PhysicsWallah Ltd. IPO
Issue Price
₹109
GMP
—
Lot Size
137
Face Value
₹1
Issue Size
319,266,054 shares (aggregating up to ₹3,480 Cr)
Subscription
—
IPO Timeline
Open Date11-Nov-25
Close Date13-Nov-25
Allotment14-Nov-25
Refund Initiation17-Nov-25
Demat Credit17-Nov-25
UPI Mandate Deadline13-Nov-25
Listing Date18-Nov-25
Lock-in (30%)14-Dec-25
Lock-in (50%)12-Feb-26
Category-wise Subscription
| Category | Sub (x) | Offered | Bid For | Amt (Cr)* |
|---|---|---|---|---|
| QIB | — | 238,919,238 (75%) | — | ₹260,422 Cr |
| NII (HNI) | — | 47,783,848 (15%) | — | ₹52,084 Cr |
| Retail | — | 31,855,898 (10%) | — | ₹3,472 Cr |
| Employee | — | 707,071 (0%) | — | ₹77 Cr |
| Σ Total | — | 319,266,055 (100%) | — | ₹3,480,000 Cr |
Only available investor categories are shown. Amount is auto-calculated when shares offered and issue price are available.
Issue Details
Issue Price / Price Band₹109
Face Value₹1
Lot Size137 shares
Issue Size319,266,054 shares (aggregating up to ₹3,480 Cr)
Issue TypeBookbuilding IPO
Listing ExchangeNSE & BSE
Sale TypeFresh Capital-cum-Offer for Sale
Script Code—
Fresh Issue284,403,669 shares (aggregating up to ₹3,100 Cr)
Offer for Sale34,862,385 shares of ₹1 (aggregating up to ₹380 Cr)
Net Offer to Public—
Amount In₹ Crore
Stock Price History · BSE
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Yahoo Finance · Live
Minimum Investment (Lot-wise)
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 137 | ₹14,933 |
| Retail (Max) | 13 | 1,781 | ₹194,129 |
| S-HNI (Min) | 14 | 1,918 | ₹209,062 |
| B-HNI (Min) | 67 | 9,179 | ₹1,000,511 |
Retail1 lot(s)137 shares₹14,933
Financial Statements Amount in ₹ Crore
| Metric | 30 Jun 2025 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Revenue | 905 | 3,039 | 2,015 |
| EBITDA | -21 | 193 | -829 |
| Profit After Tax | -127 | -243 | -1,131 |
| Net Worth | 1,868 | 1,945 | -862 |
| Total Assets | 5,076 | 4,156 | 2,481 |
| Reserves & Surplus | 788 | 467 | -1,255 |
| Total Borrowing | 2 | 0 | 1,687 |
Valuation & Key Ratios
ROE—
ROCE—
RONW-13%
PAT Margin-8%
EBITDA Margin7%
Debt/Equity—
P/BV14
Pre EPS₹-1
Post EPS₹-2
Pre P/E-117
Post P/E-62
Grey Market Premium (GMP)
—
Current GMP
GMP is an unofficial grey market indicator and does not guarantee actual listing price. Invest at your own risk.
Objects of the Issue
- 1 Capital expenditure for fit-outs of new offline and hybrid centers of our Company – 460.55
- 2 Expenditure towards lease payments of existing identified offline and hybrid centers operated by our Company – 548.31
- 3 Capital expenditure for fit-outs of new offline centers of Xylem – 31.65
- 4 Lease payments for Xylem’s existing identified offline centers and hostels – 15.52
- 5 Investment in our Subsidiary, Utkarsh Classes & Edutech Private Limited for expenditure towards lease payments for Utkarsh Classes’ existing identified offline centers – 33.70
- 6 Expenditure towards server and cloud related infrastructure costs – 200.11
- 7 Expenditure towards marketing initiatives – 710.00
- 8 Acquisition of additional shareholding in our Subsidiary, Utkarsh Classes & Edutech Private Limited – 26.50
- 9 Funding inorganic growth through unidentified acquisitions and general corporate purposes – 941.15
Company Overview
Physicswallah is an edtech company offering test preparation courses for various competitive examinations like JEE, NEET, UPSC, etc. and upskilling courses like Data science and analytics, banking and finance, software development, etc. It offers online services via social media channels, website and apps and also offers techenabled offline centers and hybrid centers. It is among the top 5 edtech companies in terms of revenues in India and has 13.7 million subscribers on YouTube as of July 15, 2025.
Key Numbers:
- 4.13 million Unique Transacting users (Online) and 0.33 million students enrolled for offline centers.
- Average collection per user: 3,930.55 as of June 30, 2025
- Multiple courses across 13 education categories
- 303 total offline centers as of June 30, 2025
- 6,267 Faculty members as of June 30, 2025
- 18,028 employees as of June 30, 2025
- 4382 books published
Competitive strengths
- 4.46 million Total Number of Paid Users in Fiscal 2025, grew at a CAGR of 59.19% from fiscal 2023 to 2025
- Presence across a large number of education categories in India with courses offered through multiple channel
- Proprietary technology-stack enhances students’ learning experience
- Specialized faculty members across categories, quality content and well-planned curriculum
- Experienced management team led by our visionary founders
Company Information
AddressB 8, Block B, Industrial Area, Sector 62, Noida, Uttar Pradesh, 201309
Phone+91 9289926531
Websitehttps://www.pw.live/