PhysicsWallah IPO Opens Today; ₹1,563 Crore Raised from Anchor Investors at ₹109 per Share

Nov 11, 2025 – Edtech giant PhysicsWallah (PW) IPO is hitting the public market, launching its ₹3,480-crore IPO, which will be open for subscription status from today, until November 13.

The company is already riding a wave of strong institutional demand, having just locked in over ₹1,563 crore from anchor investors. These institutions bought shares at the top price of ₹109, signalling strong confidence before the public has even had a chance to bid.

PhysicsWallah Key Anchor Investors

The company’s anchor book was exceptionally strong, raising ₹1,563 crore at the upper price band of ₹109/share. Following were the key Anchor Investors in the IPO as per the information available on exchange

1. Smallcap World Fund Inc
2. ICICI Prudential Flexicap, Technology & Equity–Debt Funds
3. Kotak Mahindra Trustee (Tech, ELSS & Small Cap Funds)
4. Nippon India Small Cap, Multi Cap & Flexi Cap Funds
5. Goldman Sachs India Equity Portfolio
6. TIMF Holdings
7. Franklin Templeton Investment Funds
8. Aditya Birla Sun Life Funds (Digital India, Balanced Advantage, Special Opportunities)
9. DSP Multicap & Dynamic Asset Funds
10. PGIM India, Tata, Invesco, and Helios mutual funds

Significantly, in excess of 55% of the anchor book went to 14 domestic mutual funds, reflecting strong local belief in the future of the company.

PhysicsWallah IPO Structure

The IPO will close on November 13, with allotment expected on November 14 and listing scheduled for November 18, 2025.

• Total Issue: ₹3,480 crore
• Fresh Issue: ₹3,100 crore
• OFS: ₹380 crore
• Price Band: ₹103 – ₹109
• Lot Size: 137 shares
• Listing: November 18, 2025 (BSE & NSE)

PhysicsWallah Use of Proceeds

As per the RHP of the IPO net proceeds will be utilized mainly for strategic growth, including:

1. Offline/Hybrid Center Expansion
2. Marketing & Brand Initiatives
3. Technology & Cloud Infrastructure
4. Funding of Subsidiaries – Xylem, Utkarsh

PhysicsWallah leads the edtech platforms, with 4.5M paid learners and more than 300 centers, aggressively expanding into the hybrid/offline model, while the market’s initial institutional response is very positive.

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