“This article expresses my personal analysis based on publicly available financial data and market reports.”

PhysicsWallah IPO Listing Today: Will It Deliver a Strong Market Debut?

When a humble YouTube channel turns into a ₹3,480 crore IPO, you know something big is brewing. The ed-tech firm PhysicsWallah (PW) is making its debut in the Indian markets on 18 November 2025, and many investors are watching with excitement—and a little caution. 

Behind the numbers is a story of ambition, dreams and the massive transformation of India’s ed-tech landscape. Let’s break it all down in a way that any casual investor or enthusiast can follow.

PhysicsWallah IPO Listing

The IPO opened for subscription from 11–13 November 2025 and was listed on 18 November 2025. The price band was set at ₹103–₹109 per share. According to grey market data, the GMP (grey-market premium) stood at around ₹14, signalling an expected listing at roughly ₹123. 

For an ed-tech firm still facing profitability headwinds, that kind of premium shows strong investor emotion and hope for future growth.

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Key Numbers & Subscription – What the Market Says

This IPO raised about ₹3,480.71 crore. Subscription was 1.81x in total. But digging deeper: Qualified Institutional Buyers (QIBs) subscribed ~2.70-2.86x, while retail investors were more muted (just over 1x).

What that says: institutions are placing bigger bets; retail is cautious. In the 2025 IPO market, this mix is common—growth names draw appetite, but many investors still wait for profits.

Why the Hype? Ed-Tech & 2025 Growth Trends

The ed-tech wave in India has been long talked about. With PW, there’s a real-world story: started by Alakh Pandey via YouTube, grew into classrooms + online learning, led a shift from free content to paid subscriptions.

In FY 23, the revenue was around ₹772 crore; in FY 25, it soared past ₹3,000 crore. That kind of growth is rare. So for 2025, this IPO is riding two big trends: (1) digital/online learning boom; (2) hybrid business (online + offline) gaining traction as lockdown-era models evolve.

Key reasons behind strong investor interest:

• Huge student community backing the brand
• Strong revenue growth from online + offline hybrid model
• Rapid expansion into coaching centres (PW Vidyapeeth)
• Healthy profitability compared to other edtech players
• Strong recall value among youth

PhysicsWallah has built something rare — trust.
And trust sells in the stock market.

Expert Views: What Kind of Listing Can We Expect?

Market experts feel the listing will reflect three major factors:

1. Strong brand value

PW has become a household name. This reduces perceived risk for many first-time investors.

2. Solid GMP

Grey market traders have remained positive from Day 1.
This alone can set the tone for a premium debut.

3. Positive retail subscription

Retail investors oversubscribed the issue, reflecting high confidence.

Experts say that the company might list with a double-digit premium, depending on early buying demand.

Risks You Shouldn’t Ignore

Of course, no story is perfect.

According to Mint, thile revenue is growing, losses remain substantial. Cumulative losses of over ₹1,400 crore across FY23–FY25 show the company hasn’t yet turned a large profit. Also, the GMP and early listing gains tell one story; the long-term value will depend on execution—scaling offline centres, retaining students, controlling costs.

In 2025, investors are more sensitive: growth is appreciated, but only if sustainability looks credible.

What This Means for Investors – My View

From my side, here’s how I see it: If you believe in India’s digital education future and have a medium-to long-term outlook (3–5 years), then PhysicsWallah IPO is worth watching. The listing premium suggests a short-term gain, but the real upside lies in what comes after the first 100 days.

If you are a short-term trader, the early listing might deliver gains, but if you are conservative, waiting for clearer profitability might make sense.

Listing Day Magic – What to Expect

On listing day (18 November 2025), the stock is expected to open for trading at 10 a.m. on the BSE and NSE. Pre-listing quotes hinted at ~Rs 123 share price, which means roughly 13% premium on issue price.

These numbers are exciting, but remember—they reflect expectation, not guaranteed performance. After listing, the market will test whether growth is real and profits follow.

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What the Future Holds for Ed-Tech & IPOs

The broader picture: Ed-tech IPOs in 2025 are becoming more realistic. Gone are the days of sky-high valuations with little discipline. Companies now need to show growth and a roadmap to profitability. PhysicsWallah is in that transition zone.

For investors, monitoring how PW uses the funds (offline expansion, tech upgrades, hybrid model) will matter more than listing day fireworks.

Conclusion

I’m genuinely optimistic about PhysicsWallah IPO—it feels like a milestone not only for the company, but for India’s education sector. The story of a YouTube tutor turning into a nearly ₹30,000 crore valuation company is inspiring.

But here’s the human truth: Listing day euphoria is easy; delivering consistent results is the hard part. If you’re in this for the next 5 years, this could be a meaningful ride. If you’re here for a quick flip, tread carefully.

Let’s see how the market responds—but for me, this feels like more than just a listing. It’s a story of ambition, growth, and real change in 2025.

FAQs About PhysicsWallah IPO & Share

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Disclaimer: The views and recommendations above are those of individual analysts or brokerage companies, not US News Weeks. We advise investors to check with certified experts before making any investment decisions.

Source : The Economic Times & Mint - PhysicsWallah IPO Listing