PhysicsWallah IPO Set to Open on November 11: What You Need to Know

Education technology company PhysicsWallah on Wednesday announced the filing of its Red Herring Prospectus (RHP) for an initial public offering (IPO) worth ₹3,480 crore. The offer includes a fresh issue of ₹3,100 crore and an offer for sale (OFS) of ₹380 crore by promoters Alakh Pandey and Prateek Boob.

PhysicsWallahIPO is set to open on November 11 and close on November 13. The book running lead managers for the issue are Kotak Mahindra Capital, JP Morgan India, Goldman Sachs India Securities, and Axis Capital.

Promoter and Investor Holdings

According to the RHP, promoters Alakh Pandey and Prateek Boob each hold a 40.31% stake in PhysicsWallah. Key institutional investors include:

• WestBridge AIF – 6.40%
• Hornbill Capital Partners – 4.41%
• GSV Ventures Fund – 2.85%
• Lightspeed Opportunity Fund – 1.79%
• Setu AIF Trust – 1.39%

Use of IPO Proceeds

PhysicsWallah plans to deploy the majority of the IPO proceeds to support growth and infrastructure development. Marketing initiatives are expected to receive ₹710 crore, while lease payments for existing offline and hybrid centres will account for ₹548.3 crore. The company also intends to allocate ₹460.5 crore for the expansion of offline centres. 

Additionally, ₹200.1 crore will be directed towards server and cloud infrastructure, ₹47.2 crore for investment in subsidiary Xylem Learning, ₹28 crore for lease payments at Utkarsh Classes and Edutech centres, and ₹26.5 crore for acquiring additional stakes in these subsidiaries.

Also Read: NSE IPO: Exchange Sets Aside ₹13 Billion for Regulatory Settlements

PhysicsWallah Financial Performance

PhysicsWallah has reported impressive growth in recent periods. During Q1 FY26 (April–June), the company’s revenue stood at ₹847 crore, up 33.3% from ₹635.2 crore in the same quarter last year. Annual revenue grew 48.7%, rising from ₹1,940.7 crore in FY24 to ₹2,886.6 crore in FY25.

Disclaimer: This blog has been written exclusively for educational purposes. The securities mentioned are only examples and not recommendations. This does not constitute a personal recommendation/investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions. 

Investments in the securities market are subject to market risks, read all the related documents carefully before investing.