The allotment for the much-awaited PhysicsWallah IPO was finalized on November 14, 2025, and all eyes are now on its listing scheduled for November 18 on both the BSE and NSE. The issue, priced at ₹103–₹109 per share, witnessed strong interest from retail and institutional investors.
In the grey market, PhysicsWallah shares are currently trading at ₹115, indicating a modest 5.5% premium over the upper price band. Market observers say this points to a muted to mildly positive listing, depending on market sentiment on the opening day.
Key Highlights
IPO allotment finalized on November 14, 2025
GMP at ₹115, signaling a 5.5% expected listing gain
Listing across BSE and NSE on November 18
Promoters’ stake to reduce from 80.62% to 72% post-IPO
Issue includes ₹3,100 crore fresh issue + ₹380 crore OFS
Demat Account & Refund Updates
If allotted: Shares will reflect in your NSDL/CDSL demat account before listing day.
If not allotted: Refunds via ASBA/UPI should reach the bank account used during the application, typically within 2–3 working days.
Expected Listing Price (GMP-Based)
With the grey market premium hovering around ₹6, analysts estimate a potential listing around:
👉 ₹112–₹118 per share
However, experts caution that GMP is unofficial and sentiment-driven, and actual listing may differ based on market conditions.
About the Investors
Early backer Think Investments, a global firm managing $4 billion, has supported several Indian startups including Swiggy, FirstCry, Urban Company, PharmEasy, Spinny, NSE, Meesho, Rapido, Chaios, and Dream11, adding strong credibility to the IPO.
