PhysicsWallah Sets IPO Price Band at ₹103–₹109 Per Share, Eyes ₹3,480 Cr Fundraise
New Delhi, Nov 6: Edtech giant PhysicsWallah has announced the price band for its much-awaited Initial Public Offering (IPO) at ₹103–₹109 per share, targeting to raise ₹3,480 crore and secure a valuation exceeding ₹31,500 crore at the upper end.
The IPO will open for subscription from November 11 to November 13, with anchor investor allocation on November 10, the company said in its public announcement.
The public issue includes a fresh issue of ₹3,100 crore and an offer-for-sale (OFS) of ₹380 crore, with promoters Alakh Pandey and Prateek Boob each offloading shares worth ₹190 crore. Both currently hold 40.31% stakes in the company.
PhysicsWallah, backed by WestBridge Capital, Hornbill, and GSV Ventures, plans to use the IPO proceeds to fuel expansion, enhance infrastructure, and strengthen its offline presence.
Key fund allocations include:
- ₹460.5 crore for new offline and hybrid centers,
- ₹548.3 crore for lease payments of existing centers,
- ₹47.2 crore for subsidiary Xylem Learning,
- ₹33.7 crore for Utkarsh Classes and Edutech leases,
- ₹710 crore for marketing initiatives,
- ₹200.1 crore for cloud and server infrastructure.
The Noida-based firm, known for its popular YouTube channel Physics Wallah – Alakh Pandey (13.7M subscribers), has built a vast educational ecosystem offering test prep for JEE, NEET, UPSC, and GATE, along with upskilling programs through online and hybrid formats.
Financially, the company reported a strong turnaround — narrowing losses to ₹243 crore in FY25 from ₹1,131 crore in FY24, while revenue surged to ₹2,887 crore from ₹1,941 crore.
As per the company’s filing, 75% of the issue is reserved for Qualified Institutional Buyers (QIBs), 15% for Non-Institutional Investors (NIIs), and 10% for Retail Investors.
PhysicsWallah’s stock market debut is scheduled for November 18.
