Physicswallah IPO to open on Nov 11; check price band, issue size & more
Physicswallah. is set to launch its initial public offering (IPO), opening for subscription on Tuesday, 11 November, and closing on Thursday, 13 November.
- Nov 6, 2025,
- Updated Nov 6, 2025 9:18 AM IST
Physicswallah. is set to launch its initial public offering (IPO), opening for subscription on Tuesday, 11 November, and closing on Thursday, 13 November. The price band is set at Rs 103 to Rs 109 per share.
The offering includes a fresh issue of shares worth Rs 3,100 crore, along with an Offer For Sale (OFS) component of Rs 380 crore, bringing the total issue size to Rs 3,480 crore. Retail investors can apply for one lot of 137 shares, requiring a minimum investment of Rs 14,933. Eligible employees will receive a discount of Rs 10 per share.
Out of the total issue, 75% has been allocated to Qualified Institutional Bidders (QIBs), 10% to retail investors, and the remainder to other categories, following recent IPO trends. Bidding above the minimum lot can be made in multiples of 137 shares. The post-issue market capitalisation is estimated to be Rs 31,169 crore at the upper end of the price band.
Book Running Lead Managers for the issue are Kotak Capital, JPMorgan India, Goldman Sachs (India), and Axis Capital. Allotment of shares is scheduled for 14 November, with listing on the bourses likely on 18 November. Major existing investors in Physicswallah include WestBridge Capital, GSV Ventures, Hornbill Capital, and Lightspeed Venture Partners.
Promoter holding is expected to decrease to 72.3% post-IPO from the current 81.6%. The company has set aside a portion of shares specifically for eligible employees, providing them with a per-share discount to encourage participation.
Physicswallah was founded by Alakh Pandey in 2016, initially as a YouTube channel offering free educational content. The platform saw rapid growth during the Covid-19 pandemic, expanding into a major edtech provider now operating 303 offline centres across 152 cities in India and the Middle East, reflecting its transition from online to physical presence.
Physicswallah. is set to launch its initial public offering (IPO), opening for subscription on Tuesday, 11 November, and closing on Thursday, 13 November. The price band is set at Rs 103 to Rs 109 per share.
The offering includes a fresh issue of shares worth Rs 3,100 crore, along with an Offer For Sale (OFS) component of Rs 380 crore, bringing the total issue size to Rs 3,480 crore. Retail investors can apply for one lot of 137 shares, requiring a minimum investment of Rs 14,933. Eligible employees will receive a discount of Rs 10 per share.
Out of the total issue, 75% has been allocated to Qualified Institutional Bidders (QIBs), 10% to retail investors, and the remainder to other categories, following recent IPO trends. Bidding above the minimum lot can be made in multiples of 137 shares. The post-issue market capitalisation is estimated to be Rs 31,169 crore at the upper end of the price band.
Book Running Lead Managers for the issue are Kotak Capital, JPMorgan India, Goldman Sachs (India), and Axis Capital. Allotment of shares is scheduled for 14 November, with listing on the bourses likely on 18 November. Major existing investors in Physicswallah include WestBridge Capital, GSV Ventures, Hornbill Capital, and Lightspeed Venture Partners.
Promoter holding is expected to decrease to 72.3% post-IPO from the current 81.6%. The company has set aside a portion of shares specifically for eligible employees, providing them with a per-share discount to encourage participation.
Physicswallah was founded by Alakh Pandey in 2016, initially as a YouTube channel offering free educational content. The platform saw rapid growth during the Covid-19 pandemic, expanding into a major edtech provider now operating 303 offline centres across 152 cities in India and the Middle East, reflecting its transition from online to physical presence.