PhysicsWallah IPO Marks Landmark Entry in Edtech Sector

PhysicsWallah initiated its IPO, gathering 7% subscription on the first day. This prominent edtech company's IPO, valued at over Rs 31,500 crore, involves a fresh equity issue and Offer For Sale. The funds will accelerate expansion and support educational initiatives within competitive exam prep and upskilling domains.

The highly anticipated initial public offering of PhysicsWallah, an edtech unicorn, captured investor attention by garnering a 7% subscription on its first day. The IPO, which runs until November 13, offers shares valued at Rs 3,480 crore, attracting 1,31,22,682 subscriptions out of 18,62,04,143 available.

Retail investors subscribed to 33%, while non-institutional investors secured just 2% of shares, leaving the qualified institutional buyers category untouched thus far. Preceding the IPO, PhysicsWallah successfully raised Rs 1,563 crore from anchor investors, setting a price band between Rs 103 and Rs 109 per share and projecting a valuation exceeding Rs 31,500 crore.

The company, co-founded by Alakh Pandey and Prateek Boob, aims to utilize IPO funds for its growth and expansion strategy. Serving JEE, NEET, GATE, and UPSC aspirants with online and offline courses, PhysicsWallah greatly reduced its loss from Rs 1,131 crore to Rs 243 crore last fiscal year while boosting revenue to Rs 2,887 crore.

(With inputs from agencies.)