PhysicsWallah, one of India's most followed edtech platforms, is set to finalise the allotment of its initial public offering (IPO) on Friday. The Rs 3,480-crore IPO -- among the largest from the edtech sector -- closed on Thursday with moderate subscription and a nil grey market premium (GMP), indicating a cautious sentiment ahead of its market debut on November 18 on both BSE and NSE. Advertisement

The IPO, open for bidding between November 11 and 13, received applications for 33.62 crore shares against 18.62 crore shares on offer, reflecting an overall subscription of 1.81 times, according to NSE data.

The Qualified Institutional Buyers (QIBs) segment led demand with a 2.7-times subscription. The retail investor portion saw marginal interest at 1.06 times, while the Non-Institutional

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