PhysicsWallah is going public with an IPO opening for subscription on November 11, 2025 and closing on November 13, 2025 for public investors.
The issue size is roughly ₹3,480 crore (₹3,100 crore fresh issue + ₹380 crore offer for sale).
The price band is set at ₹103–₹109 per share.
At the upper end of the band, the company’s implied post-money valuation is around ₹31,500 crore.
Key Dates & Lot Sizes
- Anchor investors‐book opens: November 10, 2025.
- Public subscription window: November 11–13, 2025.
- Basis of allotment likely: November 14, 2025
- Tentative listing date: November 18, 2025 on BSE/NSE. India Today
- Minimum retail investment: One lot = 137 shares, which at ₹109 price band would be ≈ ₹14,933.
Business Snapshot
PhysicsWallah started as a YouTube channel by Alakh Pandey and has grown into a major edtech company offering test-preparation (JEE/NEET), upskilling and hybrid/online/offline education.
Despite being in a challenging edtech environment, the company has maintained growth and is now seeking public market funding to accelerate expansion.
Why It Matters
- This IPO marks one of the major listings in India’s edtech sector, at a time when many such firms face headwinds.
- The large size (₹3,480 crore) and elevated valuation (~₹31,500 crore) show investor interest in new-age education business models.
- For retail investors, this is an opportunity to participate in a home-grown tech-education brand going public.
- For the overall market, the success (or otherwise) of this IPO will signal how receptive the public markets are to edtech listings in current conditions.
Risks & Considerations
- Valuation appears ambitious given sectoral headwinds — edtech firms globally and in India are under pressure.
- The business is still investing heavily (offline centres, hybrid models) which may pressure margins.
- Allotment is competitive: the lot size and minimum investment mean retail investors should ensure suitability.
- As with any IPO: listing gains are not guaranteed — risk of volatility post-listing exists.
What Investors Should Do
- Review the company’s Red-Herring Prospectus (RHP) for financials, risks, use of proceeds.
- Check how the fresh issue proceeds will be utilized (marketing, expansion of offline/hybrid centres, tech infrastructure).
- Compare with peer companies (edtech) to assess relative valuation and growth prospects.
- Decide investment amount in line with your risk appetite and portfolio diversification.
- Keep in mind timelines: allotment, listing date, lock-in of promoter shares etc.
Final Thoughts
PhysicsWallah’s IPO opens November 11 with strong market attention. The price band-range, issue size and the company’s growth story make it one of the marquee IPOs to watch this season. For investors, the potential upside may be attractive — but so are the risks. As always, informed decision-making is key.
