PhysicsWallah Shares Listing: Edtech company Physicswala has made a strong debut in the stock market. The shares of the company have been listed on BSE and NSE today on 18th November. The company’s shares are listed on NSE at Rs 145 with a premium of 33%. It is listed on BSE at Rs 143.10 with a premium of 31.28 percent. However, the price band of the IPO was fixed at Rs 103 to Rs 109.
This IPO was opened for subscription on 11 November. The company had made a lot of 137 shares. The size of this IPO was Rs 3480.71 crore. The company had issued 28.45 crore fresh shares through IPO and the offer for sale shares was 3.49 crore fresh shares.
What does the company do?
Alakh Pandey and Prateek Boob together started Physicswala in 2014, which was earlier just a small YouTube channel. Today it has become India’s largest and popular edtech company. By June 2025, there are 1.37 crore subscribers on its main channel, 44.6 lakh children are taking paid courses and 303 offline coaching centers have opened across the country. PhysicsWallah provides courses to students for the preparation of competitive exams like JEE, NEET, UPSC, both online and offline. Apart from this, it also offers upskilling courses like Data Science, Analytics, Banking and Finance, Software Development.
The company’s online services are available through its website, app and social media channels. Additionally, Physicswala has also started tech-enabled offline centers and hybrid learning centers across the country, where students can study through both online and classroom modes.
Where will the company use this fund?
The company plans to use the funds raised from this IPO to add more courses and launch new education categories in many Indian languages, so that more students can be reached. The company wants to expand into new sectors. There is a plan to buy such companies which provide good products or services for students, so that they can improve their tech and offerings.
Physicswala’s IPO is a big deal for India’s edtech sector. This shows that now it is not enough to be popular online, it is necessary to become a real big business. The company’s income was Rs 772 crore in FY23, which has crossed Rs 3000 crore in FY25. Meaning the brand is very strong and students come here again and again. But there is no profit yet. The total loss from FY23 to FY25 has exceeded Rs 1400 crore. That means right now the company is spending more money and earning less. Therefore the valuation of IPO looks quite expensive. According to the report of Moneycontrol, Bhavik Joshi, Business Head of INVasset PMS, says – “This IPO is not a bet on current profits, but on the story of the coming 10-15 years. If the company continues to run well, then money will be made, otherwise it can be difficult.”
Financial Performance of Physicswala
Physicswala’s revenue in FY25 increased by 51% from last year to Rs 3,039 crore. The company has come out of loss and has come into profit. Last year i.e. FY24, there was a loss of Rs 1,131 crore, but this year there was a net profit of Rs 243 crore. The EBITDA margin of the company has also reached 6.7%.
Talking about the competitors of Physicswala, these are big companies like Byju’s, Unacademy, Vedantu and Gradeup. But PW is different from all these because it keeps education very affordable and runs classes in local languages like Hindi, Bhojpuri, Tamil, Telugu. Apart from this, not every child can take expensive courses, but PW courses are available for Rs 4-5 thousand, that too in their mother tongue, this is the reason why lakhs of children from small towns and villages are preparing for JEE-NEET by joining PW today.
