PhysicsWallah IPO GMP, Price Band, Key Dates & Financials

PhysicsWallah IPO – An Overview and Company Insight

PhysicsWallah IPO GMP is already gaining traction in investor circles as this ed-tech unicorn prepares to step into India’s public markets. PhysicsWallah Ltd, founded by Alakh Pandey and Prateek Boob, started as a YouTube channel offering affordable competitive-exam coaching, and has grown into a multi-format education company offering online, hybrid and offline courses for JEE, NEET, UPSC, skill-up courses and more.
The upcoming IPO is structured as a mix of fresh issue + Offer for Sale (OFS). The fresh issue is intended to fund expansion of offline/hybrid centres, cloud/tech infrastructure, marketing and brand building, while promoters are selling part of their stake via the OFS. With its strong brand, large addressable market (India’s test-prep + upskilling space), and improved financials, PhysicsWallah’s public listing is poised to be one of the marquee IPOs in the education sector.

PhysicsWallah IPO – Grey Market Premium (GMP)

In the grey market, PhysicsWallah IPO GMP is showing early signs of positive sentiment. Reports indicate that at the upper end of the price band the premium is around ₹7–₹9 per share, which implies listing gains of roughly 6-8 % if this holds. Given the large issue size and hybrid business model (online + offline), the actual listing performance will hinge on subscription levels, anchor investor interest and the broader ed-tech sentiment.

Grey Market Premium – Snapshot

Metric	Estimate / Observation
Reported GMP	~ ₹7–9 above upper price band
Upper Price Band	₹ 109 per share
Implied Listing Price	~ ₹116-118 per share
Implied Gain	~ 6-8 %
Key Drivers	Brand strength, growth opportunity, unique value proposition
Key Risks	Large issue size, execution of offline expansion, highly competitive sector

PhysicsWallah IPO GMP 

Date	IPO GMP	GMP Trend	Gain
Today	₹4		3.66%
8 Nov	₹5		4.58%
7 Nov	₹5		4.58%
6 Nov	₹9		8.25%

Pricing Details and Lot Size – PhysicsWallah IPO

• Price Band: ₹ 103 to ₹ 109 per share (face value Re. 1)

• Minimum Lot Size: 137 shares

• Minimum Retail Investment: At the upper band price, 137 × ₹ 109 = ~ ₹ 14,933

• Issue Composition: Fresh issue ~ ₹ 3,100 crore + Offer for Sale ~ ₹ 380 crore (total ~ ₹ 3,480 crore)

• Allocation: Typically QIBs ~ 75 %, retail ~ 10-15 %, NIIs ~ remainder

IPO Timelines at a Glance – PhysicsWallah IPO

How To Check the Allotment Status of the PhysicsWallah IPO

Once the IPO closes and the allotment is finalised (expected ~14 Nov 2025), you can check your allotment status via:

• Registrar’s website: Visit the registrar’s (MUFG) “IPO Allotment Status” section → enter your PAN number / application number / demat ID → check status.

• NSE / BSE websites: Under Corporate Actions → IPO Allotment Status → select PhysicsWallah Ltd. → input your credentials to view allotment outcome.

Ensure you have your PAN, application number and demat account details ready.

Book-running Lead Managers and Registrar – PhysicsWallah IPO

• Book-running Lead Managers (BRLMs): Kotak Mahindra Capital Company, JP Morgan India, Goldman Sachs India Securities, Axis Capital

• Registrar: MUFG Intime India Pvt. Ltd.

Offer for Sale and IPO Size Breakdown – PhysicsWallah IPO

• Total Issue Size: ~ ₹ 3,480 crore

• Fresh Issue Component: ~ ₹ 3,100 crore

• Offer for Sale (OFS): ~ ₹ 380 crore
  Proceeds from the fresh issue will flow to the company for growth; OFS proceeds will go to the selling shareholders/promoters.

Utilisation of Fresh Issuance and Technological Advancements – PhysicsWallah IPO

The company plans to deploy the fresh issue proceeds in several key areas:

• Fit-out of new offline and hybrid centres (~ ₹ 460.5 crore)

• Lease payments for existing identified offline/hybrid centres (~ ₹ 548.3 crore)

• Investment in subsidiaries (Xylem Learning, Utkarsh Classes & Edutech) for new centres, leases, hostels

• Technology investment: server/cloud infrastructure (~ ₹ 200.1 crore)

• Marketing and brand-building (~ ₹ 710 crore)
  These strategic allocations reflect the company’s goal to scale its offline/hybrid infrastructure while strengthening its digital base and brand reach.

IPO Financial Information

In the fiscal year ended March 31, 2025, PhysicsWallah recorded revenue of ~ ₹ 2,887 crore, up from ~ ₹ 1,941 crore in the preceding year. The company narrowed its losses (≤ ₹ 243 crore) compared with the prior bigger loss year, indicating improving operational leverage. The company boasts a high-growth digital subscriber base (main YouTube channel ~13.7 million subscribers mid-2025) and is expanding offline centres rapidly. These metrics support the growth narrative, though profitability and scalability of offline/hybrid segment will be under investor scrutiny.

Conclusion

The PhysicsWallah IPO presents a unique opportunity to invest in a leading ed-tech brand that has scaled rapidly and is now combining online strength with offline/hybrid expansion. With PhysicsWallah IPO GMP showing early positive signs and the company’s improved financials backing the story, it may appeal to investors who believe in India’s skilling & test-prep market. That said, risks include execution of offline growth, large capital expenditure plans, competition in ed-tech, and profitability uncertainty. For those targeting medium-term growth, this IPO could be compelling. For those seeking short-term listing gain, the GMP and subscription levels will be critical.

Investing in IPOs Made Simple

If you’re planning to apply for IPOs like PhysicsWallah, it’s wise to open a demat account ahead of time so you’re ready when the issue opens. With TradeSmart, you get a streamlined platform, competitive brokerage, strong customer support, and the tools to participate confidently in IPOs and equity markets.

Disclaimer

This article is for informational purposes only and does not constitute investment advice or a recommendation to subscribe to the PhysicsWallah IPO. Investors should carefully read the Red Herring Prospectus (RHP), evaluate all risk factors, compare valuations with peer companies and consult a qualified financial advisor before making investment decisions. The PhysicsWallah IPO GMP value mentioned is indicative and subject to change. TradeSmart and its associates are not liable for any financial loss or decisions based on this content.