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PhysicsWallah Limited led by Alakh Pandey filed for a Rs 3820 crore IPO, aiming to expand tech centers and AI tools.
PhysicsWallah IPO files UDRHP with Sebi.
PhysicsWallah IPO: PhysicsWallah Limited filed an Updated Draft Red Herring Prospectus with the market regulator Sebi on September 06. Alakh Pandey-led edtech company is planning to raise Rs 3,820 crore through the initial public offering (IPO). The firm offers test preparation for aspirants of JEE, NEET, UPSC and other government exams, upskilling and professional courses through online, offline and hybrid model.
5 Key Things One Should Know About PhysicsWallah IPO:
1. IPO Details
PhysicsWallah IPO comprises fresh issue of Rs 3,100 crore and an offer for sale of Rs 720 crore by promoters Alakh Pandey and Prateek Maheshwari. It is a book-built issue.
2. PhysicsWallah IPO Objective
The proceeds from the IPO will be used for:
- Expansion of tech-enabled offline & hybrid centers
- Investment in tech platforms, AI learning tools (like AI Guru & Alakh AI)
- Working capital requirements
- Repayment/prepayment of certain borrowings
- General corporate purposes
3. PhysicsWallah Limited Financials
PhysicsWallah Limited reported that its revenue from operations for FY23, FY24 and FY25 stood at Rs 743 crore, Rs 1940 crore, and Rs 2886 crore. However, the company reported a consistent loss during these three fiscal years: Rs 84 crore in FY23, Rs 113 crore in FY24 and Rs 243 crore in FY25.
In the net worth segment, the company turned positive in FY25 at Rs 1945 crore, against Rs -861 crore in FY24. The company had minimal borrowings of Rs 3 crore as of March 31, 2025.
The company received a mix portion of revenue from both offline and online segments.
4. About PhysicsWallah
Physics Wallah (PW) is an Indian educational technology (EdTech) company founded by Alakh Pandey and Prateek Maheshwari in 2020, though it began as a popular YouTube channel in 2016. PW provides affordable online and offline courses for K-12 students and those preparing for competitive exams like JEE, NEET, and UPSC, using a mix of live and recorded classes, test series, and study materials.
5. Book Running Lead Managers
Kotak Mahindra Capital Company, JP Morgan India Private, Goldman Sachs (India) Securities and Axis Capital are lead book running managers. MUFG Intime India is the registrar of the offer.
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst…Read More
Varun Yadav is a Sub Editor at News18 Business Digital. He writes articles on markets, personal finance, technology, and more. He completed his post-graduation diploma in English Journalism from the Indian Inst… Read More
September 07, 2025, 12:21 IST
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