PhysicsWallah IPO
PhysicsWallah IPO — date, price band, GMP & allotment 2025
PhysicsWallah is planning to launch its IPO soon. The company started as a YouTube channel by Alakh Pandey and later became one of India’s fastest-growing edtech platforms. It provides affordable coaching for JEE, NEET, and other competitive exams. Through this IPO, PhysicsWallah aims to raise funds for expansion, technology improvement, and strengthening its offline centers across India.
Stock price
PhysicsWallah is listed — here is the live share price.
Researched & reviewed by
Abhishek Vohera,
Founder, IPO Guru
Last updated
Figures sourced from the RHP, BSE & NSE
Timetable
Key dates from opening to listing. Today is 13 September.
- Open 11 Nov 2025
- Close 13 Nov 2025
- Allotment 14 Nov 2025
- Refund/credit 17 Nov 2025
- Listing 18 Nov 2025
Issue summary
The terms of the offer, as filed.
| IPO Dates | 11 to 13 Nov, 2025 |
|---|---|
| Price Band | ₹103 to 109 |
| Face Value | ₹₹1 |
| Lot Size | 137 Shares |
| Issue Size | ₹3480.00 Cr |
| Sale Type | Fresh capital cum OFS |
| Listing On | BSE & NSE |
| Employee Discount | Rs 10.00 per share |
| Registrar | MUFG Intime India Private Limited |
| Min Investment | ₹ 14,933 |
Share of the offer set aside for each investor category, as stated in the offer document.
What will it cost me?
Bidding is in multiples of 137 shares at the ₹109 cut-off. Drag to size your application.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 137 | ₹14,933 |
| Retail (max) | 13 | 1,781 | ₹1,94,129 |
| S-HNI (min) | 14 | 1,918 | ₹2,09,062 |
| S-HNI (max) | 66 | 9,042 | ₹9,85,578 |
| B-HNI (min) | 67 | 9,179 | ₹10,00,511 |
Three years of numbers
All figures in ₹ crore, as reported in the PhysicsWallah offer document.
| Metric | 30 Jun 2025b | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Revenue | 905.41 | 3,039.09 | 2,015.35 |
| OPM % | 1.4 | ||
| EBITDA | -21.22 | 193.20 | -829.35 |
| Net Profit | -127.01 | -243.26 | -1,131.13 |
| Debt | 1.55 | 0.33 | 1,687.40 |
| Assets | 5,075.67 | 4,156.38 | 2,480.74 |
See how this IPO compares — view listing performance of all mainboard IPOs.
Valuation & key ratios
Ratios are for the latest full financial year reported in the PhysicsWallah RHP. EPS and P/E are post-issue — the table below carries the pre-issue comparison.
PhysicsWallah IPO Valuation
How the issue prices the company before and after the fresh shares are created.
| Valuation Metric | Post-Issue |
|---|---|
| EPS (₹) | ₹-0.93 |
| P/E Ratio (x) | -116.86 |
| Market Cap at Offer Price (₹ Cr) | ₹14,886.12 |
Pre-issue figures use the shareholding reported in the RHP; post-issue figures use the shareholding once the fresh issue has created new shares. The two differ because of that dilution and because post-issue earnings per share are often annualised, so the change can run in either direction. Market capitalisation is calculated at the ₹109 offer price. Compare the post-issue P/E against listed peers before deciding — a premium there is growth you are paying for in advance.
Where the money goes
₹2,961.79 Cr of the issue is earmarked to named objects.
About the company
The company provides a wide range of products and services including live online classes, recorded lectures, study materials, test series, and offline coaching centers under its hybrid model. Its business model focuses on affordability and scale, targeting students from Tier 2 and Tier 3 cities by offering quality education at competitive prices. Revenue is primarily generated through course subscriptions, app-based learning programs, and offline center enrollments, while maintaining a strong digital presence to reach millions of learners nationwide.
Interested in this IPO? Check the live subscription status or browse all upcoming mainboard IPOs.
+91 9289926531
The bankers & the filings
Who is running the book, and the documents this page is built from.
PhysicsWallah IPO Documents
Read the filings this page is built from.
Lead Manager Track Record
How the book-running lead managers on this issue have priced their past IPOs, measured on listing day.
Axis Capital
27 issues handledBest listing: LG Electronics India (+50.0%). Weakest: Clean Max Enviro Energy Solutions (-8.8%).
Kotak Mahindra Capital Co.Ltd.
15 issues handledBest listing: Corona Remedies (+38.4%). Weakest: Amagi Media Labs (-12.2%).
Goldman Sachs (India) Securities Private Limited
2 issues handled2 of their issues have listed so far, and 2 opened above the issue price (average +15.3%). That is too small a sample to read as a hit rate.
Listing gain compares the listing-day opening price with the issue price, using the IPOs on IPO Guru that this lead manager has taken to market. A strong record reflects how the banker has priced past issues — it is not a forecast for this one. See every issue they have handled on the lead managers page.
Company contact
Frequently asked
What is the GMP of PhysicsWallah?
The current Grey Market Premium is ₹0.
What is the PhysicsWallah IPO price band?
₹103 to ₹109, on a face value of ₹₹1.
When is the allotment?
The basis of allotment is 14 November 2025, with listing on 18 November 2025.
How do I check allotment status?
On the IPO Guru allotment page or on the registrar's site — MUFG Intime India Private Limited.
Every number here traces back to a filing.
IPO Guru tracks GMP, subscription and allotment for every Mainboard and SME issue. Every number on this page is sourced from the RHP, BSE & NSE.
Not investment advice. Grey market premium is an unofficial, unregulated indicator and is not a forecast.
