PhysicsWallah IPO Details
SEBI has granted its approval to the Initial Public Offer (IPO) of PhysicsWallah Ltd. on July 18, 2025. The company will now proceed with the next steps to launch its IPO, subject to market conditions and other regulatory clearances. The approval remains valid for 12 months.
The PhysicsWallah Ltd. IPO is a Book-Build Issue of Rs. 3,820 crore, comprising a fresh issue of Rs. 3,100 crore and an offer for sale (OFS) of Rs. 720 crore. The equity shares are proposed to be listed on NSE and BSE. Kotak Mahindra Capital Co. Ltd. is the Book Running Lead Manager, and MUFG Intime India Pvt. Ltd. is the Registrar to the issue. Key details such as price band, lot size, and IPO dates will be announced in due course.
đź•— Last Update: 16 October 2025, 6.00 AM
 IPO Key Dates
| IPO Opens on | Oct, 2025 |
| IPO Closes on | Oct, 2025 |
| Allotment on | Oct, 2025 |
| Initiation of Refunds | Oct, 2025 |
| Credit of Shares | Oct, 2025 |
| Listing Date | Oct, 2025 |
 Subscription updates:
The promoters
Alakh Pandey and Prateek Boob are the company promoters.
The promoters hold 96.13 % shares in the pre-IPO capital of the company.
Objects of IPO
The IPO consists fresh issue of capital and an offer for sale
| Objects of the Issue | Rs. in 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 | 33.7 |
| Expenditure towards server and cloud related infrastructure costs | 200.11 |
| Expenditure towards marketing initiatives | 710 |
| Acquisition of additional shareholding in our Subsidiary, Utkarsh Classes & Edutech Private Limited | 26.5 |
| Funding inorganic growth through unidentified acquisitions and general corporate purposes | Â |
Business :
IPO Details
| Opens On | ? October 2025 |
| Closes on | ? October 2025 |
| Face Value | Rs.1 |
| Issue Price Band | Rs.? |
| Lot Size | ? Shares |
| Sale Type | Fresh issue & Offer for Sale |
| Total Issue Size | ? shares |
| Total Issue Size | Rs. 3820 Cr |
| Employee Discount | Rs. 0 |
| Shareholder Discount | Rs. 0 |
| Listing At | BSE, NSE |
How are the shares offered?
| Investor Category | Shares Offered |
| QIB Shares Offered | Not less than 75% of the Net Offer |
| Retail Shares Offered | Not more than 10% of the Net Offer |
| NII Shares Offered | Not more than 15% of the Net Offer |
How Shares can be applid?
| Application | Lots | Shares | Amount Rs. |
| Retail (Min) | Â | Â | Â |
| Retail (Max) | Â | Â | Â |
| S-HNI (Min) | Â | Â | Â |
| S-HNI (Max) | Â | Â | Â |
| B-HNI (Min) | Â | Â | Â |
How to check Allotment Status
Allotment of this IPO will be announced on ? October 2025 and the link to check allotment is given below:
https://linkintime.co.in/Initial_Offer/public-issues.html
| Registered Office of the company PhysicsWallah Ltd. B 8, Block B, Industrial Area, Sector 62, Noida, Uttar Pradesh 201309 Noida, Uttar Pradesh, 201309 Email: investorsrelation@pw.live |
|
| The Lead Managers Kotak Mahindra Capital Co.Ltd.  JP Morgan India Pvt.Ltd.  Goldman Sachs (India) Securities Pvt.Ltd.  Axial Capital Pvt.Ltd.  |
|
| Registrar to IPO | |
| Mufg Intime India Pvt ltd |
Financial Snapshot
| Period Ended | 31-Mar-25 | 31-Mar-24 | 31-Mar-23 |
| Assets | 4,156.38 | 2,480.74 | 2,082.18 |
| Total Income | 3,039.09 | 2,015.35 | 772.54 |
| Profit After Tax | -243.26 | -1,131.13 | -84.08 |
| EBITDA | 193.2 | -829.35 | 13.86 |
| NET Worth | 1,945.37 | -861.79 | 62.29 |
| Reserves and Surplus | 467.06 | -1,254.74 | -187.65 |
| Total Borrowing | 0.33 | 1,687.40 | 956.15 |
| Amount in Rs. Crore | |||
Key Performance Indicators
| KPI | Values |
| RoNW | -12.50% |
| PAT Margin | -8.43% |
| EBITDA Margin | 6.69% |
Â
Peer Comparison
Â
IPO Concise Review by Paresh Gordhandas, CA & Research Analyst
Chanakya has strong following because of its IPO reviews. We shall update our review for this IPO, once the price band and latest results are available.
PhysicsWallah IPO dates
PhysicsWallah IPO price & Lot
Quick Links
Quicklinks
# This is only coverage of News related to Grey Market. We do not deal in grey market premium, nor we recommend dealing in Grey Market. Investment decision based on Grey Market trends can be faulty.
