PhysicsWallah IPO Date, Review, Price, Allotment Details
PhysicsWallah IPO is set to open on November 11, 2025 and close on November 13, 2025. It is a Book Built Issue, through which the company aims to raise approximately ₹3,480 crores. This includes a fresh issue of ₹3,100 crores and an offer for sale of 3,48,62,385 equity shares with a face value of ₹1 each.
The PhysicsWallah IPO price band is expected to be ₹103 to ₹109 per share. The issue allocation consists of 10% for retail investors, 75% for Qualified Institutional Buyers (QIBs), and 15% for High Net-worth Individuals (HNIs). The IPO is proposed to be listed on both BSE and NSE in 2025, with the allotment date scheduled for 2025.
In terms of financial performance, the company reported revenue of ₹3,039.09 crores in 2025, compared to ₹2,015.35 crores in 2024. Moreover, the company’s loss reduced to ₹243.26 crores in 2025 from ₹1,131.13 crores in 2024, reflecting strong operational improvement.
Considering the company’s robust revenue growth and improving financial position, long-term investors may find this IPO worth applying for.
PhysicsWallah IPO Details
IPO Open Date November 11, 2025 IPO Close Date November 13, 2025 Face Value ₹1 Per Equity Share IPO Price Band November 13, 2025 Issue Size Approx ₹3,820 Crores Fresh Issue Approx ₹3,100 Crores Offer for Sale: Approx 3,48,62,385 Equity Shares Issue Type Book Built Issue IPO Listing BSE, NSE DRHP Draft Prospectus 
PhysicsWallah IPO Market Lot
The PhysicsWallah IPO minimum market lot is 137 shares with a ₹14,933 application amount. The retail investors can apply for up to 13 lots with 1,781 shares of ₹1,94,129 amount.
Application Lot Size Shares Amount Retail Minimum 1 137 ₹14,933 Retail Maximum 13 1,781 ₹1,94,129 S-HNI Minimum 14 1,918 ₹2,09,062 S-HNI Maximum 66 9,042 ₹9,85,578 B-HNI Minimum 67 9,179 ₹10,00,511
IPO Reservation
| Investor Category | Share Offered | -% Shares |
| Anchor Investor | – Shares | -% |
| QIB (Ex. Anchor) | 9,55,38,505 Shares | 75% |
| NII Shares Offered | 4,77,83,848 Shares | 15% |
| Retail Shares Offered | 3,18,55,898 Shares | 10% |
| Employee Shares Offered | 7,07,071 Shares | -% |
PhysicsWallah IPO Anchor Investors
Anchor Bidding Date 2025 Anchor Investors List Shares Offered 7,95,48,091 Shares Anchor Size
1562.85 Cr.Lock-in period end date 50% shares (30 Days) December 14, 2025 Lock-in period end date 50% shares (90 Days) February 12, 2026
PhysicsWallah IPO Dates
The PhysicsWallah IPO is scheduled to open on November 11, 2025 and close on November 13, 2025. The IPO allotment is expected to be finalized on November 14, 2025, with the company’s shares set to be listed on the stock exchanges on November 18, 2025.
IPO Open Date: November 11, 2025 IPO Close Date: November 13, 2025 Basis of Allotment: November 14, 2025 Refunds: November 17, 2025 Credit to Demat Account: November 17, 2025 IPO Listing Date: November 18, 2025 IPO Bidding Cut-off Time: November 13, 2025 – 5 PM
Promoters and Holding Pattern
The promoters of PhysicsWallah are Alakh Pandey and Prateek Boob, who have played a key role in establishing and growing the company into one of India’s leading edtech platforms.
Particular Shares % Share Promoter Holding Pre Issue 2,60,79,56,938 81.64% Promoter Holding Post Issue 2,89,23,60,607 73.61%
Objects of the Issue & Utilisation of Proceeds
Purpose Crores Capital expenditure for fit-outs of new offline and hybrid centers of our Company 460.55 Expenditure towards lease payments of existing identified offline and hybrid centers operated by our Company 548.31 Capital expenditure for fit-outs of new offline centers of Xylem 31.65 Lease payments for Xylem’s existing identified offline centers and hostels 15.52 Investment in our Subsidiary, Utkarsh Classes & Edutech Private Limited for expenditure towards lease payments for Utkarsh Classes’ existing identified offline centers 33.70 Expenditure towards server and cloud related infrastructure costs 200.11 Expenditure towards marketing initiatives 710.00 Acquisition of additional shareholding in our Subsidiary, Utkarsh Classes & Edutech Private Limited 26.50 Funding inorganic growth through unidentified acquisitions and general corporate purposes
About PhysicsWallah IPO
PhysicsWallah is one of India’s leading edtech companies, offering a wide range of test preparation courses for competitive exams such as JEE, NEET, and UPSC, along with various upskilling programs. The company operates through multiple channels — online platforms like its website, mobile apps, and social media handles; tech-enabled offline centers with live classes; and hybrid centers that blend both learning modes. Among the top five education companies in India, PhysicsWallah ranks as the largest in terms of revenue. Its popular YouTube channel, “Physics Wallah – Alakh Pandey,” has around 13.7 million subscribers as of July 15, 2025, serving as a major platform for accessible and affordable learning.
Focused on building a strong student community, PhysicsWallah emphasizes high-quality and engaging education powered by technology. Most of its courses and materials are available online, making learning convenient and cost-effective for students across the country. As of FY25, the company has 4.13 million online learners and 0.33 million offline students, operates 198 offline centers, employs 15,775 staff members including 5,096 teachers, and has published 3,582 books, reflecting its strong growth and commitment to transforming India’s education landscape.
PhysicsWallah IPO Company Financial Report
Amount in Crores (₹)
Period Ended Revenue Expense PAT Assets 2023 ₹772.54 ₹861.99 ₹84.08 ₹2,082.18 2024 ₹2,015.35 ₹3,279.26 ₹1,131.13 ₹2,480.74 2025 ₹3,039.09 ₹3,264.85 ₹243.26 ₹4,156.38 June 2025 ₹905.41 ₹1,057.48 ₹127.01 ₹5,075.67
PhysicsWallah IPO Valuation – FY2025
Check PhysicsWallah IPO valuation details like Earnings Per Share (EPS), Price/Earnings (P/E) Ratio, Return on Net Worth (RoNW), and Net Asset Value (NAV) details.
KPI Values ROE: (12.50)% ROCE: -% EBITDA Margin: 6.69% PAT Margin: (8.43)% Debt to equity ratio: – Earning Per Share (EPS): ₹(0.86) (Basic) Price/Earning (P/E) Ratio: N/A Return on Net Worth (RoNW): (12.50%) Net Asset Value (NAV): ₹7.73
IPO Lead Managers aka Merchant Bankers
- Kotak Mahindra Capital Co. Ltd.
- JP Morgan India Pvt. Ltd
- Goldman Sachs (India) Securities Pvt. Ltd.
- Axial Capital Pvt. Ltd.
Company Address
PhysicsWallah Ltd.
B 8, Block B,
Industrial Area, Sector 62,
Noida, Uttar Pradesh 201309
Noida, Uttar Pradesh, 201309
Phone: +91 9289926531
Email: investorsrelation@pw.live
Website: https://www.pw.live/
IPO Registrar
MUFG Intime India Pvt. Ltd.
Phone: +91-22-4918 6270
Email: physicswallah.ipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html