PhysicsWallah sets IPO price band at Rs 103-109/share; aims to raise Rs 3,480-cr
New Delhi (PTI): Edtech unicorn PhysicsWallah on Thursday fixed a price band of Rs 103-109 per share for its upcoming initial public offering (IPO), aiming for a valuation of over Rs 31,500 crore at the upper end.
The company's Rs 3,480-crore maiden public offering will open on November 11 and conclude on November 13 and anchor investors will be allocated shares on November 10, according to its public announcement.
The upcoming IPO comprises a fresh issue of equity shares worth Rs 3,100 crore and an offer for sale (OFS) of shares aggregating up to Rs 380 crore by promoters.
Promoters Alakh Pandey and Prateek Boob will each offload shares worth Rs 190 crore through the OFS. At present, both hold 40.31 per cent stake each in the company.
The Noida-based company filed draft papers in March with Sebi for an IPO through a confidential pre-filing route and had received the market regulator's approval in July. Following this, the company filed an updated DRHP in September before filing an RHP.
The company opted for the confidential pre-filing route, which allowed it to withhold public disclosure of IPO details until later stages.
Funds will be based to fuel the company's expansion and growth initiatives.
Of the fresh issue proceeds, PhysicsWallah said Rs 460.5 crore will go towards fit-outs of new offline and hybrid centers and Rs 548.3 crore will be used for lease payments of existing centers.
Also, the company will invest Rs 47.2 crore in its subsidiary Xylem Learning, including Rs 31.6 crore for new centers and Rs 15.5 crore for lease payments and hostels.
A further Rs 33.7 crore will be directed to Utkarsh Classes & Edutech for lease payments of its centers. Additionally, Rs 200.1 crore is earmarked for server and cloud infrastructure, Rs 710 crore for marketing initiatives, and Rs 26.5 crore for acquiring additional stake in Utkarsh Classes.
PhysicsWallah offers test preparation courses for competitive exams focusing on JEE, NEET, GATE and UPSC along with upskilling programs, delivered through online platforms (YouTube, website, and apps), tech-enabled offline centers, and hybrid centers that combine online teaching with in-person support.
Its main YouTube channel, "Physics Wallah-Alakh Pandey," had about 13.7 million subscribers as of July 15, 2025, while its overall YouTube network had 98.8 million subscribers by June 30, 2025, growing at a CAGR of 41.8 per cent between FY23 and FY25. Apart from its strong digital presence, PhysicsWallah has also built a significant offline footprint.
The company, which is backed by WestBridge Capital, Hornbill, and GSV Ventures, narrowed its losses to Rs 243 crore in the year ended March 2025 from Rs 1,131 crore in the preceding year. However, revenue rose to Rs 2,887 crore, from Rs 1,941 crore in the same period.
According to the company, 75 per cent of the issue size has been reserved for qualified institutional buyers, 15 per cent for non-institutional investors and the remaining 10 per cent for retail investors.
PhysicsWallah will make its stock market debut on November 18.
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Xi, Trump reach series of new common understandings: China's foreign ministry
Beijing (PTI): Chinese President Xi Jinping and his US counterpart Donald Trump had an in-depth exchange of views on major issues concerning the two countries and the world, and reached a series of new common understandings, a Chinese foreign ministry spokesperson said Friday.
Xi and Trump, who is on a three-day visit to China, met twice on Thursday and discussed a range of bilateral and global issues.
Trump is due to leave on Friday after a luncheon meeting with Xi.
Summing up the outcomes of Trump’s visit to Beijing, a Chinese Foreign Ministry spokesperson said the two presidents had an in-depth exchange of views on major issues concerning the two countries and the world and reached a series of new common understandings.
They agreed on a new vision of building a constructive China-US relationship of strategic stability to provide strategic guidance for bilateral relations over the next three years and beyond.
The two presidents also agreed to promote the steady, sound and sustainable development of China-US relations, and bring more peace, prosperity and progress to the world, said a statement by the ministry’s spokesperson.
Trump visited China at the invitation of Xi.
The two presidents are meeting in person again for the first time since their Busan meeting last October, and it is the first visit to China by a US president in nine years, the statement said.
On Thursday, President Xi held a welcome ceremony and a banquet for Trump, held talks and visited the Temple of Heaven with him.
VIDEO | Beijing: On second day of bilateral talks, US President Donald Trump (@POTUS) thanks Chinese President Xi Jinping for 'incredible' China trip.
— Press Trust of India (@PTI_News) May 15, 2026
Trump says, "Thank you very much. This has been an incredible visit. I think a lot of good has come of it. We've made some… pic.twitter.com/7A7lbEzLdC
