India, Nov. 18 -- PhysicsWallah Ltd. soared on its trading debut today for a valuation in excess of $5 billion, as prospects of continued growth fuelled investor appetite.

PhysicsWallah's share price rose as much as 48.66% over the IPO price of Rs.109 to Rs.162.05 on the BSE even as the benchmark Sensex traded up to 0.5% lower. The stock listed at a premium of 33%.

The company, co-founded by Alakh Pandey and Prateek Maheshwari, is the first edtech firm to go public after the sector saw Byju's-once valued at $22 billion-collapse into insolvency, bringing down the entire industry with it. Peers like Unacademy are stuggling for survival, so much so that the company might get sold at a fraction of its valuation.

PhysicsWallah had targeted ...