PhysicsWallah shares will be listed on the stock exchanges on November 18, with analysts advising investors to take a long-term view while considering partial profit-booking.

The Edtech firm's Rs 3,480-crore initial public offering (IPO) was subscribed nearly two times during the November 11–13 issue period.

Narendra Solanki, Head of Fundamental Research – Investment Services at Anand Rathi Shares and Stock Brokers, said the company is valued at 10.8 times FY25 price-to-sales at the upper end of the price band, implying a post-issue market capitalisation of about Rs 3,117 crore. He said the company aims to expand its student base by offering free content across platforms and converting users into paying customers through improved technology, targeted marketing and expert-led content.

He aded, the company also plans to widen its course portfolio and launch new categories in multiple Indian languages. "Investors with a long-term view may continue to hold the stock, while others could consider partial profit-booking and retain the remaining position for the long term," he said.