PhysicsWallah Ltd. soared on its trading debut today for a valuation in excess of $5 billion, as prospects of continued growth fuelled investor appetite.
PhysicsWallah’s share price rose as much as 48.66% over the IPO price of ₹109 to ₹162.05 on the BSE even as the benchmark Sensex traded up to 0.5% lower. The stock listed at a premium of 33%.
The company, co-founded by Alakh Pandey and Prateek Maheshwari, is the first edtech firm to go public after the sector saw Byju’s—once valued at $22 billion—collapse into insolvency, bringing down the entire industry with it. Peers like Unacademy are stuggling for survival, so much so that the company might get sold at a fraction of its valuation.
PhysicsWallah had targeted a valuation of $3.19 billion (about ₹28,000 crore) from its ₹3,500-crore IPO, which garnered bids worth ₹3,673.29 crore.
India’s IPO market headed for record fundraising in 2025 and has seen over 300 companies raising about $16.55 billion as of early November. PhysicsWallah’s listing is the latest in a string of strong market debuts by firms such as Groww and Pine Labs.