PhysicsWallah
January 1, 1970 – January 1, 1970
| Price | ₹0 - ₹0 |
| GMP Rumors * | ₹0 |
|---|---|
| Lot size | 0 |
| Issue size | ₹3820.00 cr |
| Allotment | - |
| Listing | - |
PhysicsWallah About
PhysicsWallah IPO Details
| Total Issue Size | [.] shares (aggregating up to ₹3,820.00 Cr) |
| Fresh Issue | [.] shares (aggregating up to ₹3,100.00 Cr) |
| Offer for Sale | [.] shares of ₹1 (aggregating up to ₹720.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 2,18,71,05,588 shares |
PhysicsWallah IPO Reservation
| 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 |
Key Performance Indicator (KPI)
Details will be added soon.Financial details In crores
| Period Ended | Mar-25 | Mar-24 | Mar-23 |
|---|---|---|---|
| Assets | 4,156.4 | 2,480.7 | 2,082.2 |
| Total Income | 3,039.1 | 2,015.4 | 772.5 |
| Profit After Tax | -243.3 | -1,131.1 | -84.1 |
| EBITDA | 193.2 | -829.4 | 13.9 |
| NET Worth | 1,945.4 | -861.8 | 62.3 |
| Reserves and Surplus | 467.1 | -1,254.7 | -187.7 |
| Total Borrowing | 0.3 | 1,687.4 | 956.2 |
Company Overview
Business: Leading EdTech platform offering online, offline, and hybrid test preparation (JEE, NEET, UPSC) and upskilling courses (Data Science, Finance, Software Development).
Digital Presence: 13.7 million YouTube subscribers as of July 15, 2025.
Users:
4.13 million online transacting users
0.33 million offline enrolled students
Total paid users: 4.46 million (CAGR 59.19% from FY23–FY25)
Offline Centers: 198 centers (tech-enabled and hybrid).
Average Collection per User: ₹3,682.79
Faculty Members: 5,096
Total Employees: 15,775
Books Published: 3,582
Market Position: Among the top 5 EdTech companies in India by revenue.
IPO Objects (Major Allocations):
Offline and hybrid center expansion and leases – ₹1,056 crore
Server and cloud infrastructure – ₹200 crore
Marketing initiatives – ₹710 crore
Acquisition and investment (Utkarsh Classes, Xylem) – ₹107 crore
Inorganic growth and general corporate purposes – balance
Strength
Omni-channel Presence: Strong combination of online, offline, and hybrid learning modes enables wide market coverage and adaptability to different student needs.
Large User Base and Strong Brand Trust: Over 13.7 million YouTube subscribers and 4.46 million paid users indicate strong brand recognition and organic reach across India.
Proprietary and Scalable Technology Stack: In-house platforms and delivery systems enhance learning experience, reduce external dependency, and allow cost-efficient scaling.
Weakness
Consistent Losses and Negative Net Worth: Reported losses of ₹2,432.58 million (FY25), ₹11,311.30 million (FY24), and ₹840.75 million (FY23). Sustained financial losses may affect liquidity and investor sentiment.
Dependence on Student and Faculty Retention: Business performance is heavily dependent on continued student enrolments and faculty retention; any decline could harm growth and revenue.
High Competition and Costly Offline Expansion: The company faces strong competition from major EdTech players like BYJU’S and Unacademy, while ongoing capital and lease expenses for new centers pose financial pressure.
PhysicsWallah Lead Manager(s)
PhysicsWallah Address
B 8, Block B,
Industrial Area, Sector 62,
Noida, Uttar Pradesh 201309
Noida, Uttar Pradesh, 201309
Phone: +91 9289926531
Email: investorsrelation@pw.live
Website: https://www.pw.live/
PhysicsWallah Registrar
MUFG Intime India Private Limited (Link Intime)
Link Intime India Private Ltd
C 101, 247 Park,
L.B.S.Marg Vikhroli (West),
Mumbai - 400083
PhysicsWallah Reviewers
| Reviewer | Recommendation | File |
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