PhysicsWallah Makes Blockbuster Stock Market Entry
The Indian stock market witnessed a spectacular debut from edtech major PhysicsWallah on November 18, 2025, as the company's shares extended their rally after a strong listing on both major exchanges. The highly anticipated IPO listing saw the company's valuation surge significantly, reflecting strong investor confidence in India's education technology sector.
Impressive Listing Gains and Trading Performance
PhysicsWallah shares commenced trading on the National Stock Exchange (NSE) at ₹145 per share, representing a substantial premium of 33.03% over the issue price of ₹109. On the Bombay Stock Exchange (BSE), the stock opened at ₹143.10 per share, marking a 31% premium to the IPO price.
The bullish momentum continued throughout the trading session, with PhysicsWallah shares hitting an intraday high of ₹162.05 apiece on the BSE. This impressive performance translated to a 13.24% gain from the listing price and a remarkable 48.66% surge from the original issue price, far exceeding street estimates that had predicted around a 13% listing premium.
Analyst Recommendations and Market Sentiment
According to Shivani Nyati, Head of Wealth at Swastika Investmart Ltd, the stellar listing reflects investor confidence in the company's strong brand recall, affordable test-prep offerings, and its fast-growing hybrid model. The IPO witnessed healthy retail participation, driven by expectations of continued demand for hybrid learning and deeper penetration in Tier II–III markets.
Nyati highlighted PhysicsWallah's key strengths including:
- A loyal and growing student base
- Scalable digital content engine
- Expanding offline footprint through PW Pathshala centers
- Diversified presence across JEE, NEET, UPSC, and state-level exams
However, analysts also pointed to potential challenges including intense competition from other edtech and offline coaching giants, regulatory uncertainties in the education sector, and maintaining profitability during expansion phases.
Investment Strategy and IPO Details
Most market experts are recommending allottees to book partial profits while holding the remaining shares for medium to long-term growth. Nyati specifically advised maintaining a stop loss at the ₹130 level for retained positions.
The PhysicsWallah IPO, which was open for subscription from November 11 to November 13, 2025, witnessed total subscription of 1.81 times. The company successfully raised ₹3,480.71 crore through this book-build issue, with the price band set between ₹103 to ₹109 per share.
The overwhelming response to PhysicsWallah's market debut underscores the growing investor appetite for profitable edtech companies in India, particularly those with sustainable business models and strong fundamentals.
