PhysicsWallah Shares Soar 45% on Market Debut, Valuing Edtech Firm at $5.1 Billion
Indian edtech company PhysicsWallah made a strong market debut on Tuesday, with its shares jumping 45% and valuing the startup at $5.1 billion. The stock opened at 145 rupees on the National Stock Exchange, up 33% from its issue price of 109 rupees, and continued climbing to 158.38 rupees by 10:02 a.m. IST. The debut comes as broader markets edged lower ahead of key U.S. economic data.
PhysicsWallah’s listing marks a milestone for the edtech sector, becoming the first company in the space to go public after industry giants like Byju’s sank into insolvency and others, including Unacademy, faced layoffs and financial pressures. The company had aimed for a valuation of $3.19 billion from its $393 million IPO, but strong investor demand—driven largely by qualified institutional buyers—pushed bids to $414 million.
The successful listing adds to a streak of robust market debuts in India, following recent entries by online brokerage Groww and payment solutions firm Pine Labs. With India’s IPO market on track for record fundraising in 2025 and more than 300 companies raising nearly $16.55 billion as of early November, PhysicsWallah’s performance underscores sustained investor confidence in the country’s capital markets.
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