The IPO of leading edtech company Physicswala will open for subscription on November 11. This IPO will close on 13 November. Physicswala will raise a total of ₹3,480 crore through this IPO for its expansion plans. New shares worth ₹3,100 crore will be issued in this IPO, while the promoters will issue shares worth ₹380 crore through OFS. The company’s promoters, Alakh Pandey and Prateek Boob, will sell shares worth ₹190 crore in this IPO.
Alakh Pandey and Prateek Boob hold 40.31 percent stake.
Alakh Pandey and Prateek Boob hold 40.31 percent stake in the company. Noida-based Physicswala had filed its IPO documents with the Securities and Exchange Board of India (SEBI) in March and received the market regulator’s nod in July. The company chose the confidential pre-filing route for its IPO, allowing it to defer public disclosure of IPO details until later stages. Physicswala said ₹460.5 crore of the proceeds from the fresh share issue will be spent on setting up new offline and hybrid centres. ₹548.3 crore will be used to pay the lease of existing centres.
The amount will be invested in Xylem Learning
Additionally, Physicswala will invest ₹47.2 crore in its subsidiary, Xylem Learning. This includes ₹31.6 crore for new centers and ₹15.5 crore for lease payments and hostels. Physicswala, backed by Westbridge Capital, Hornbill and GSV Ventures, reported narrowing of its loss to ₹243 crore in FY2024-25 from ₹1,131 crore a year earlier. However, the company’s revenue rose to ₹2,887 crore in the last fiscal year, compared to ₹1,941 crore a year earlier.
The company will be listed on the Indian stock exchange on November 18.
After the closure of the IPO on November 13, the allotment of shares will take place on November 14 and the shares will be credited to the demat accounts of investors on November 17. It will be a mainboard IPO, which will be listed on both the major Indian stock market indices, BSE and NSE, on November 18. The company has appointed Kotak Mahindra Capital Company, JP Morgan India, Goldman Sachs (India) Securities and Axis Capital to manage its IPO.
