The initial public offering of edtech unicorn PhysicsWallah received a lukewarm response from investors by garnering only 13 per cent subscription, a day before it closes on Thursday. The bid will close on November 13. The Rs 3,480-crore initial share sale received bids for 2,38,20,601 shares against 18,62,04,143 shares on offer, according to the NSE data. The portion for retail individual investors received 58 per cent subscription, while the quota for non-institutional investors was subscribed 6 per cent. However, qualified institutional buyers bid for just 6,302 shares out of 10,11,55,340 on offer. On Monday, PhysicsWallah said it has raised Rs 1,563 crore from anchor investors. This will be the first major pure-play edtech company to list on the country's bourses. The company fixed a price band of Rs 103-109 per share for its IPO, which may peg its valuation at over Rs 31,500 crore at the upper end. The IPO comprises a fresh issue of equity shares worth Rs 3,100 crore and a