.06 times
• Non-Institutional Investors (NIIs): Subscribed 48%
• Qualified Institutional Buyers (QIBs): Subscribed 2.70 times

The company raised ₹3,480.71 crore through the IPO. This consisted of a fresh issue of 28.45 crore shares worth ₹3,100.71 crore, along with an offer-for-sale (OFS) of 3.49 crore shares to raise ₹380 crore. The final price band for the issue was ₹103 to ₹109 per share.
Kotak Mahindra Capital Co. Ltd. acted as the book-running lead manager, while MUFG Intime India Pvt. Ltd. served as the registrar.

What Investors Should Keep in Mind
With the listing just a day away, investor expectations are high. A positive GMP, decent subscription figures, and strong brand recognition position PhysicsWallah for a potentially healthy debut. However, market experts advise caution GMP is merely indicative, and actual listing performance will depend on overall market conditions and investor appetite on listing day.

Disclaimer: The views and recommendations mentioned above are those of individual market analysts and broking firms. Investors are advised to consult certified financial experts before making any investment decisions.