Physics Wallah IPO: The much awaited Initial Public Offering (IPO) of Physicswala has started. Anchor investors have placed bets on it on November 10. At the same time, IPO is opening for retail investors on Tuesday 11th November.
The company has been successful in raising approximately Rs 1,563 crore from anchor investors. Physicswala is a well-known ed-tech company of the country, whose IPO is being launched. There is an opportunity for retail investors to place bets in IPO from today. The IPO will remain open for retail investors till 13 November.
What is the price band of IPO?
PhysicsWallah has fixed the price band of its IPO at Rs 103 to Rs 109 per share. The company has made a lot of 137 shares. Due to which retail investors will have to spend Rs 14933 in lump sum. Besides, the company has also announced a discount of Rs 10 on one share for its employees.
Through IPO, the company is launching fresh equity shares worth Rs 3,100 crore and shares worth Rs 380 crore will be made available under offer for sale. Both the promoters of Physicswala are offloading shares worth Rs 190 crore.
The company will expand with the money raised from IPO.
According to the information received, Physicswala has said that the money raised from the IPO will be used for the development work of the company. With this money the company is planning to build offline and hybrid centres. Apart from this, Rs 47.2 crore will also be spent in lease payment and subsidiary company Xylem Learning.
Apart from server and cloud infrastructure, Physicswala is also going to spend this money in marketing. Physicswala was started in 2020. Earlier, preparation for competitive exams like NEET, JEE Mains, NCERT was done on YouTube.
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