PhysicsWallah IPO 2025| PhysicsWallah IPO date| PhysicsWallah share price| PhysicsWallah IPO issue size| PhysicsWallah financials| PhysicsWallah listing date| PhysicsWallah DRHP| edtech IPO India
🏢 Company Overview – The Rise of PhysicsWallah
Founded by Alakh Pandey in 2016 as a YouTube channel, PhysicsWallah has transformed into one of India’s most trusted ed-tech unicorns, officially incorporated as PhysicsWallah Ltd. in 2020.
It offers affordable learning solutions for students preparing for JEE, NEET, UPSC, NDA, and other exams through:
- Online classes & mobile app (PW App)
- Hybrid and offline coaching centres (PW Vidyapeeth, Pathshala)
- Study materials, test series & AI-based learning support
As of FY2025, the platform has crossed 30 million+ subscribers and continues to expand across Tier-2 and Tier-3 cities.
💰 PhysicsWallah IPO 2025 Key Details
| Particular | Details |
|---|---|
| IPO Type | Mainboard IPO |
| Regulatory Filing | Draft Red Herring Prospectus (DRHP) filed with SEBI |
| Issue Size | ₹3,820 crore (approx.) |
| Fresh Issue | ₹3,100 crore |
| Offer for Sale (OFS) | ₹720 crore |
| Face Value | ₹1 per share |
| Price Band | Yet to be announced |
| Lot Size | Yet to be announced |
| Listing At | NSE, BSE |
| Expected Timeline | Early 2026 (Tentative) |
| Lead Managers | Axis Capital, Kotak Mahindra Capital, ICICI Securities, JM Financial |
(Source: SEBI filings, Economic Times, Reuters, Groww)
📊 Financial Performance Snapshot (FY23–FY25)
| Metric | FY23 | FY24 | FY25 (Estimated) |
|---|---|---|---|
| Revenue | ₹744 crore | ₹1,972 crore | ₹2,886 crore |
| EBITDA Margin | 6.4% | 9.8% | 10.5% |
| Net Profit / Loss | -₹135 crore | -₹780 crore | -₹1,131 crore |
| Total Users | 19 million | 27 million | 30 million+ |
Despite growing revenues, profitability remains a challenge, mainly due to heavy investment in offline expansion and content creation.
🚀 Growth Strategy & IPO Utilization Plan
The company plans to utilize IPO proceeds as follows:
- Expansion of offline hybrid centres: Strengthening “PW Vidyapeeth” across India
- Tech innovation: AI-based adaptive learning & vernacular content in regional languages
- Strategic acquisitions: Smaller ed-tech players & skill-learning platforms
- General corporate purposes: Debt repayment, working capital, brand building
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💪 Strengths of PhysicsWallah Ltd.
- Massive user base with strong brand trust among students
- Affordable pricing model that democratized quality education
- Hybrid business approach – both online & offline centres
- Strong community engagement – loyal subscriber ecosystem
- Ed-tech first mover in IPO market, signaling maturity in the sector
⚠️ Risks and Challenges
- Profitability Concerns: Despite high revenue growth, net losses remain significant.
- Operational Risks: Offline expansion is capital-intensive and staff-dependent.
- Competition: Rivals like Byju’s (restructuring), Vedantu, Unacademy are still vying for market share.
- Sector Regulation: Education and data privacy laws could impact operations.
- Investor Sentiment: Given ed-tech corrections globally, valuations may face skepticism.
PhysicsWallah IPO 2025| PhysicsWallah IPO date| PhysicsWallah share price| PhysicsWallah IPO issue size| PhysicsWallah financials| PhysicsWallah listing date| PhysicsWallah DRHP| edtech IPO India
Pine Labs Limited IPO: Everything You Need to Know – Dates, Price Band, Valuation & Key Insights
📈 Market Impact & Investor View
The PhysicsWallah IPO is expected to be a sentiment driver for India’s ed-tech ecosystem.
If priced attractively, it could:
- Reignite interest in Indian startup IPOs
- Establish valuation benchmarks for unlisted ed-tech firms
- Encourage consolidation and strategic partnerships in the education sector
However, valuation discipline and clear profitability roadmap will determine long-term success.
📆 Important Dates (Tentative)
| Event | Date |
|---|---|
| DRHP Filing with SEBI | March 2025 |
| SEBI Approval | July 2025 |
| RHP Filing & Price Band Announcement | December 2025 |
| IPO Opening Date | To be announced |
| IPO Closing Date | To be announced |
| Listing Date | Early 2026 (expected) |
🧾 Should You Apply for PhysicsWallah IPO?
For Long-Term Investors:
✅ Promising growth trajectory and strong brand loyalty.
⚠️ Profitability & execution risks in the offline model.
For Short-Term Traders:
👀 Watch out for IPO subscription data, price band, and anchor investor participation before deciding.
🔮 Expert Take
“PhysicsWallah’s IPO is not just another listing — it’s a test case for the resilience and scalability of India’s ed-tech ecosystem. If successful, it can redefine investor confidence in educational startups.”
— Market Analyst, D-Street Focus Research
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📎 Source Credits
- Economic Times
- Reuters
- Mint
- Groww
- Inc42
- India Today
- SEBI Filings
🧭 Conclusion
PhysicsWallah Ltd. IPO marks a historic step for India’s ed-tech industry, bridging the gap between affordable education and public market confidence.
While valuation and profitability remain key questions, the company’s vision, brand strength, and hybrid expansion make it one of the most watched IPOs of 2025–26.
Subscription:
| Date | Anchor | QIB | NII | BNII(>10l) | SNII(<10L) | Retail | Total |
|---|---|---|---|---|---|---|---|
| Day-1 |
GMP Trend:
| Date | GMP |
|---|---|
| 11 Nov 2025 | ₹16.00(16.50%) |
| 12 Nov 2025 | |
| 13 Nov 2025 |
It should be noted that IPO GMP is subject to extreme volatility, so an investment decision based solely on Patel Retail IPO GMP will prove risky. Therefore, before to investing, consider all factors and make the right investment decision whether to invest in Patel Retail IPO or not.
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