PhysicsWallah defies grey market trend, gains 44% on Day 1

Defying grey market expectations in the backdrop of a tepid subscription rate for its initial public offering (IPO), PhysicsWallah made a strong market debut on Tuesday. The edtech company’s shares were listed at Rs 145 apiece on the NSE, a premium of more than 33% from the IPO price of Rs 109. Following the listing, the scrip advanced 12% to hit the day’s high at Rs 161.99 and finally settled at Rs 156.49 apiece (up 44%).