How to Apply for the Physicswallah IPO: Step-by-Step Investment Guide

    PhysicsWallah is an education technology company that provides learning solutions for students preparing for various competitive and professional exams. Its core business revolves around offering affordable online courses, hybrid learning models, and skill development programmes across multiple educational categories. The company has developed a strong presence in both digital and physical learning spaces, supported by a large student base, experienced faculty, and proprietary technology tools. With a balanced mix of online and offline offerings, PhysicsWallah has established a significant position in India’s education sector, catering to learners from diverse regions and backgrounds.

    To apply for the PhysicsWallah IPO, investors can use online or offline methods. Alternatively, investors can submit an ASBA application through their bank’s net banking portal. Once the bid is confirmed, the application amount remains blocked until the allotment process is completed.

    For more details, visit the Physicswallah IPO page.

    Physicswallah IPO Details and Objectives

    Details

    Information

    IPO Date

    November 11, 2025 to November 13, 2025

    Issue Size

    31,92,66,054 shares

    (aggregating up to ₹3,480.00 Cr)

    Price Band

    ₹103 to ₹109 per share

    Lot Size

    137 shares

    Listing At

    BSE NSE

    Purpose of the IPO

    • Capital expenditure for fit-outs of new offline and hybrid centers of the Company

    • Expenditure towards lease payments of existing identified offline and hybrid centers operated by our Company

    • Capital expenditure for fit-outs of new offline centers of Xylem

    • Lease payments for Xylem’s existing identified offline centers and hostels

    • Investment in our Subsidiary, Utkarsh Classes & Edutech Private Limited for expenditure towards lease payments for Utkarsh Classes’ existing identified offline centers

    • Expenditure towards server and cloud related infrastructure costs

    • Expenditure towards marketing initiatives

    • Acquisition of additional shareholding in our Subsidiary, Utkarsh Classes & Edutech Private Limited

    • Funding inorganic growth through unidentified acquisitions and general corporate purposes

    Timeline of Physicswallah IPO

    Event

    Date

    IPO Open Date

    Tue, Nov 11, 2025

    IPO Close Date

    Thu, Nov 13, 2025

    Tentative Allotment

    Fri, Nov 14, 2025

    Initiation of Refunds

    Mon, Nov 17, 2025

    Credit of Shares to Demat

    Mon, Nov 17, 2025

    Tentative Listing Date

    Tue, Nov 18, 2025

    Cut-off time for UPI mandate confirmation

    5 PM on Thu, Nov 13, 2025

    Pricing & Lot Size of Physicswallah IPO

    Price Band for the IPO

    •  ₹103 to ₹109 per share

    Minimum Lot Size and Application Details

    Application

    Lots

    Shares

    Amount

    Retail (Min)

    1

    137

    ₹14,933

    Retail (Max)

    13

    1,781

    ₹1,94,129

    S-HNI (Min)

    14

    1,918

    ₹2,09,062

    S-HNI (Max)

    66

    9,042

    ₹9,85,578

    B-HNI (Min)

    67

    9,179

    ₹10,00,511

    Physicswallah IPO Application Process

    The Physicswallah IPO application process can be completed online through your trading platform. Below is a step-by-step guide to applying for the IPO:

    Step 1: Login to Your Trading Platform

    Access your trading account using the broker's app or website.

    Step 2: Navigate to the IPO Section

    Go to the IPO section to view active IPO listings.

    Step 3: Select the Open IPO and Click Apply

    Locate Physicswallah IPO in the list of available IPOs and click the ‘Apply’ button.

    Step 4: Enter the Quantity of Shares You Wish to Apply For

    Specify the number of shares (minimum lot size: 137 shares) within the price band of ₹103 to ₹109 per share.

    Step 5: Provide Your UPI ID

    Enter your UPI ID for payment authorization and ensure sufficient funds in your bank account.

    Step 6: Confirm the Application

    Review your application details and confirm the UPI mandate before 5 PM on the last application day.

    Step 7: Complete the Process and Wait for Allotment

    Submit the application and monitor the allotment status to check if shares have been allocated to you.

    Financial Health and Performance

    Key Financial Metrics

    • Total Assets: Grew from ₹2,082.18 crore in FY23 to ₹5,075.67 crore as of June 2025.

    • Total income: Reached ₹905.41 crore in FY25.

    • Profit After Tax (PAT): Stood at ₹-127.01 crore for June 2025.

    • Net Worth: Recorded at ₹1,867.92 crore in FY25.

    • Reserves and Surplus: Recorded at ₹787.92 crore (June 2025), growing steadily over the years.

    • EBITDA: Stood at ₹-21.22 crore in June 2025.

    Recent Performance and Growth Prospects

    • The company has shown consistent expansion in its asset base, reflecting its continued investment in infrastructure, technology, and offline centre growth.

    • Revenue has maintained an upward trajectory, supported by strong enrolments across online and hybrid learning models.

    • Although profitability has seen some pressure due to ongoing expansion costs, the company continues to prioritise long-term scalability and sustainable margins.

    • The overall financial position remains stable, backed by a healthy net worth and steadily increasing reserves, indicating effective capital management.

    • Operational performance reflects a focus on building capacity and enhancing student experience, which may yield improved profitability as the company reaches a more mature stage of growth.

    • With continued demand for online and blended learning, the company is well-placed to leverage its strong brand and diversified offerings for future growth.

    Investment Risks and Opportunities

    Potential Risks of Investing in the IPO

    • The company operates in a highly competitive education technology market, where pricing pressures and the entry of new players may affect its market share and profitability.

    • Expansion into offline and hybrid learning models involves significant costs, and delays in scaling these operations could impact overall financial performance.

    Opportunities and Growth Potential

    • Growing demand for affordable and accessible online education across urban and non-urban regions provides scope for sustained expansion.

    • The company’s strong brand visibility, diversified course portfolio, and investment in technology infrastructure position it to benefit from the increasing shift towards digital and blended learning models.

    Key Performance Indicator (KPI)

    KPI

    Values

    RoNW

    -12.50%

    PAT Margin

    -8.43%

    EBITDA Margin

    6.69%

    Price to Book Value

    14.10

    Market Capitalization

    31526.73

    Physicswallah IPO Registrar & Lead Managers

    Registrar

    Lead Manager(s)

    MUFG Intime India Pvt.Ltd.

    Kotak Mahindra Capital Co.Ltd. 

    Company Address of Physicswallah Ltd

    PhysicsWallah Ltd. B 8, Block B, Industrial Area, Sector 62, Noida, Uttar Pradesh, 201309

    Phone: +91 9289926531

    Email: investorsrelation@pw.live

    Website: https://www.pw.live/

    Conclusion

    PhysicsWallah’s public issue highlights its efforts to strengthen its position in the education technology industry through the expansion of online and offline learning platforms. The company has diversified its portfolio across multiple education categories and continues to focus on improving accessibility and learning outcomes through technology integration and content development.

    The funds raised through the IPO are planned to be utilised for capital expenditure, lease payments, infrastructure, and marketing activities. The company’s financial performance, operational structure, and business strategy together reflect its ongoing adaptation to changing learning preferences within India’s education sector.

    Interested in more opportunities? Check out our Upcoming IPO section for new listings and don’t forget to check your Physicswallah IPO allotment status.

    Frequently Asked Questions

    Published Date : 10 Nov 2025

    Disclaimer :

    Investments in securities market are subject to market risk, read all related documents carefully before investing. This content is for educational purposes only. Securities quoted are exemplary and not recommendatory.


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    Content Partner - Dalal Street Investment Journal Wealth Advisory Private Limited



    This article is for educational purposes only and should not be considered investment advice. Market investments are subject to risks. DSIJ Wealth Advisory Private Limited is a SEBI-registered Research Analyst (Reg. No: INH000006396) and Investment Adviser (Reg. No: INA000001142). Please consult your financial adviser before investing. 

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