PhysicsWallah IPO: Price band set at ₹103-109 per share

Physics Wallah, one of India’s most popular edtech companies, is gearing up for its first public share offering. The company has set a price band of ₹103–₹109 per share for its upcoming initial public offering (IPO), aiming for a valuation of around ₹280.73 billion ($3.5 billion) at the upper end, according to a report by Reuters.

Backed by investors like WestBridge and Hornbill Capital, Physics Wallah—until now a privately held company—plans to open its IPO for public subscription from November 11 to November 13, 2025. Anchor investors will be able to place their bids a day earlier, on November 10, while the stock is expected to list on Indian exchanges on November 17.

The company’s total IPO size is ₹34.8 billion, including a fresh issue worth ₹31 billion. Co-founders Alakh Pandey and Prateek Boob will sell shares worth about ₹3.8 billion, a smaller portion than the initially planned ₹7.2 billion.

Physics Wallah, which began as a YouTube channel before becoming a full-fledged edtech platform, has grown rapidly by offering affordable and accessible education across India. The IPO marks a major milestone in its journey from a bootstrapped startup to one of the most valuable education companies in the country.

If successful, the listing will not only boost investor confidence in India’s edtech sector but also highlight the growing appetite for digital learning businesses among public market investors.