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Physicswallah Ltd

Physicswallah IPO

  • Status: Closed
  • RHP:
  • ₹ 14,111 / 137 shares

    Minimum Investment

IPO Listing Details

  • Listing Date

    18 Nov 2025

  • Listing Price

    ₹143.10

  • Listing Change

    31.28%

  • Last Traded Price

    ₹135.76

Physicswallah IPO Details

  • Open Date

    11 Nov 2025

  • Close Date

    13 Nov 2025

  • Listing Date

    18 Nov 2025

  • IPO Price Range

    ₹ 103 to ₹109

  • IPO Size

    ₹ 3480 Cr

  • Listing Exchange

    BSE NSE

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Timeline Financials SWOT FAQ Contacts

Physicswallah IPO Timeline

Physicswallah IPO Subscription Status

Last Updated: 13 November 2025 5:16 PM by 5paisa

PhysicsWallah, launching a ₹3,480.00 Cr IPO, is a leading Indian edtech company offering test preparation for exams like JEE, NEET, and UPSC, along with upskilling courses in fields such as data science, finance, and software development. Delivering education through online platforms, hybrid models, and 303 offline centres, it serves 4.46 million learners. With 13.7 million YouTube subscribers, 6,267 faculty, 18,028 employees, and 4,382 published books, PhysicsWallah ranks among India’s top five edtech firms by revenue. 

Established in: 2016 

Managing Director: Alakh Pandey 

 

Peers: 

No listed peer 

Physicswallah Objectives

1. The company will invest ₹460.55 crore in fit-outs for new offline and hybrid centres. 
2. ₹548.31 crore will be used for lease payments of existing offline and hybrid centres. 
3. Xylem will receive ₹31.65 crore for new offline centre fit-outs. 
4. ₹15.52 crore will go towards Xylem’s centre and hostel leases. 
5. ₹33.70 crore will be invested in Utkarsh Classes for lease payments. 
6. ₹200.11 crore will fund server and cloud infrastructure upgrades. 
7. ₹710 crore will be allocated to marketing initiatives. 
8. ₹26.50 crore will fund additional share acquisition in Utkarsh Classes. 
9. Funds will support future acquisitions and general corporate needs.

PhysicsWallah IPO Size

Types Size
Total IPO Size ₹3,480.00 Cr 
Offer For Sale ₹380.00 Cr 
Fresh Issue ₹3,100.00 Cr 

PhysicsWallah IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 137 14,111 
Retail (Max) 13 1,781 1,94,129
S-HNI (Min) 14 1,918 2,04,043
S-HNI (MAX) 66 9,042 9,85,578
B-HNI (Min) 67 9,179 9,45,437

PhysicsWallah IPO Reservation

Investors Category Subscription (times) Shares Offered* Shares bid for Total Amount (Cr.)*
QIB (Ex Anchor) 2.86     9,55,38,505     27,35,75,848    2,981.977
Non-Institutional Buyers 0.51     4,77,83,848     2,44,24,223     266.224
bNII (bids above ₹10L) 0.58     3,18,55,898     1,85,67,610     202.387
sNII (bids below ₹10L) 0.37     1,59,27,949     58,56,613     63.837
Retail Investors 1.14     3,18,55,898     3,63,72,678 396.462
Total** 1.92     17,58,85,322     33,69,99,450    3,673.294

 

*The "Shares Offered" and "Total Amount" are calculated using the upper limit of the issue price range.
**Shares allocated to anchor investors (or market makers) are excluded from the total number of shares offered.

Profit and Loss

Balance Sheet

Particulars FY23 FY24 FY25
Revenue (₹ Crores) 744.32 1,940.71 2,886.64
EBITDA (₹ Crores) 13.86 -829.35 193.20
PAT (₹ Crores) -84.08 -1,131.13 -243.26
Particulars FY23 FY24 FY25
Total Assets (₹ Crores) 2,082.18 2,480.74 4,156.38
Share Capital (₹ Crores) 6.00 6.00 218.39
Total Liabilities (₹ Crores) 2,132.34 3,652.96 2,602.87
Cash Flows (₹ Crores) FY23 FY24 FY25
Net Cash Generated From / (used in) Operating Activities 270.00 212.03 506.90
Net Cash Generated From / (used in) Investing Activities -1,075.52 -42.93 -1,513.22
Net Cash Generated From / (used in) Financing Activities 847.60 -164.65 1,006.76
Net Increase (Decrease) in Cash and Cash Equivalents 42.09 4.45 0.44


Strengths

1. Strong brand presence with 13.7M YouTube subscribers. 
2. Diverse course portfolio across 13 education categories. 
3. Expanding offline network with 303 hybrid centres. 
4. Affordable pricing attracts wide student demographics. 

Weaknesses

1. Heavy reliance on online subscription revenue streams. 
2. High operating costs from offline centre expansion. 
3. Intense competition in the Indian edtech sector. 
4. Limited international reach compared to global rivals.

Opportunities

1. Growing demand for hybrid learning post-pandemic. 
2. Expansion into new upskilling and vocational courses. 
3. Potential partnerships with schools and universities. 
4. Rising edtech adoption in tier-II and III cities. 

Threats

1. Regulatory changes affecting online education models. 
2. Market saturation among test-prep providers in India. 
3. Rapid technological shifts increasing infrastructure costs. 
4. Economic downturns reducing discretionary spending on education. 

1. Strong brand presence and loyal student community. 
2. Expanding hybrid model ensures scalable, sustainable growth. 
3. Consistent profitability with diversified revenue streams. 
4. Increasing demand for affordable, quality education solutions. 

PhysicsWallah stands as one of India’s fastest-growing edtech companies, combining affordable education with wide digital reach and expanding offline infrastructure. Its consistent profitability, diverse course portfolio, and 13.7 million YouTube subscribers highlight strong market trust. With ongoing investments in hybrid learning, technology, and marketing, PhysicsWallah is well-positioned to capture future growth opportunities in the evolving education and upskilling landscape. 

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FAQs

PhysicsWallah IPO opens from November 11, 2025 to November 13, 2025.

The size of  PhysicsWallah IPO is ₹3,480.00 Cr.

The price band of  PhysicsWallah IPO is fixed at ₹103 to ₹109 per share.

To apply for  PhysicsWallah IPO, follow the steps given below: 

●    Login to your 5paisa demat account and select the issue in the current IPO section     
●    Enter the number of lots and the price at which you wish to apply for the PhysicsWallah. IPO.     
●    Enter your UPI ID and click on submit. With this, your bid will be placed with the exchange.     

You will receive a mandate notification to block funds in your UPI app.

The minimum lot size of  PhysicsWallah IPO is of 137 shares and the investment required is ₹14,111.

The share allotment date of  PhysicsWallah IPO is November 14, 2025.

The  PhysicsWallah IPO will likely be listed on November 18, 2025.

Kotak Mahindra Capital Co.Ltd is the book running lead managers for  PhysicsWallah IPO.

PhysicsWallah IPO plans to utilise the raised capital from the IPO for: 

1. The company will invest ₹460.55 crore in fit-outs for new offline and hybrid centres. 
2. ₹548.31 crore will be used for lease payments of existing offline and hybrid centres. 
3. Xylem will receive ₹31.65 crore for new offline centre fit-outs. 
4. ₹15.52 crore will go towards Xylem’s centre and hostel leases. 
5. ₹33.70 crore will be invested in Utkarsh Classes for lease payments. 
6. ₹200.11 crore will fund server and cloud infrastructure upgrades. 
7. ₹710 crore will be allocated to marketing initiatives. 
8. ₹26.50 crore will fund additional share acquisition in Utkarsh Classes. 
9. Funds will support future acquisitions and general corporate needs.