PhysicsWallah shall open its Offer in relation to its initial public offer of Equity Shares on Tuesday, 11th November 2025
FinTech BizNews Service
Mumbai, November 6, 2025: Physicswallah Limited shall open its Bid/Offer in relation to its initial public offer of Equity Shares on Tuesday, 11th November 2025. The Anchor Investor Bidding Date is one working day prior to bid/offer opening date, being Monday, 10th November 2025. The Bid/ Offer Closing Date is Thursday, 13th November 2025.
Management of PhysicsWallah Limited - Mr. Alakh Pandey (Whole-Time Director and Chief Executive Officer, PhysicsWallah Limited) & Mr. Prateek Maheshwari (Whole-Time Director, PhysicsWallah Limited)
The total offer size comprises of a fresh issue of equity shares of face value of Rs1 each aggregating up to Rs 3480 Crores. The IPO includes a fresh issue of equity shares of face value Rs1 each aggregating up to Rs3100 Crores and an offer for sale of equity shares of face value Rs1 each aggregating up to Rs380 Crores.
Price Band of the issue is fixed at Rs. 103/- to Rs 109/- per equity share. (“The Price Band”).
The offer includes a discount of Rs. 10/- per Equity Share is being offered to Eligible Employees bidding in the Employee Reservation Portion.
Bids can be made for a minimum of 137 Equity Shares and in multiples of 137 Equity Shares thereafter. (“Bid Lot”).
The company proposes to utilize the net proceeds from the issue towards multiple strategic objectives. Around Rs460.551 Crores is earmarked for capital expenditure on fit-outs of new offline and hybrid centers, while Rs548.308 Crores will go towards lease payments for existing identified centers operated by the company. An investment of Rs47.168 Crores is planned in its subsidiary, Xylem Learning Private Limited, including Rs31.648 Crores for setting up new offline centers (“New Xylem Centers”) and Rs15.520 Crores for lease payments of existing Xylem centers and hostels. A further Rs28.002 Crores will be invested in Utkarsh Classes & Edutech Private Limited to meet lease payment obligations for its existing offline centers. Additionally, Rs200.106 Crores is allocated towards server and cloud-related infrastructure, and Rs710 Crores towards marketing initiatives. The company also plans to spend Rs26.5 Crores to acquire an additional shareholding in its subsidiary, Utkarsh Classes & Edutech Private Limited. The remaining proceeds will be utilized for funding inorganic growth through unidentified acquisitions and for general corporate purposes.
The Offer is being made in terms of Rule 19(2)(b) of the SCRR read with Regulation 31 of the SEBI ICDR Regulations. The Offer is being made through the Book Building Process (as defined hereinafter) in accordance with Regulation 6(2) of the SEBI ICDR Regulations wherein in terms of Regulation 32(2) of the SEBI ICDR Regulations, not less than 75% of the Net Offer shall be available for allocation on a proportionate basis to Qualified Institutional Buyers (“QIBs”, and such portion, the “QIB Portion”) provided that our Company in consultation with the BRLMs, may allocate up to 60% of the QIB Portion to Anchor Investors on a discretionary basis in accordance with the SEBI ICDR Regulations (“Anchor Investor Portion”), of which at least one-third shall be available for allocation to domestic Mutual Funds, subject to valid Bids being received from domestic Mutual Funds at or above the Anchor Investor Allocation Price. In the event of under-subscription or non-allocation in the Anchor Investor Portion, the balance Equity Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Net QIB Portion”).
Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, Goldman Sachs (India) Securities Private Limited and Axis Capital Limited are the bankers to the issue.
