[[{“value”:”
Edtech major PhysicsWallah’s shares made a stellar debut on the bourses today, listing at a premium of 33% at INR 145 on the NSE.
The stock got listed at INR 143.10 on the BSE, a premium of 31.39% to the issue price of INR 109.
The edtech company had set a price band of INR 103-109 for its public issue. At the upper end of the price band, the company sought a valuation of INR 31,169 Cr (about $3.5 Bn).
The public issue, which comprised a fresh issue of INR 3,100 Cr and an offer for sale (OFS) of INR 380 Cr, was subscribed 1.8X.
PhysicsWallah’s cofounders, Alakh Pandey and Prateek Maheshwari, sold shares worth INR 780 Cr via the OFS. None of the institutional investors offloaded their shares via the OFS.
While Pandey and Maheshwari held 40.31% stake each in the company ahead of the IPO, WestBridge held a 6.40% stake. GSV Ventures and Lightspeed had 2.85% and 1.79% stake, respectively, in PhysicsWallah.
(The story will be updated soon)
The post PhysicsWallah Makes Blockbuster Debut, Shares List At 33% Premium appeared first on Inc42 Media.
“}]]
Read More Latest Startup News From The Indian Startup Ecosystem – Inc42 Media