PhysicsWallah Limited
Mainboard₹14,933 / 137 Shares
IPO Live Subscription Details
| Category | Subscription (Times) |
|---|---|
| Date | 13 Nov 2025, 06:57 PM |
| QIBs | 2.86 times |
| NII | 0.51 times |
| Retail | 1.12 times |
| Employee | 3.71 times |
| Total | 1.91 times |
PhysicsWallah Limited IPO Details
The PhysicsWallah Limited IPO price band is set between ₹103-109 per equity share, with a face value of ₹1 per share. The issue is managed by MUFG Intime India Pvt Ltd, and the equity shares are proposed to be listed on the Mainboard.
The IPO date for subscription opens on 11 Nov, 2025 and closes on 13 Nov, 2025. Investors can check the allotment status on 14 Nov, 2025, while the listing date is tentatively scheduled for 18 Nov, 2025.
The total issue size is 31,92,66,054 shares, aggregating up to ₹3480 crore. Stay tuned for the latest PhysicsWallah Limited IPO review and GMP updates.
PhysicsWallah Limited IPO Review, Rating & Analysis
PhysicsWallah Limited IPO Review
IgnorePhysicsWallah Limited IPO Rating
PhysicsWallah Limited IPO Highlights
IPO Date
Nov 11, 2025 - Nov 13, 2025
Listing Date
18 Nov, 2025
Face Value
₹1 Per Equity Share
Price Band
₹103-109 per equity share
Lot Size
137 Shares
Fresh Issue
Shares
Offer for Sale
-
Listing At
BSE, NSE
PhysicsWallah Limited IPO Lot Size
The minimum market lot for PhysicsWallah Limited IPO is 137 shares with an application amount of ₹14,933. Retail investors can apply for up to 13 lots. The table below details the minimum and maximum investment limits for Retail and HNI investors.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 137 | ₹14,933 |
| Retail (Max) | 13 | 1781 | ₹1,94,129 |
| S-HNI (Min) | 14 | 1918 | ₹2,09,062 |
| S-HNI (Max) | 66 | 9042 | ₹9,85,578 |
| B-HNI (Min) | 67 | 9179 | ₹10,00,511 |
PhysicsWallah Limited IPO Timeline
Issue Price
₹103-109 per equity shareFace Value
₹1 Per Equity ShareListing at Group
BSE, NSERegistrar
MUFG Intime India Pvt LtdLead Manager
Kotak Mahindra CapitalJ.P. MorganGoldman SachsAxis CapitalIssue Size
31,92,66,054 shares(aggregating up to ₹3480 crore)PhysicsWallah Limited IPO Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Reserves and Surplus | Total Borrowing |
|---|---|---|---|---|---|---|
| 30-Jun-25 | 5075.67 | 905.41 | -127.01 | 1867.92 | 787.92 | 1.55 |
| 31-Mar-25 | 4156.38 | 3039.09 | -243.26 | 1945.37 | 467.06 | 0.33 |
| 31-Mar-24 | 2480.74 | 2015.35 | -1131.13 | -861.79 | -1254.74 | 1687.40 |
| 31-Mar-23 | 2082.18 | 772.54 | -84.08 | 62.29 | -187.65 | 956.15 |
In Cr.
PhysicsWallah Limited IPO Reservation Details
| Investor Category | Shares Offered | % Shares |
|---|---|---|
| Anchor Investor Shares Offered | 143380733 | 44.91% |
| QIB Shares Offered | 95538505 | 29.92% |
| NII (HNI) Shares Offered | 47783848 | 14.97% |
| bNII > ₹10L | 31855898 | 10% |
| sNII < ₹10L | 15927949 | 5% |
| Retail Shares Offered | 31855898 | 9.98% |
| Employee Shares Offered | 707071 | 0.22% |
| Total Shares Offered | 319266055 | 100% |
PhysicsWallah Limited IPO Documents
PhysicsWallah Limited IPO Valuations
EPS Pre IPO
₹-0.93/-EPS Post IPO
₹-1.76/-PE Pre IPO
-116.86PE Post IPO
-62.06ROE
-ROCE
-Debt Equity
-RoNW
-12.50%PAT Margin
-8.43%Price to Book Value
14.10Promoters & Share Holding
Promoter(s) Name
- Alakh Pandey
- Prateek Boob
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| 81.64% | 72.30% |
About Company
PhysicsWallah Limited is an Indian education technology start-up founded by Alakh Pandey in 2016 in the form of a YouTube channel dedicated to physics education. The firm was officially incorporated as PhysicsWallah Private Limited on June 6, 2020. It offers both online and offline education solutions to students in class 6 to class 12 and students preparing for competitive exams like JEE, NEET, and UPSC.
Major Offerings:
Online Courses– Video lectures, live interactive sessions, and doubt-clearing sessions for JEE, NEET, UPSC, and board exams.
Offline Learning– More than 100 offline coaching centers spread throughout India, in addition to hybrid learning models.
Study Material– Books, notes, and test series for assisting exam preparation.
Mobile App & Website– Digital platforms providing affordable and accessible education.
Key Numbers:
4.13 million Unique Transacting users (Online) and 0.33 million students enrolled for offline centers.
Average collection per user: 3,930.55 as of June 30, 2025
Multiple courses across 13 education categories
303 total offline centers as of June 30, 2025
6,267 Faculty members as of June 30, 2025
18,028 employees as of June 30, 2025
4382 books published
PhysicsWallah Limited IPO Subscription Details
| As on | QIB | NII bNII sNII | Retail | Total |
|---|---|---|---|---|
| Shares Offered / Reserved | 9,55,38,505 | 4,77,83,848
3,18,55,898
1,59,27,949
| 3,18,55,898 | 17,58,85,322 |
Day 111-11-25 05:00 PM | 0.00 x | 0.03
0.01 x
0.05 x
| 0.35 x | 0.07 x |
Day 212-11-25 05:00 PM | 0.00 x | 0.06
0.03 x
0.11 x
| 0.62 x | 0.14 x |
Day 313-11-25 05:00 PM | 2.86 x | 0.51
0.58 x
0.37 x
| 1.12 x | 1.91 x |
Retail:0.85x
BHNI:0.07x
SHNI:0.30x
PhysicsWallah Limited IPO - Issue Objectives & Utilisation of proceeds
| Objectives | Amount |
|---|---|
| Capital expenditure for fit-outs of new offline and hybrid centers of our Company | ₹ 460.55 Cr |
| Expenditure towards lease payments of existing identified offline and hybrid centers operated by our Company | ₹ 548.31 Cr |
| Capital expenditure for fit-outs of new offline centers of Xylem | ₹ 31.65 Cr |
| Lease payments for Xylem’s existing identified offline centers and hostels | ₹ 15.52 Cr |
| Investment in our Subsidiary, Utkarsh Classes & Edutech Private Limited for expenditure towards lease payments for Utkarsh Classes’ existing identified offline centers | ₹ 33.70 Cr |
| Expenditure towards server and cloud related infrastructure costs | ₹ 200.11 Cr |
| Expenditure towards marketing initiatives | ₹ 710.00 Cr |
| Acquisition of additional shareholding in our Subsidiary, Utkarsh Classes & Edutech Private Limited | ₹ 26.50 Cr |
| Funding inorganic growth through unidentified acquisitions and general corporate purposes | - |
Company Contact Details
PhysicsWallah Limited
B 8, Block B, Industrial Area, Sector 62,, Noida, Uttar Pradesh 201309Registrar Contact Details
MUFG Intime India Private Limited (Link Intime)
Phone: +91-22-4918 6270
Email: physicswallah.ipo@in.mpms.mufg.com
Website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html
Frequently Asked Questions about PhysicsWallah Limited IPO
When will PhysicsWallah Limited IPO open for subscription?
The PhysicsWallah Limited IPO opens on 11 Nov, 2025 and closes on 13 Nov, 2025.
What is the investors portion for PhysicsWallah Limited IPO?
The investors' portion for QIB is 2.86 x, NII is 0.58 x, and Retail is 1.12 x.
How to apply for PhysicsWallah Limited IPO?
You can apply for PhysicsWallah Limited IPO via ASBA online through your bank account. You can also apply via UPI through stock brokers like Zerodha, Upstox, or Paytm Money.
What is the issue size of PhysicsWallah Limited IPO?
The issue size of PhysicsWallah Limited IPO is approx ₹31,92,66,054 shares(aggregating up to ₹3480 crore) crores.
What is the price band of PhysicsWallah Limited IPO?
The price band for PhysicsWallah Limited IPO is ₹103 to ₹109 per equity share.
What is the lot size of PhysicsWallah Limited IPO?
The minimum bid (lot size) for PhysicsWallah Limited IPO is 137 shares with an investment of approx ₹14,933 .
What is the allotment date of PhysicsWallah Limited IPO?
The allotment date for PhysicsWallah Limited IPO is 14 Nov, 2025.
What is the listing date of PhysicsWallah Limited IPO?
The listing date for PhysicsWallah Limited IPO is expected to be 18 Nov, 2025.
What is the GMP of PhysicsWallah Limited IPO?
The latest Grey Market Premium (GMP) for PhysicsWallah Limited IPO is being updated regularly on IPOROCK.
Parth D.
Founder & Lead Analyst
Parth D. is a software engineer and financial analyst who brings a quantitative edge to IPO tracking. With deep expertise in algorithmic trading and financial tool development, he builds the technology that powers IPORock's real-time data engines. He has been tracking the Indian market since 2018.