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PhysicsWallah Ltd.

PhysicsWallah Ltd.

NSE & BSE · Mainboard IPO
Listed NSE & BSE Mainboard Live Chart
Issue Price
₹109
₹109
GMP (Grey Market)
NIL
Unofficial data only
Est. Listing Price
₹109
Based on GMP
Min. Investment
₹14,933
1 lot × 137 shares
Subscribed
1.00x
Over-subscribed
IPO Details
Open Date
11 Nov 2025
Close Date
13 Nov 2025
Allotment
14 Nov 2025
Listing Date
18 Dec 2025
Exchange
NSE & BSE
Price Band
₹109
Listing Price
See chart
Allotment Status
Price Band
₹109
Per share
Face Value
₹1 per share
 
Lot Size
137 Shares
per lot
Issue Size
31,92,66,054 shares (aggregating up to ₹3,480.00 Cr)
Total offering
Issue Type
Bookbuilding IPO
 
Min Investment
₹14,933
1 lot
Pre-IPO Holding
2,60,79,56,938 shares
Promoters
Post-IPO Holding
2,89,23,60,607 shares
Promoters
P/E (Pre)
-116.86x
 
P/E (Post)
-62.06x
 
EPS (Pre)
₹-0.93
 
EPS (Post)
₹-1.76
 
UPI Deadline
2025-11-13
Mandate
Anchor AllotmentMon, 10 Nov 2025
Basis of AllotmentFri, 14 Nov 2025
Refund InitiationMon, 17 Nov 2025
Demat CreditMon, 17 Nov 2025
Listing DayThu, 18 Dec 2025
UPI Mandate Deadline2025-11-13
Sale TypeFresh Capital-cum-Offer for Sale
Fresh Issue Shares28,44,03,669 shares (aggregating up to ₹3,100.00 Cr)
Offer for Sale3,48,62,385 shares of ₹1 (aggregating up to ₹380.00 Cr)
QIB Quota50% of Net Issue
HNI / NII Quota15% of Net Issue
Retail Quota35% of Net Issue
Check AllotmentClick here →
Subscription Rate Final
PhysicsWallah Ltd. IPO subscribed 1.00 times overall. Retail: 1.00x. QIB: 1.00x. NII: 1.00x. By 13 Nov 2025.
QIB
1.00x
Over
NII/HNI
1.00x
Over
Retail
1.00x
Over
Total
1.00x
Over
Category Subscription Shares Offered % of Total Amount (₹Cr)
QIB
Over 1.00x
NII / HNI
Over 1.00x
Retail
Over 1.00x
Total 1.00x
319,266,055
100% ₹3,480.00
IPO Shares Offered
PhysicsWallah Ltd. IPO total issue size: ₹3,480.00 Cr.
CategoryShares OfferedAmount (₹Cr)Size (%)
Total 319,266,055 ₹3,480.00
100.00%
* Based on upper price band ₹109 per share
Lot Size & Investment
Lot Size
137
Shares per Lot
Issue Price
₹109.00
Upper Band
Min Investment
₹14,933
1 Lot
ApplicationLotsSharesAmount
Retail (Min — 2 Lots)2274₹29,866
Retail (Max — 13 Lots)131,781₹194,129
S-HNI (Min — 14 Lots)141,918₹209,062
B-HNI (Min — 68 Lots)689,316₹1,015,444
* Issue Price ₹109 × Lot Size 137 shares
IPO Schedule
Anchor
10 Nov 2025
✓ Done
IPO Open
11 Nov 2025
✓ Done
IPO Close
13 Nov 2025
✓ Done
Allotment
14 Nov 2025
✓ Done
Refunds
17 Nov 2025
✓ Done
Demat Credit
17 Nov 2025
✓ Done
Listing Day
18 Dec 2025
✓ Done
PhysicsWallah Ltd. — Live Price LIVE
₹109.00
INR · BSE
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Issue ₹109.00 Live Price
About PhysicsWallah Ltd.
Physicswallah is an edtech company offering test preparation courses for various competitive examinations like JEE, NEET, UPSC, etc. and upskilling courses like Data science and analytics, banking and finance, software development, etc. It offers online services via social media channels, website and apps and also offers techenabled offline centers and hybrid centers. It is among the top 5 edtech companies in terms of revenues in India and has 13.7 million subscribers on YouTube as of July 15, 2025.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, 2025Multiple courses across 13 education categories303 total offline centers as of June 30, 20256,267 Faculty members as of June 30, 202518,028 employees as of June 30, 20254382 books publishedCompetitive strengths4.46 million Total Number of Paid Users in Fiscal 2025, grew at a CAGR of 59.19% from fiscal 2023 to 2025Presence across a large number of education categories in India with courses offered through multiple channelProprietary technology-stack enhances students’ learning experienceSpecialized faculty members across categories, quality content and well-planned curriculumExperienced management team led by our visionary founders
Objects of the Issue
1
1 Capital expenditure for fit-outs of new offline and hybrid centers of our Company
2
2 Expenditure towards lease payments of existing identified offline and hybrid centers operated by our Company
3
3 Capital expenditure for fit-outs of new offline centers of Xylem
4
4 Lease payments for Xylem’s existing identified offline centers and hostels
5
5 Investment in our Subsidiary, Utkarsh Classes & Edutech Private Limited for expenditure towards lease payments for Utkarsh Classes’ existing identified offline centers
6
6 Expenditure towards server and cloud related infrastructure costs
7
7 Expenditure towards marketing initiatives
8
8 Acquisition of additional shareholding in our Subsidiary, Utkarsh Classes & Edutech Private Limited
9
9 Funding inorganic growth through unidentified acquisitions and general corporate purposes
PhysicsWallah Ltd. Financials (Amount in ₹ Crore)
Revenue from Operations
₹2,015.4
31 Mar 2024
₹3,039.1
31 Mar 2025
₹905.4
30 Jun 2025
Profit After Tax (PAT)
-₹1,131.1
31 Mar 2024
-₹243.3
31 Mar 2025
-₹127.0
30 Jun 2025
Particulars30 Jun 202531 Mar 202531 Mar 2024
Revenue from Operations 905.41 3039.09 2015.35
EBITDA -21.22 193.20 -829.35
Profit After Tax (PAT) -127.01 -243.26 -1131.13
Net Worth 1867.92 1945.37 -861.79
Total Assets 5075.67 4156.38 2480.74
Reserves & Surplus 787.92 467.06 -1254.74
Borrowings 1.55 0.33 1687.40
EBITDA Margin (%) 6.69%
PAT Margin (%) -8.43%
P/BV Ratio
14.10
RoNW
-12.50%
PAT Margin
-8.43%
EBITDA Margin
6.69%
Issue Structure & Shareholding
Total Shares Offered31,92,66,055 (100.00%)
Net Offer to PublicN/A
Reserved for Market MakerN/A
Pre-Issue Promoter Holding2,60,79,56,938 shares
Post-Issue Promoter Holding2,89,23,60,607 shares
P/BV Ratio14.10
RoEN/A
RoCEN/A
Debt / EquityN/A
Script CodeN/A
Registrar & Lead Managers
Book Running Lead Managers
Kotak Mahindra Capital Co.Ltd.
JP Morgan India Pvt.Ltd.
Goldman Sachs (India) Securities Pvt.Ltd.
Axis Capital Ltd.
GMP Disclaimer: Grey Market Premium data is unofficial and unregulated. It does not guarantee actual listing price.
IPO Subscription FAQs
How much PhysicsWallah Ltd. IPO subscribed?

PhysicsWallah Ltd. IPO is subscribed 1.00 times by Nov 13, 2025. Retail: 1.00x. QIB: 1.00x. NII: 1.00x.

Investor CategorySubscription
Qualified Institutional (QIB)1.00x
Non Institutional (NII/HNI)1.00x
Retail Individual1.00x
Total Subscription1.00x
What is PhysicsWallah Ltd. IPO retail subscription status?

The PhysicsWallah Ltd. IPO retail category is subscribed 1.00 times as of 13 Nov 2025. The retail portion is oversubscribed.

How to subscribe PhysicsWallah Ltd. IPO?

Subscribe via your broker app using ASBA or UPI. Opens 11 Nov 2025 and closes 13 Nov 2025. Min investment: ₹14,933 (1 lot = 137 shares). UPI mandate: 2025-11-13.

How many times PhysicsWallah Ltd. IPO subscribed?

The PhysicsWallah Ltd. IPO subscribed 1.00x overall. QIB: 1.00x, NII: 1.00x, Retail: 1.00x. Applications: from NSE/BSE.

How to check PhysicsWallah Ltd. IPO allotment?

Check allotment on the registrar website (MUFG Intime India Pvt.Ltd.) at https://linkintime.co.in/Initial_Offer/public-issues.html. Enter your PAN, application number or DP/Client ID. Allotment date: 14 Nov 2025. Refunds: on 17 Nov 2025.

When PhysicsWallah Ltd. IPO will be listed?

The PhysicsWallah Ltd. IPO listing date is 18 Dec 2025, Thursday. Listed on: NSE & BSE. Issue price: ₹109. Estimated listing: ₹109. GMP: NIL.

When PhysicsWallah Ltd. IPO close?

The PhysicsWallah Ltd. IPO closes on 13 Nov 2025, Thursday. UPI mandate: 2025-11-13. Allotment: 14 Nov 2025. Listing: 18 Dec 2025.