Day 3 of the PhysicsWallah IPO: Verify GMP, subscriber status, review, and important dates. Do you want to apply?

The PhysicsWallah IPO, with a price range of ₹103-109, began accepting subscriptions on November 11 and will end on November 13. By day two, only 12% of people had subscribed, indicating a lackluster response. 50% of bookings are made by ordinary investors, while 75% are held by qualified institutional buyers.

Subscriptions for the Edtech unicorn PhysicsWallah's public offering began on Tuesday, November 11, and will end on Thursday, November 13. Today's PhysicsWallah IPO GMP is ₹1.25.

As of the second day of bidding, the PhysicsWallah IPO has had a disappointing reaction. However, complete subscription of the issue may occur on the third day of bidding. While the employee category is fully booked, the retail segment has received more than half of the bookings.

PhysicsWallah IPO has set aside at least 75% of shares for qualified institutional buyers (QIB), up to 15% for non-institutional investors (NII), and no more than 10% for individual investors for the public offering. Furthermore, up to ₹70 million in shares have been reserved for staff members.

A price range of ₹103 to ₹109 has been set for the PhysicsWallah IPO.

Refunds will start on Monday, November 17, when the PhysicsWallah IPO's share allocation basis is decided on Friday, November 14. After reimbursements, shares will be credited to allottees' demat accounts on the same day. PhysicsWallah shares are expected to be listed on the BSE and NSE on Tuesday, November 18.

Today's PhysicsWallah IPO GMP
Today's PhysicsWallah IPO GMP is ₹1.25. The expected listing price of PhysicsWallah shares was ₹110.25 per share, which is 1.15% higher than the IPO price of ₹109, taking into account the top end of the IPO pricing band and the present premium in the grey market.

According to an analysis of the grey market trends over the last nine sessions, today's IPO GMP is declining and is expected to continue declining. According to experts, the maximum GMP is ₹9.00, while the lowest is ₹1.25.

Investors' willingness to pay more than the issue price is shown by the "grey market premium."

On day three, the PhysicsWallah IPO subscription status was 16%. 73% of the retail portion was subscribed, 8% of the NII portion was booked, and bids for the Qualified Institutional Buyers (QIBs) portion have not yet been received. There have been 2.19 subscriptions for the employee component.

The PhysicsWallah IPO subscription status was 7% on the first bidding day and 12% on day two.

Details of PhysicsWallah's IPO
A new equity share offering worth ₹3,100 crore and an Offer for Sale (OFS) of up to ₹380 crore from the promoters comprise the PhysicsWallah IPO.

Through the OFS, promoters Alakh Pandey and Prateek Boob would each sell shares valued at ₹190 crore. Both currently own 40.31 percent of the business.

PhysicsWallah, a company based in Noida, used the confidential pre-filing process to submit its draft IPO paperwork to Sebi in March, and the regulator approved them in July. The company then filed the Red Herring Prospectus (RHP) in September after submitting an updated Draft Red Herring Prospectus (DRHP).

By selecting the confidential pre-filing approach, the business was able to postpone making IPO material public until a later time.

The company's expansion and growth strategies will be supported by the money raised.