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Physicswallah Limited IPO | Important Dates, Price, and More
Author
Shoonya Team
PhysicsWallah Limited has launched its ₹3,480 crore IPO, which opened for subscription on November 11, 2025. The issue will close on November 13, 2025. The shares are proposed to be listed on both BSE and NSE, with a tentative listing date of November 18, 2025.
The IPO is a book-built issue comprising a fresh issue of 28.44 crore equity shares aggregating to ₹3,100 crore and an offer for sale (OFS) of 3.49 crore shares worth ₹380 crore.
The price band is fixed between ₹103 and ₹109 per share, with a lot size of 137 shares. The minimum investment required for retail investors is ₹14,933. While sNII investors can apply for 1,918 shares (₹2,09,062), and bNII investors must apply for 9,179 shares (₹10,00,511).
Here are the quick steps to apply for the Physicswallah Limited IPO!
Physicswallah Limited | IPO Details
| IPO Details | Information |
| IPO Type | Book Built Issue |
| Issue Size | ₹3,480 crore (Fresh Issue + OFS) |
| Price Band | ₹103 – ₹109 per share |
| Face Value | ₹1 per share |
| Lot Size | 137 shares |
| Minimum Investment (Retail) | ₹14,933 |
| IPO Opening Date | November 11, 2025 |
| IPO Closing Date | November 13, 2025 |
| Allotment Date (Tentative) | November 14, 2025 |
| Listing Date (Tentative) | November 18, 2025 |
| Listing Exchange | BSE, NSE |
| Book Running Lead Manager | Kotak Mahindra Capital Co. Ltd. |
| Registrar to the Issue | MUFG Intime India Pvt. Ltd. |
| Employee Discount | ₹10 per share |
PhysicsWallah Limited | Company Overview
PhysicsWallah (PW) was founded by Alakh Pandey and Prateek Boob. It is one of India’s leading edtech companies, providing online and offline educational services for competitive exams and professional upskilling.
The company offers test-preparation courses for JEE, NEET, UPSC, and other exams, as well as career-focused programs in data science, finance, and software development. It operates through online platforms, mobile apps, and tech-enabled offline centres, delivering high-quality, affordable learning to millions of students.
As of July 15, 2025, PhysicsWallah had over 13.7 million YouTube subscribers, making it one of India’s most popular education channels. The company reported 4.13 million unique online transacting users and 0.33 million offline students. It operates 303 hybrid centres across India.
With 6,267 faculty members and over 18,000 employees, the company maintains a strong academic foundation and has published over 4,382 educational books. PhysicsWallah now ranks among the top five edtech companies in India by revenue, reflecting its strong brand presence and loyal student base.
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PhysicsWallah Limited IPO | Key Details
- IPO Opening Date: November 11, 2025
- IPO Closing Date: November 13, 2025
- Allotment Date: November 14, 2025
- Price Band: ₹103 – ₹109 per share
- IPO Size: ₹3,480 Crores (Fresh + OFS)
- Refunds Initiated: November 17, 2025
- Shares Credited to Demat: November 17, 2025
- Listing Date: November 18, 2025
- Cut-off Time for UPI Mandate Confirmation: 5 PM on November 13, 2025
PhysicsWallah Limited IPO | Financial Overview
PhysicsWallah Limited has shown remarkable growth in recent years, with revenue increasing by 51% year-on-year and profit after tax (PAT) improving by 78% between FY24 and FY25.
Here’s a snapshot of its financial performance:
Amounts in ₹ Crore.
| Detail | 30-Jun-25 | 31-Mar-25 | 31-Mar-24 | Change (FY25 vs FY24) | Change % |
| Assets | 5,075.67 | 4,156.38 | 2,480.74 | +1,675.64 | +67.5% |
| Total Income | 905.41 | 3,039.09 | 2,015.35 | +1,023.74 | +50.8% |
| Profit After Tax (PAT) | -127.01 | -243.26 | -1,131.13 | +887.87 | +78.5% |
| EBITDA | -21.22 | 193.20 | -829.35 | +1,022.55 | +123.3% |
| Net Worth | 1,867.92 | 1,945.37 | -861.79 | +2,807.16 | – |
| Reserves & Surplus | 787.92 | 467.06 | -1,254.74 | +1,721.80 | – |
| Total Borrowing | 1.55 | 0.33 | 1,687.40 | -1,687.07 | -99.9% |
PhysicsWallah Limited IPO – FAQs
The total issue size of the PhysicsWallah Limited IPO is ₹3,480 crore, including a fresh issue of ₹3,100 crore and an offer for sale (OFS) of ₹380 crore.
The PhysicsWallah Limited IPO price band has been fixed between ₹103 and ₹109 per share, with a face value of ₹1 per share.
The PhysicsWallah Limited IPO opened for subscription on November 11, 2025, and will close on November 13, 2025.
Retail investors can apply for a minimum of 137 shares, amounting to ₹14,933 at the upper price band in the PhysicsWallah Limited IPO.
The PhysicsWallah Limited IPO allotment is expected on November 14, 2025, and the shares will list on November 18, 2025, on BSE and NSE.
The PhysicsWallah Limited IPO is managed by Kotak Mahindra Capital Co. Ltd., with MUFG Intime India Pvt. Ltd. as the registrar to the issue.
Disclaimer: Investments in the securities market are subject to market risks; read all the related documents carefully before investing.
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