PhysicsWallah
Listed
Listed
IPO Timeline
Issue open date
11 Nov 2025Issue close date
13 Nov 2025UPI mandate deadline
13 Nov 2025Allotment finalization
14 Nov 2025Refund initiation
17 Nov 2025Share credit
17 Nov 2025Listing date
18 Nov 2025Mandate end date
28 Nov 2025Lock-in end date for anchor investors (50%)
14 Dec 2025Lock-in end date for anchor investors (remaining)
12 Feb 2026Grey Market Premium Trend
₹14
Current GMP
₹123
Est. Listing Price
12.8%
Est. Listing Gain
₹103 - ₹109
Price Band
GMP History
| Date | GMP (₹) | Est. Listing Price (₹) | Est. Listing Gain |
|---|---|---|---|
| 17 Nov | ₹14 | ₹123 | 12.84% |
| 16 Nov | ₹14 | ₹123 | 12.84% |
| 15 Nov | ₹9 | ₹118 | 8.26% |
| 14 Nov | ₹8 | ₹117 | 7.34% |
| 13 Nov | ₹6 | ₹115 | 5.05% |
| 12 Nov | ₹0 | ₹109 | 0.00% |
| 11 Nov | ₹1 | ₹110 | 1.15% |
| 10 Nov | ₹2 | ₹111 | 1.38% |
| 9 Nov | ₹3 | ₹112 | 2.75% |
| 8 Nov | ₹4 | ₹113 | 3.67% |
| 7 Nov | ₹4 | ₹113 | 3.67% |
| 6 Nov | ₹5 | ₹114 | 4.59% |
| 5 Nov | ₹5 | ₹114 | 4.59% |
| 4 Nov | ₹9 | ₹118 | 8.26% |
Key Dates
Open
11 Nov 2025Close
13 Nov 2025Listing
18 Nov 2025Quick Stats
Issue Size:3480cr
Lot Size:137 shares
About the Company
PhysicsWallah is an Indian education technology company founded by Alakh Pandey in 2020, offering comprehensive online and offline learning solutions for students from class 6-12 and competitive exam preparation including JEE, NEET, Civil Services, and other government examinations. The company provides live online classes, doubt resolution, test series, and operates offline coaching centers through PW Vidyapeeth and PW Pathshala models. With over 3.5 million registered students and 8 million YouTube subscribers, PhysicsWallah has established itself as a leading affordable edtech platform in India.
Strengths
- India’s first ed-tech unicorn to emerge profitably with strong brand recall among STEM learners.
- Robust hybrid model integrating online courses, offline centers, and learning products.
- Deep regional penetration through localized content in multiple Indian languages.
- Tech-enabled learning platform with data-driven personalization and engagement.
- Strong founder-led vision with successful scaling across K–12, test prep, and skilling.
Risks
- Heavy dependence on a few star educators for revenue and student retention.
- Intense competition from established ed-tech, offline, and hybrid education players.
- Government regulations around education content and student data may impact operations.
- Scaling offline centers exposes the company to high fixed costs and regional risks.
- Negative publicity linked to exam-related controversies or legal issues can hurt reputation.
PhysicsWallah IPO – Frequently Asked Questions
- The price band for the PhysicsWallah IPO is set at ₹103 to ₹109 per share.
- The PhysicsWallah IPO opens on November 11, 2025 and closes on November 13, 2025.
- The tentative listing date for the PhysicsWallah IPO is November 18, 2025.
- You can apply for the PhysicsWallah IPO via your broker or bank using ASBA or UPI. Log in to your trading app (Zerodha, Upstox, Groww, etc.), select IPO section, choose PhysicsWallah, enter lot quantity and UPI ID, then approve the mandate.
- The lot size for the PhysicsWallah IPO is 137 shares. Investors must apply for at least one lot (i.e., 137 shares).