PhysicsWallah IPO

PhysicsWallah IPO is a book-built issue worth Rs 3,480.00 crores, consisting of a fresh issue of Rs 3,100.00 crores and an Offer for Sale of Rs 380.00 crores. The IPO opens on November 11, 2025, and closes on November 13, 2025, with allotment expected on November 14, 2025, and listing on BSE and NSE scheduled for November 18, 2025. The price band is Rs 103–109 per share. The lot size is 137 shares, requiring a minimum retail investment of Rs 14,933. For sNII, the investment is Rs 2,09,062, while for bNII it totals Rs 10,00,511. Kotak Mahindra Capital Co. Ltd. is the lead manager.

PhysicsWallah IPO Details

Check out the issue details for PhysicsWallah IPO as disclosed in SEBI.

IPO Price

₹ 109

Price Band

₹ 103 - 109

Issue Size

3480 Cr.

Issue Type

Book Built

Open

2025-11-11

Close

2025-11-13

Listingprice

₹ 145

ListingGain

33.03%

Listing Date

2025-11-18

CMP

₹ 129.52

Current Return

18.83%

PhysicsWallah News

Physicswallah informs about updates 19 Nov 2025, 9:41AM PhysicsWallah lists at 31% premium on the BSE18 Nov 2025, 10:26AM PhysicsWallah coming with IPO to raise upto Rs 3683.51 crore10 Nov 2025, 1:05PM

Company Financials

You can get the following financial statements of PhysicsWallah as of now.

Company Name

PhysicsWallah

Exchange

NSE: PWL BSE: 544609

  Profit Loss
  Balance Sheet
  Quarterly
  Shareholding
  Cash Flow

PhysicsWallah IPO Details

The details about the PhysicsWallah IPO are as follows:

  • The issue size of the IPO is Rs 3,480.00 Cr.
  • The price band for PhysicsWallah IPO is Rs 103 to Rs 109.
  • The shares of PhysicsWallah IPO will list on BSE and NSE.
  • The latest tentative GMP of PhysicsWallah IPO is Rs 2.
  • The shares of PhysicsWallah IPO are subscribed 1.92 Times.

 

PhysicsWallah IPO Valuation

The approximate valuation of PhysicsWallah IPO based on its price band and RHP is:

Particulars Value
Upper Price Band Rs 109
Existing Shares (Qty) 257.52 Cr
Fresh Issue Rs 3,100 Cr
Market Cap Rs 29,624.56 Cr
EPS (FY25) Rs -0.86

 

PhysicsWallah IPO Issue Size

PhysicsWallah IPO issue size is Rs 3,480.00 Cr.

Issue Amount
Fresh Issue Rs 3,100.00 Cr
Offer For Sale Rs 380.00 Cr

 

PhysicsWallah IPO Market Lot

An individual can apply for a minimum of 1 lot of 137 shares and a maximum of 13 lots (1,781 shares). Find the details below:

Application Lot Shares Amount
Retail Minimum 1 137 Rs 14,933
Retail Maximum 13 1,781 Rs 1,94,129

 

PhysicsWallah IPO Share Offer

The shares of PhysicsWallah IPO are subscribed 1.92 Times. The category-wise shares offered are as follows:

Category % Offered
Qualified Institutional Not less than 75%
Non-Institutional Not more than 15%
Retail Individual Not more than 10%

 

PhysicsWallah IPO GMP (Grey Market Premium)

As on GMP (Tentative)
11 November 2025 Rs 4
13 November 2025 Rs 2

PhysicsWallah IPO GMP is purely for informational purposes. Invest in an IPO after thoroughly researching on your own.

PhysicsWallah IPO Dates

Find below the dates for PhysicsWallah IPO

Schedule Date
Basis of Allotment 14 Nov 2025
Refunds 17 Nov 2025
Credit to Demat Account 17 Nov 2025
IPO Listing Date 18 Nov 2025

Profit & Loss (All Figures in Cr. Adjusted EPS in Rs.)

PARTICULARS Mar 2023 Mar 2024 Mar 2025
Net Sales 734.76 1536.48 2333.98
Total Expenditure 744.38 2412.55 2260.66
Operating Profit -9.62 -876.07 73.32
Other Income 29.1 78.72 161.63
Interest 20.5 59.05 77.07
Depreciation 80.05 211.29 266.77
Exceptional Items 0 -63.39 -41.58
Profit Before Tax -81.07 -1131.07 -150.46
Provision for Tax -4.28 -60.1 -14.84
Net Profit -76.79 -1070.98 -135.62
Adjusted EPS (Rs.) -0.04 -0.5 -0.06

Balance Sheet (All Figures are in Crores.)

Particulars Mar 2023 Mar 2024 Mar 2025
Equity and Liabilities
Share Capital 6 6 1052.84
Total Reserves 89.14 -866.16 919.78
Borrowings 925 1648.45 0
Other N/C liabilities 376.1 633.72 898.81
Current liabilities 451.18 876.97 1227.66
Total Liabilities 1847.43 2298.98 4099.09
Assets
Net Block 585.13 934.82 1121.21
Capital WIP 4.76 0 6.56
Intangible WIP 0.48 0.32 2.76
Investments 288.32 371.64 487.51
Loans & Advances 67.77 166.43 214.99
Other N/C Assets 132.02 180.29 114.88
Current Assets 768.96 645.47 2151.19
Total Assets 1847.43 2298.98 4099.09
* Other Non-current Liabilities include Net deferred Liabilities

Share Holding Pattern

Promoter Pledging %

Date Promoter % Pledge %
Nov 2025 72.3 0
Sep 2025 72.3 0
* Figures given above are % of equity capital

Cash Flows (All Figures are in Crores.)

PARTICULARS Mar 2023 Mar 2024 Mar 2025
Profit from operations -81.07 -1131.07 -150.46
Adjustment 180.95 1133.02 445.54
Changes in Assets & Liabilities 191.47 298.34 180.58
Tax Paid -24.44 -5.51 -5.01
Operating Cash Flow 266.91 294.77 470.65
Investing Cash Flow -1092.14 -149.69 -1515.27
Financing Cash Flow 849.52 -147.7 1038.92
Net Cash Flow 24.28 -2.62 -5.7

PhysicsWallah IPO: Date, Share Price, Review & Details

PhysicsWallah, a prominent Indian ed-tech platform, has filed its updated Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its upcoming Initial Public Offering (IPO). The company, founded by Alakh Pandey and Prateek Maheshwari, has grown from a YouTube channel into a major player in the education sector, offering a wide range of courses both online and offline.

About PhysicsWallah

PhysicsWallah provides affordable and high-quality educational content, primarily for students preparing for competitive exams like JEE and NEET. The company has expanded its offerings to include courses for various other exams and has established a significant presence with both online platforms and physical coaching centers. As of fiscal year 2025, PhysicsWallah had 4.46 million paid users, demonstrating a strong growth trajectory. The company is backed by notable investors such as Westbridge Capital and Lightspeed Venture Partners.

PhysicsWallah IPO Details (2025)

  • IPO Dates: The official dates for the IPO are yet to be announced. The company filed its updated draft papers with SEBI in September 2025, after receiving regulatory approval in July 2025.

  • Issue Size: The IPO aims to raise approximately Rs 3,820 crore, which includes a fresh issue of equity shares worth Rs 3,100 crore and an Offer for Sale (OFS) of shares amounting to Rs 720 crore by the promoters.

  • Promoter Offer: Co-founders Alakh Pandey and Prateek Maheshwari will each offload shares worth Rs 360 crore through the OFS. They both currently hold a 40.35% stake in the company.

  • Listing: The shares are proposed to be listed on both the BSE and NSE. The listing date is yet to be announced.

Use of IPO Proceeds

The funds raised from the fresh issue will be utilised for several strategic initiatives, including:

  • Expansion of Offline Centers: A significant portion of the proceeds will be used for the fit-outs of new offline and hybrid centers (Rs 460.5 crore) and for lease payments of existing centers (Rs 548.3 crore).

  • Investment in Subsidiaries: The company plans to invest in its subsidiaries, Xylem Learning Private Limited (Rs 47.1 crore) and Utkarsh Classes & Edutech Private Limited (Rs 33.6 crore for lease payments and Rs 26.5 crore for acquiring additional stake).

  • Technology and Marketing: Funds will also be allocated for enhancing server and cloud infrastructure (Rs 200.1 crore) and for marketing initiatives (Rs 710 crore).

  • Inorganic Growth: A portion of the proceeds will be used for unidentified acquisitions and general corporate purposes.

Financial Performance

PhysicsWallah has shown impressive financial growth. For the fiscal year 2025, the company's revenue from operations surged by 48.74% to Rs 2,886.6 crore. The company also managed to reduce its net loss during the same period, indicating improved operational efficiency.

What You Can Find on This Page

This page provides a comprehensive overview of the PhysicsWallah IPO, including:

  • Live IPO Subscription Status: Track the subscription numbers once the IPO is open.

  • Grey Market Premium (GMP): Get the latest GMP updates to gauge market sentiment.

  • Allotment and Listing Information: Find out the allotment status and track the share price once it is listed.

  • Financial Data: Access detailed financial statements and key performance indicators from the company's DRHP.

  • Analyst Reviews: Read expert opinions and recommendations on whether to subscribe to the IPO.

Frequently Asked Questions (FAQs) about PhysicsWallah IPO

Q1: What is the issue size of the PhysicsWallah IPO?
The total IPO size is approximately Rs 3,820 crore, with a fresh issue of Rs 3,100 crore and an OFS of Rs 720 crore.

Q2: Who are the founders of PhysicsWallah?
The company was founded by Alakh Pandey and Prateek Maheshwari, who are also the promoters.

Q3: How will the IPO proceeds be used?
The funds will be used for expanding offline centers, investing in subsidiaries, upgrading technology, marketing, and for inorganic growth.

Q4: When will the PhysicsWallah IPO be launched?
The official dates have not been announced yet, but the company has filed its updated draft papers with SEBI, moving a step closer to the launch.

For the latest updates on the PhysicsWallah IPO, including dates, price band, and other details, keep visiting this page.

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