Physicswallah is an edtech company offering test preparation courses for various competitive examinations, such as JEE, NEET, and UPSC, as well as upskilling classes in data science and analytics, banking and finance, and software development. It offers online services via social media channels, website, and apps, and also provides tech-enabled offline centers and hybrid centers. It is among the top 5 edtech companies in India in terms of revenue.
- Issue Opens: November 11, 2025
- Issue Closes: November 13, 2025
- Face Value: Rs 1 each
- Price Band: Rs 103 – 109 per share
- Lot Size: 137 Shares
- Listing: BSE NSE
The company opens its initial public offer of Equity Shares on Tuesday, 11th November 2025. The Anchor Investor Bidding Date is one working day before the bid/offer opening date, which is Monday, 10th November 2025. The Bid/ Offer Closing Date is Thursday, 13th November 2025.
The total offer size comprises of a fresh issue of equity shares of face value of ₹1 each aggregating up to ₹ 3480 Crores. The IPO includes a fresh issue of equity shares of face value ₹1 each aggregating up to ₹3100 Crores and an offer for sale of equity shares of face value ₹1 each aggregating up to ₹380 Crores. The price band of the issue is fixed at Rs. 103 to Rs. 109 per equity share.
The offer includes a discount of Rs. 10/- per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion. Bids can be made for a minimum of 137 Equity Shares and in multiples of 137 Equity Shares thereafter.
The company proposes to utilize the net proceeds from the issue towards multiple strategic objectives. Around ₹460.551 Crores is earmarked for capital expenditure on fit-outs of new offline and hybrid centers, while ₹548.308 Crores will go towards lease payments for existing identified centers operated by the company. An investment of ₹47.168 Crores is planned in its subsidiary, Xylem Learning Private Limited, including ₹31.648 Crores for setting up new offline centers (“New Xylem Centers”) and ₹15.520 Crores for lease payments of existing Xylem centers and hostels. A further ₹28.002 Crores will be invested in Utkarsh Classes & Edutech Private Limited to meet lease payment obligations for its existing offline centers. Additionally, ₹200.106 Crores is allocated towards server and cloud-related infrastructure, and ₹710 Crores towards marketing initiatives. The company also plans to spend ₹26.5 Crores to acquire an additional shareholding in its subsidiary, Utkarsh Classes & Edutech Private Limited. The remaining proceeds will be utilized for funding inorganic growth through unidentified acquisitions and for general corporate purposes.
