Physicswallah Ltd. makes a strong debut on the bourses with scrip got listed at Rs 143.10 on the Bombay Stock Exchange, a 31.28 per cent premium to its issue price of Rs 109.00. On the National Stock Exchange, the stock was listed at Rs 145.00.
The company, which raised 31.93 Cr from initial public offering, was subscribed 0 times, receiving bids for 0 lakhs shares against the total issue size of 3,192.66 lakhs shares.
The company, listed under B Group Securities post its IPO, opened for subscription from Nov 11 to Nov 13.
Following a strong opening, the scrip touched an intraday high of Rs [BSEHighPrice] and a low of Rs [NSEHighPrice], before closing the session [UpDown] by [ChangePer] per cent to its listing price at Rs [ClosingPriceBSE] on the BSE.
The company anticipates using the proceeds of the issue for (i) capital expenditure for fitouts of new offline centers of Xylem (“New Xylem Centers)(ii) lease payments for Xylem’s existing identified offline centers and hostels Investment in our Subsidiary, Utkarsh Classes & Edutech Private Limited for expenditure towards lease payments for Utkarsh Classes’ existing identified offline centers Expenditure towards server and cloud related infrastructure costs Expenditure towards marketing initiatives Acquisition of additional shareholding in our Subsidiary, Utkarsh Classes & Edutech Private Limited Funding inorganic growth through unidentified acquisitions and general corporate purposes.
JP Morgan India Private Limited.,Kotak Mahindra Capital Company Ltd.,Axis Capital Limited,Goldman Sachs (India) Securities Pvt. Ltd. as lead managers & MUFG Intime India Pvt. Ltd. is the registrar, to the issue.
Meanwhile, the broader benchmark BSE Sensex closed trade at 84,950.95, up 388.17 points, or 0.45 per cent.