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Edtech major Physics Wallah (PW) has set a price band of INR 103 to INR 109 for its initial public offering (IPO), which is set to open on November 11 (Tuesday).
At the upper end of the price band, the IPO will value the company at INR 31,169 Cr (about $3.5 Bn). Notably, the company was last valued at $2.8 Bn during its funding round in September 2024
The anchor bidding for PW’s public issue will take place on November 10 (Monday), while the issue will close on November 13. The shares are expected to list on the exchanges on November 18.
The IPO comprises a fresh issue of up to INR 3,100 Cr and an offer for sale (OFS) of up to INR 380 Cr. Cofounders and promoters Alakh Pandey and Prateek Boob (Maheshwari) have cut their combined OFS size to INR 380 Cr from INR 720 Cr earlier.
PW will not undertake a pre-IPO placement.
A majority of the fresh proceeds will be used to expand the edtech company’s offline play. While a portion is allocated for fit-outs of new offline and hybrid centers, lease payments of existing identified offline and hybrid centres.
On the financial front, the edtech company reported a net loss of INR 125.5 Cr in the first quarter of the ongoing fiscal year (Q1 FY26), up 78% from INR 70.6 Cr a year ago. Operating revenue rose 33% to INR 847 Cr during the quarter from INR 635.2 Cr in Q1 FY25.
In FY25, PW managed to narrow its net loss by 78% to INR 243.3 Cr, while revenue from operations jumped 49% YoY to INR 2,886.6 Cr
(The story will be updated soon.)
The post Physics Wallah IPO: Price Band Set At INR 103-109, Seeks $3.5 Bn Valuation appeared first on Inc42 Media.
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