PhysicsWallah IPO: Price band set at ₹103-109 per share; check key dates, issue details, more

PhysicsWallah IPO price band has been fixed in the range of ₹103 to ₹109 per equity share of the face value of Re 1. The PhysicsWallah IPO date of subscription is scheduled for Tuesday, November 11 and will close on Thursday, November 13. The allocation to anchor investors for the PhysicsWallah IPO is scheduled to take place on Monday, November 10.

The floor price is 103 times of the face value of the equity shares and the cap price is 109 times of the face value of the equity shares. The PhysicsWallah IPO lot size is 137 equity shares and in multiples of 137 equity shares thereafter.

PhysicsWallah IPO has reserved not less than 75% of the shares in the public issue for qualified institutional buyers (QIB), not more than 15% for non-institutional Institutional Investors (NII), and not more than 10% of the offer is reserved for retail investors. The employees have been reserved up to ₹70 million worth shares.

Tentatively, PhysicsWallah IPO basis of allotment of shares will be finalised on Friday, November 14, and the company will initiate refunds on Monday, November 17, while the shares will be credited to the demat account of allottees on the same day following refund. PhysicsWallah share price is likely to be listed on BSE and NSE on Tuesday, November 18.

PhysicsWallah IPO details

PhysicsWallah IPO includes fresh equity share issuance valued at ₹3,100 crore alongside a sale of shares (OFS) totaling up to ₹380 crore by the promoters, as indicated.

Promoters Alakh Pandey and Prateek Boob will each sell shares amounting to ₹190 crore via the OFS. Currently, both hold a 40.31 percent stake in the firm.

According to PhysicsWallah, from the proceeds of the fresh issue, ₹460.5 crore will be allocated to the development of new offline and hybrid centres, while ₹548.3 crore will be assigned for lease payments for the current centres.

Additionally, the company plans to invest ₹47.2 crore in its subsidiary Xylem Learning, with ₹31.6 crore designated for new centres and ₹15.5 crore for lease payments and hostels.

Moreover, ₹33.7 crore will be allocated to Utkarsh Classes & Edutech for lease payments of its centres. Furthermore, ₹200.1 crore is set aside for server and cloud infrastructure, ₹710 crore for marketing efforts, and ₹26.5 crore for increasing its stake in Utkarsh Classes.

Kotak Mahindra Capital Company, J.P. Morgan India, Goldman Sachs (India) Securities, and Axis Capital have been engaged by the company to oversee its initial public offering.

Company Details

PhysicsWallah provides preparation courses for competitive exams such as JEE, NEET, GATE, and UPSC, as well as upskilling programs, available through online platforms (YouTube, website, and apps), tech-enabled offline centers, and hybrid centers that blend online teaching with in-person assistance.

As of July 15, 2025, its primary YouTube channel, Physics Wallah-Alakh Pandey, boasted approximately 13.7 million subscribers, while its total YouTube network reached 98.8 million subscribers by June 30, 2025, achieving a compound annual growth rate (CAGR) of 41.8% from FY23 to FY25. In addition to its robust digital presence, PhysicsWallah has established a considerable offline presence.

The company, which receives support from WestBridge Capital, Hornbill, and GSV Ventures, reduced its losses to ₹243 crore in the year ending March 2025, down from ₹1,131 crore in the prior year. Meanwhile, its revenue increased to ₹2,887 crore, up from ₹1,941 crore in the same timeframe.

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