PhysicsWallah IPO

Introduction

PhysicsWallah, India’s pioneering edtech unicorn, is launching its much-awaited IPO from November 11 to November 13, 2025. Best known for accessible and affordable learning, PhysicsWallah’s journey from a humble YouTube channel to a market leader has made its public offering one of the most talked-about events this year. Backed by marquee investors like WestBridge Capital, Lightspeed, and Hornbill, this IPO opens new horizons for the company’s next phase of growth.

Important PhysicsWallah IPO Details

Feature	Details
Issue Size	₹3,480 crore
Fresh Issue	₹3,100 crore
Offer for Sale (OFS)	₹380 crore
Price Band	₹103 – ₹109 per share
Lot Size	137 shares (minimum investment: ₹14,933)
Anchor Book	November 10, 2025
Subscription Dates	November 11–13, 2025
Allotment Date	November 14, 2025
Listing Date	November 18, 2025 (BSE, NSE)
Face Value	₹1 per share
Book Running Lead Managers	Kotak Mahindra, JP Morgan, Goldman Sachs, Axis Capital
Registrar	MUFG Intime India

Key Financial Information

• FY25 Revenue: ₹2,887 crore (up from ₹1,941 crore in FY24)
• Net Loss (FY25): ₹243 crore (vs ₹1,131 crore loss in FY24—showing a significant turnaround)
• Gross Margin FY25: Improved to 30.9% from 18.6% year-on-year
• Post-IPO Valuation (Upper Band): ~₹31,500 crore (~$3.6 billion)

Objective of the IPO

• Expansion of Offline & Hybrid Learning Centers: ~₹460.5 crore for new classroom fit-outs, ₹548.3 crore towards lease payments for existing locations
• Investment in Subsidiaries: ₹47.2 crore to Xylem Learning (for new centers and hostels), ₹26.5 crore for increased stake in Utkarsh Classes, and ₹33.7 crore for lease expenses there
• Technology & Operations: ₹200.1 crore for server/cloud infra, ₹710 crore for marketing and branding
• Working Capital & Corporate Purposes: Remainder to support business growth and general corporate needs.

Why PhysicsWallah IPO Matters

PhysicsWallah’s debut as a major edtech IPO is a rare opportunity for investors to participate in India’s booming education market. The company’s mix of digital-first scale, community engagement, and now a growing offline network—makes it both a turnaround story and a platform for future sector innovation.

How To Apply for the Online?

• Login or Open demat account with JM Financial Services / JM PRO app: Open the JM PRO app or JM Financial Services website and log in with your credentials. 
• Locate the IPO Section: Navigate to the 'IPO' section on the platform. 
• Select IPO: Find and select the IPO from the list of open IPOs. 
• Enter the Lot Size: Specify the number of lots you want to bid for. 
• Submit Your UPI ID: Enter your UPI ID to link your payment method and submit your application. 
• Approve Funds: Once you receive the bid request on your UPI app, approve it by entering your UPI PIN. 

How To Check the Allotment Status of IPO?

Steps to check IPO allotment status on JM Pro app: 

• Log in to the JM Pro app. 
• Go to the IPO Section and then to IPO Orders. 
• Select the individual IPO that you had applied for and check the allotment status. 

JM Financial Services will notify you of your IPO allotment status via push notification and email

Final Thoughts :-

PhysicsWallah brings the energy of digital India to the stock market—offering investors a transparent, affordable way to participate in the country’s education story. Stay tuned for updates and always review the Red Herring Prospectus and your investment goals before subscribing.

FAQs:-

Q: What are the important IPO dates for PhysicsWallah?
A: Opens November 11, 2025; closes November 13, 2025; listing on November 18, 2025.

Q: What is the price band and minimum lot size?
A: ₹103–₹109 per share; minimum 137 shares per lot (₹14,933).

Q: What is the breakup between fresh issue and OFS?
A: ₹3,100 crore fresh issue, ₹380 crore by promoters (OFS).

Q: Where will shares be listed?
A: On BSE and NSE from November 18, 2025.

Q: How will IPO proceeds be used?
A: Growth of offline/hybrid centers, technology upgrades, marketing, investments in subsidiaries, and working capital.

Q: Is PhysicsWallah profitable?
A: Not yet, but has sharply reduced losses—from ₹1,131 crore in FY24 to ₹243 crore in FY25, with strong revenue momentum and operating leverage improvements.