Physicswallah IPO lock-in expiry: Rs 2,949 crore worth of shares to free up for trade today. Do you own?

The shares of edtech platform Physicswallah will remain in focus on Monday as nearly 26 crore shares worth around Rs 2,949 crore, representing 9% of the company’s total equity, are set to become eligible for trade after the six-month lock-in period expires today, according to Nuvama Institutional Equities.

However, it is important to note that the lock-in expiry does not imply that all these shares will be offloaded in the market immediately. It simply means that these shares can now be traded by the shareholders. At the previous closing price of Rs 113.85 apiece on NSE, the said number of shares that will free up for trade today is worth more than Rs 2,948.72 crore.

Physicswallah share price

Physicswallah shares had made a healthy market debut in November last year, listing with a premium of 33% over the IPO price at Rs 145 apiece on NSE. This came after the Rs 3,481 crore IPO was subscribed nearly 2 times its offer size, primarily driven by strong interest from the qualified institutional buyers (QIB). On the day of listing, the shares of the Alakh Pandey-founded company surged to Rs 161.99 apiece, before beginning to decline. The stock crashed 52% in less than four months to hit a record low of Rs 77.72 apiece on March 4 this year.

The stock has so far recovered 47% from that level to close at Rs 113.85 apiece on Friday. It is however still down 22% from its listing price of Rs 145 apiece and 5% higher than its IPO price of Rs 109 apiece.

Physicswallah earnings snapshot

Physicswallah in February this year reported a 34% year-on-year (YoY) rise in operating revenue to Rs 1,082.4 crore for the October-December quarter of FY26, driven by growth in paid users and expansion of its offline centre network.Its net profit meanwhile rose to Rs 102.3 crore in Q3 FY26, compared with Rs 70 crore in Q2 FY26.

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