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
| Category | Shares Offered* | Total Amt* (₹ Cr.) |
|---|---|---|
|
QIB (Ex Anchor)
|
238,919,238 | ₹2,604.220 |
|
NII
|
47,783,848 | ₹520.840 |
|
Retail
|
31,855,898 | ₹347.230 |
|
Employees
|
707,071 | ₹7.710 |
| Total ** | 319,266,055 | ₹3,480.000 |
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min — 2 Lots) | 2 | 274 | ₹29,866 |
| Retail (Max — 13 Lots) | 13 | 1,781 | ₹194,129 |
| S-HNI (Min — 14 Lots) | 14 | 1,918 | ₹209,062 |
| S-HNI (Max — 66 Lots) | 66 | 9,042 | ₹985,578 |
| B-HNI (Min — 67 Lots) | 67 | 9,179 | ₹1,000,511 |
| Category | QIB | NII | Retail | Employees | Total | ||||
|---|---|---|---|---|---|---|---|---|---|
| Ex. Anchor | Anchor Investor | Total QIB | Below ₹10L | Above ₹10L | Total NII | ||||
| Allocation (No. of shares) | — | — | — | — | — | 47,783,848 | 31,855,898 | 707,071 | 80,346,817 |
| Allotment price (Rs.) | 109 | 109 | 109 | 109 | 109 | 109 | 109 | 109 | 109 |
| No. of applications | — | — | — | — | — | — | — | — | — |
| No. of shares applied | — | — | — | — | — | — | — | — | — |
| Amount collected (Rs.cr.) | 2,604.22 | — | 2,604.22 | — | — | 520.84 | 347.23 | 7.71 | 3,480.00 |
| No. of times subscribed | — | — | — | — | — | — | — | — | — |
| No. of shares allotted | — | — | — | — | — | 47,783,848 | 31,855,898 | 707,071 | 80,346,817 |
| Amount (Rs.cr.) | 2,604.22 | — | 2,604.22 | — | — | 520.84 | 347.23 | 7.71 | 875.78 |
| No. of allottees | — | — | — | — | — | — | — | — | — |
| Category | Shares Offered | Amt (₹ Cr) | Size (%) |
|---|---|---|---|
| QIB (Ex Anchor) | 238,919,238 | ₹2,604.22 |
74.83%
|
| NII / HNI | 47,783,848 | ₹520.84 |
14.97%
|
| Retail (RII) | 31,855,898 | ₹347.23 |
9.98%
|
| Employee | 707,071 | ₹7.71 |
0.22%
|
| Total | 319,266,055 | ₹3,480.00 |
100.00%
|
| Particulars | 30 Jun 2025 | 31 Mar 2025 | 31 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 |
| Total Borrowings | 1.55 | 0.33 | 1687.40 |
| EBITDA Margin (%) | 6.69% | — | — |
| PAT Margin (%) | -8.43% | — | — |
PhysicsWallah Ltd. proposes to utilize the net proceeds raised through this IPO for the following objects as stated in the Draft Red Herring Prospectus (DRHP) filed with SEBI: