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15 Days Price Change

Physicswallah IPO

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WEBSITE Inc. Year: 2020 Industry: Educational Institutions Listed Page

Profile
Issue Size 2029.62 Cr
Profile
Price Range 103  to  109 per share
Profile
Min Investment ₹109
Profile
Lot Size 1
Profile
Face Value ₹1
Profile
Draft Prospectus
Invest Before the IPO Goes Live

Buy unlisted shares early and participate in the growth before public listing.

Profile
  • Basic Info
  • IPO Tentative Timetable
  • IPO Lot Size
  • Subscription Status
  • Financials
  • Profit & Loss
  • Balance Sheet
  • Cash Flow
  • Ratios
  • Growth Rates
  • Other info

Overview

We have sought to cultivate our student community by offering quality education. We provide content usingengaging and tech-enabled pedagogy (which means teaching methodologies). Further, a large portion of ourmaterials and courses are available in an open access or free format on our 207 YouTube channels (as at June 30,2025), with an option for students to sign up for free or paid courses on our website or our mobile applications(“apps”). Among the top 5 test preparation companies in terms of revenue as of Fiscal 2024, Some of our paidtest preparation courses focusing on Joint Entrance Examinations (“JEE”, an entrance exam of engineeringcolleges in India), National Eligibility cum Entrance Test (“NEET”, an entrance test for medical colleges in India)and civil service examinations such as Union Public Service Commission (“UPSC”) examinations, have the mostaffordable prices in India as at July 2025 (see, “Industry Overview” on page 240, para 2). For example, our basiconline “Batches” for JEE and NEET (our flagship offering), which includes “Arjuna JEE 3.0 2025”, “Prayas JEE2025”, “Lakshya NEET 2025”, “Arjuna NEET 3.0 2025”, “Yakeen NEET Hindi 3.0 2025”, and “Lakshya JEE 2.0 2025”, each of which is a one-year batch, are offered at a price range of ?2,199 to ?4,800 per Batch. Openaccess to quality education content along with affordable pricing for our paid courses have helped us create brandaffinity among students and encourage them to organically become our paid users. Read More

Basic Info

Face Value 1 per share

Price 103  to  109 per share

P/E (x) -121.1

Sales( Cr.) 2887

PAT( Cr.) -243

EPS -0.9

Draft Prospectus

Exchange BSE-NSE

Promoter

Company Promoters

Alakh Pandey Prateek Boob

Pre Issue Share Holding 80.7%

Post Issue Share Holding 72.3%

Listing Details:

Listing Price: 143.1

Listing Gain: 23.83%

Current Price: 106.7

Gain On Issue: 106.7 | 0%

GMP: 14

GMP %: 12.8 %

IPO Tentative Timetable

Opening Date Nov 11, 2025
Closing Date Nov 13, 2025
Allotment Nov 14, 2025
Refund Nov 17, 2025
Delivery of Shares Nov 17, 2025
Listing Date Nov 18, 2025

IPO Lot Size

Application Lots Shares Amount
Retail (Min) 1 137 14,933
Retail (Max) 13 1781 194,129
S-HNI (Min) 14 1918 209,062
S-HNI (Max) 66 9042 985,578
B-HNI (Min) 67 9179 1,000,511

Objective of the Issue

The Offer comprises a Fresh Issue of 284,468,537* Equity Shares of face value of ?1 each, aggregating to ?31,000.00* million by our Company and an Offer for Sale of 34,862,384* Equity Shares of face value of ?1 each, aggregating to ? 3,800.00* million by the Promoter Selling Shareholders.

Issue

Category Nos Bid Bid (x)
QIB 101155340 273575848 2.7x
NII 50577669 24424223 0.5x
Retail 33718446 35600272 1.1x
EMP 752688 2626701 3.5x
Total 186204143 336227044 1.8x

Net Sales (in cr.)

Total Income (in cr.)

Operating Profit (in cr.)

Net Profit (in cr.)

Shareholder Funds (in cr.)

Total Assets (in cr.)

Physicswallah Profit & Loss

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025 TTM
Net Sales 744 1941 2887
Other Income 28 75 152
Total Income 773 2015 3039
Total Expenditure 759 2916 2813
Operating Profit 14 -901 226
Interest 21 65 85
Depreciation 83 298 366
Exceptional Income / Expenses 0 71 -33
Profit Before Tax -89 -1193 -259
Provision for Tax -5 -62 -15
Profit After Tax -84 -1131 -243
Adjustments 3 91 27
Profit After Adjustments -81 -1040 -216
Adjusted Earnings Per Share -0.4 -4.8 -1

Physicswallah Balance Sheet

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025
Shareholder's Funds -183 -1246 1525
Minority's Interest 132 74 29
Borrowings 925 1649 0
Other Non-Current Liabilities 692 857 1092
Total Current Liabilities 510 1082 1432
Total Liabilities 2076 2416 4077
Fixed Assets 1121 1464 1586
Other Non-Current Assets 143 237 254
Total Current Assets 812 715 2237
Total Assets 2076 2416 4077

Physicswallah Cash Flow

#(Fig in Cr.) Mar 2023 Mar 2024 Mar 2025
Opening Cash & Cash Equivalents 7 49 53
Cash Flow from Operating Activities 270 212 507
Cash Flow from Investing Activities -1076 -43 -1513
Cash Flow from Financing Activities 848 -165 1007
Net Cash Inflow / Outflow 42 4 0
Closing Cash & Cash Equivalent 49 53 54

Physicswallah Ratios

# Mar 2023 Mar 2024 Mar 2025
Earnings Per Share (Rs) -0.38 -4.82 -0.99
CEPS(Rs) -0.01 -3.86 0.56
DPS(Rs) 0 0 0
Book NAV/Share(Rs) -1.16 -6.61 2.23
Core EBITDA Margin(%) -1.93 -50.25 2.55
EBIT Margin(%) -9.23 -58.1 -6
Pre Tax Margin(%) -12.02 -61.46 -8.96
PAT Margin (%) -11.3 -58.28 -8.43
Cash Profit Margin (%) -0.2 -42.91 4.27
ROA(%) -4.05 -50.36 -7.49
ROE(%) 0 0 0
ROCE(%) -8.89 -185.71 -17.62
Receivable days 6.21 3.77 4.36
Inventory Days 11.13 7.15 8.24
Payable days 496.9 364.72 469.51
PER(x) 0 0 0
Price/Book(x) 0 0 0
Dividend Yield(%) 0 0 0
EV/Net Sales(x) 0.58 0.83 0.3
EV/Core EBITDA(x) 31.2 -1.79 3.88
Net Sales Growth(%) 0 160.74 48.74
EBIT Growth(%) 0 -1540.7 84.64
PAT Growth(%) 0 -1245.38 78.49
EPS Growth(%) 0 -1177.33 79.48
Debt/Equity(x) -3.81 -1.18 0
Current Ratio(x) 1.59 0.66 1.56
Quick Ratio(x) 1.55 0.61 1.51
Interest Cover(x) -3.32 -17.33 -2.03
Total Debt/Mcap(x) 0 0 0

Sihora Industries Growth Rates

# 1 Year 3 Year 5 Year 10 Year
Sales CAGR 49% 0% 0% 0%
Operating Profit CAGR 0% 0% 0% 0%
PAT CAGR 0% 0% 0% 0%
# 1 Year 3 Year 5 Year 10 Year
Share Price CAGR NA% NA% NA% NA%
ROE Average 0% 0% 0% 0%
ROCE Average -18% -71% -71% -71%

Company Contact Information

Physicswallah Ltd.

Ajinkya Jain

+91 9289926531

investorsrelation@pw.live

Plot No. B-8 Tower A, 101-119 Noida One, Sector – 62, Gautam Buddha Nagar, Dadri

IPO Lead Manager(s)

Physicswallah Ltd.

Kotak Mahindra Capital Co Ltd

JP Morgan India Pvt Ltd

Goldman Sachs (India) Securities Pvt Ltd

Axis Capital Ltd.

Registrar Info

Physicswallah Ltd.

MUFG Intime India Pvt Ltd.

C 101, 247 Park, LBS Marg, Vikhroli (W), Mumbai (Old Address:) C-13 Pannalal Silk Compound, L B S Marg, Bhandup Mumbai Maharashtra

+91 810 811 8484

91-022-49186060

rnt.helpdesk@in.mpms.mufg.com

https://in.mpms.mufg.com/

Frequently Asked Questions

All You Need To Know About IPO

When you leave without vesting, generally unvested ESOPs are cancelled. Vested ESOPs usually can be exercised after you depart, often within 3 to 6 months, depending on the company's ESOP plan.

For companies listed on a stock exchange, you can sell the shares any time after you exercise the ESOP option and the shares are in your demat account. If the company is unlisted or otherwise a startup, you can only sell the shares if and when the company announces a buyback or has a process for secondary sales.

Whenever you exercised your options to hold shares, you entered into a market risk situation, and if the valuation of the company drops, so do the shares.

Yes. ESOPs are valuable to the employer in that the employer is able to retain the best talent, align employee interests with company goals, and preserve cash while rewarding performance.

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