Shares of Physicswallah Ltd saw a sharp decline on Wednesday, falling 7.51 per cent to close at Rs 143.55. Even at this level, the stock -- which debuted yesterday -- remains 31.70 per cent above its initial public offering (IPO) price of Rs 109.

The Rs 3,480-crore IPO -- one of the largest in the edtech space -- ended with moderate subscription. The issue included a fresh equity sale of 28.44 crore shares worth Rs 3,100 crore and an offer-for-sale (OFS) of 3.49 crore shares amounting to Rs 380 crore. Advertisement

Commenting on the market price action, Kranthi Bathini, Director of Equity Strategy at WealthMills Securities, advised booking profit at current levels.

Echoing a similar view, Ravi Singh, Chief Research Officer at Mastertrust, said the stock doesn't appear good on the chart

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