Tuesday's share market did not show good momentum from the start. The Sensex and Nifty indices witnessed a decline since morning. But PhysicsWallah surprised everyone. PhysicsWallah's IPO got listed in the market on this day. And it listed with a 33 percent premium on the very first day. It gave more profit at the time of listing than what the grey market premium had indicated.
This stock got listed at ₹145 on NSE. This stock got listed at ₹143.10 on BSE. PhysicsWallah's issue price was ₹109, meaning the stock got listed with a 33% premium. Though there were indications in the grey market that this IPO could give some modest profit, it listed with even higher gains.
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Experts believe that investors have placed their trust in this company. Though it did not particularly catch attention in terms of subscription, the amount of profit at the time of listing has drawn attention. PhysicsWallah is one of India's leading education brands. Created by Alakh Pandey, PhysicsWallah's journey began with a YouTube channel. That has now become a hybrid education network.
It provides preparation for various competitive examinations and mock test services. Classes are conducted both online and offline. Training for multiple upskilling programs is also provided. It has 13.7 million subscribers on YouTube. The company has 303 centers across the country, combining offline and hybrid.
Even after listing, PhysicsWallah's share price showed growth. The share price increased by about five percent. Around 1:30 PM, its price was around ₹151.
{News Ei Samay does not provide investment advice anywhere. Investment and trading in share markets or any field involves risk. Proper study and expert advice are recommended beforehand. This news is published for educational and awareness purposes.}
