PhysicsWallah Ltd get listed on BSE and NSE at a 40% premium to the IPO price of Rs 109 per share

Shares of PhysicsWallah Ltd get listed on BSE and NSE at a 40 per cent premium to the IPO price of Rs 109 per share. On BSE, the stock traded at an Intraday high of Rs 162.05 per share and on NSE, the stock traded at an intraday high of Rs 162 per share.

PhysicsWallah Ltd, a leading ed-tech company, is launching its Initial Public Offering (IPO) with the upper price band of Rs 109 per share. The issue, totaling Rs 3,480 crore, comprises a fresh issue of Rs 3,100 crore and an Offer for Sale (OFS) of Rs 380 crore. Investors got a lot of 137 shares, with a minimum investment of Rs 14,933. The IPO closes on November 13, 2025, with the equity shares listed on the NSE and BSE today, November 18, 2025. The proceeds will primarily fund the expansion of digital content, marketing, and research initiatives.

Founded in 2020, PhysicsWallah has built a strong brand presence in the rapidly growing Indian ed-tech sector, providing online and offline coaching for competitive exams. The company boasts significant scale, with 4.13 million unique online users and 0.33 million enrolled offline students as of June 30, 2025, supported by over 6,200 faculty members and 303 offline centres. The overall Indian ed-tech market is projected to grow at a CAGR of 30-35 per cent to over Rs 50,000 crore by 2027. Despite a strong market position and growth opportunities such as international expansion and AI-powered tools, the company is currently loss-making, with a Profit After Tax of -Rs 243.26 crore for the period ending March 31, 2025.

The company's current valuation metrics are significantly elevated, trading at a Price to Book Value of 14.10x and an EV/EBITDA multiple of 100.76x. These high multiples underscore that the IPO is priced on the expectation of future growth rather than current financial performance, especially given the company’s recent losses. While PhysicsWallah has strong long-term potential due to its market leadership, diverse offerings, and proprietary technology, its lack of immediate profitability and demanding valuation make it a less attractive near-term investment for risk-averse investors, despite the robust industry tailwinds.

Disclaimer: The article is for informational purposes only and not investment advice.