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What is the story about?
Shares of Physicswallah Ltd
are trading 4% lower on Thursday, February 12, as the three-month shareholder lock-in period comes to an end.
With the lock-in period coming to an end, a total of 71.7 million shares, or 3% of Physicswallah’s outstanding equity, will be freed up for trading, according to Nuvama Alternative & Quantitative Research.
On the basis of Wednesday’s closing value or the current traded price, the value of shares available for trading at the end of the lock-in period is worth ₹766.83 crore.
It must be noted that the end of the shareholder lock-in does not mean all the shares will be sold in the open market; they only become eligible for trading.
The stock made a strong Dalal Street debut in November, delivering robust listing gains of 36%. The stock was listed at ₹145 on the NSE, compared with its issue price of ₹109 apiece. On the BSE, the stock made a 31% premium debut at ₹143.10.
PhysicsWallah's post-issue market capitalisation stood at ₹45,974.84 crore; the company’s current market cap is ₹30,584.41 crore.
Shares of the company closed 1.04% lower at ₹106.95 on Wednesday after hitting a 52-week low of ₹106.10 on the same day. The stock is nearly 34% below its 52-week high of ₹161.99 apiece; however, it has gained 6% from its issue price of ₹109 per share.
With the lock-in period coming to an end, a total of 71.7 million shares, or 3% of Physicswallah’s outstanding equity, will be freed up for trading, according to Nuvama Alternative & Quantitative Research.
On the basis of Wednesday’s closing value or the current traded price, the value of shares available for trading at the end of the lock-in period is worth ₹766.83 crore.
It must be noted that the end of the shareholder lock-in does not mean all the shares will be sold in the open market; they only become eligible for trading.
The stock made a strong Dalal Street debut in November, delivering robust listing gains of 36%. The stock was listed at ₹145 on the NSE, compared with its issue price of ₹109 apiece. On the BSE, the stock made a 31% premium debut at ₹143.10.
PhysicsWallah's post-issue market capitalisation stood at ₹45,974.84 crore; the company’s current market cap is ₹30,584.41 crore.
Shares of the company closed 1.04% lower at ₹106.95 on Wednesday after hitting a 52-week low of ₹106.10 on the same day. The stock is nearly 34% below its 52-week high of ₹161.99 apiece; however, it has gained 6% from its issue price of ₹109 per share.
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