Description

NSE announces the listing of 2,859,692,500 equity shares of Physicswallah Limited on the Capital Market segment effective November 18, 2025, with an issue price of Rs. 109 per share.

Summary

The National Stock Exchange has approved the listing of equity shares of Physicswallah Limited (Symbol: PWL) on the Capital Market segment effective November 18, 2025. The IPO consists of 2,859,692,500 equity shares with a face value of Re. 1/- each, issued at Rs. 109 per share. The security will have ISIN INE0LP301011 and will trade with a market lot size of 1 share. The company operates in the education technology sector.

Key Points

  • Company Name: Physicswallah Limited
  • Trading Symbol: PWL
  • Total Shares Listed: 2,859,692,500 equity shares
  • Face Value: Re. 1/- per share
  • Issue Price: Rs. 109 per share
  • ISIN: INE0LP301011
  • Series: EQ (Equity)
  • Market Lot: 1 share
  • Listing Date: November 18, 2025
  • Registered Office: Plot No. B-8, Tower A, 101-119, Noida One, Sector-62, Gautam Buddha Nagar, Noida - 201309, Uttar Pradesh
  • Registrar: MUFG Intime India Private Limited (formerly Link Intime India Private Limited)

Regulatory Changes

No regulatory changes introduced. This circular implements existing listing regulations under Regulation 3.1.1 and Regulation 2.5.5 of the National Stock Exchange (Capital Market) Trading Regulations Part A.

Compliance Requirements

  • Members must note the security will participate in the pre-open session for IPO and Other category of scrips as per SEBI circular no. CIR/MRD/DP/01/2012 & CIR/MRD/DP/02/2012 dated January 20, 2012
  • Trading will be conducted using the designated security code (PWL) only
  • Trading must be in the specified lot size of 1 share
  • Company Secretary and Compliance Officer: Mr. Ajinkya Jain (Contact: +91 9289926531, Email: investorsrelation@pw.live)

Important Dates

  • Circular Issue Date: November 17, 2025
  • Effective Date/Listing Date: November 18, 2025
  • Lock-in Expiry Dates (various tranches):
    • December 13, 2025 (multiple tranches)
    • February 11, 2026 (multiple tranches)
    • May 15, 2026 (multiple tranches)
    • November 15, 2026 (multiple tranches)
    • November 15, 2028 (long-term lock-in tranches)
  • Financial Year: April 2025 - March 2026

Impact Assessment

Market Impact: The listing adds a significant education technology company to the NSE Capital Market segment. With 2.86 billion shares at an issue price of Rs. 109, this represents a substantial IPO in the edtech sector.

Investor Impact: Various lock-in periods apply to different share tranches, with some shares locked until November 2028. A significant portion of shares (approximately 732.76 million + 289.24 million shares) have lock-ins extending to November 2026 and 2028, which may affect liquidity.

Trading Impact: The security will be part of the pre-open IPO session, allowing price discovery before regular trading begins. The market lot of 1 share provides flexibility for retail investors.

Operational Impact: Members and investors can begin trading PWL shares from November 18, 2025, following standard NSE Capital Market segment procedures.

Impact Justification

New IPO listing of significant size (2.86 billion shares) provides investment opportunity but has limited immediate impact on existing market participants