PhysicsWallah IPO: A day ahead of its much-anticipated initial public offering (IPO), edtech firm PhysicsWallah completed its anchor investment round. The firm, co-founded by Alakh Pandey, Prateek Maheshwari and Ankit Maurya, raised over ₹1,500 crore in the anchor round ahead of the PhysicsWallah IPO.
The company raised ₹1,562.85 crore a day ahead of the public issue, it said on Monday.
PhysicsWallah IPO is set to open for bidding on Tuesday, November 11.
PhysicsWallah has allotted, 14,33,80,733 equity shares to 57 anchor investors. The funds were raised at the upper price band of ₹109 per equity share with face value of ₹1 per share (including share premium of ₹109 per equity share).
Out of the total allocation of 14,33,80,733 equity shares to the anchor investors, 7,95,48,091 equity shares amounting to 55.48% of the gross allocation, were allocated to 14 domestic mutual funds. This was done through a total of 35 schemes.
The anchor book saw participation from a wide variety of domestic investors. They included — ICICI Prudential MF, Kotak MF, Nippon MF, Aditya Birla Sun Life MF, DSP MF, 360 ONE, Motilal Oswal MF, Tata MF, Bharti AXA MF, Edelweiss MF, and Canara Robeco MF to name a few. The anchor book saw participation from a wide variety of international investors, including Capital Research, Goldman Sachs Asset Management (GSAM), Fidelity, Franklin Templeton Global, Eastspring Investments, Pine Bridge and White Oak Capital.
PhysicsWallah IPO opens tomorrow: Dates, price band, GMP, more
PhysicsWallah is all set to launch its IPO on Tuesday, November 11.
The ₹3,480 crore book build issue combines a fresh issue of 28.44 crore shares for ₹3,100 crore and an offer for sale (OFS) of 3.49 crore shares for ₹380 crore.
The PhysicsWallah IPO will open on November 11 and close on November 13.
PhysicsWallah IPO price band has been set at ₹103 to ₹109 per share.
According to grey market sources, PhysicsWallah IPO GMP on November 10 was ₹4. Considering the upper price band of the mainboard IPO at ₹109 per share, the estimated listing price of PhysicsWallah shares is ₹113, a premium of nearly 4 per cent.
The PhysicsWallah IPO lot size has been set at 137 shares. The minimum lot size for a retail investor is one lot. With the issue’s upper price band at ₹109, the minimum amount of investment required by retail investors is ₹14,933. The maximum lot size for retail investors is 13 for ₹1,94,129.
Shares of PhysicsWallah will list on NSE and BSE on Tuesday, November 18.
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