PhysicsWallah IPO: Alakh Pandey’s Edtech Revolution Hits Dalal Street with ₹3,480 Crore Debut

India’s most inspiring edtech success story is ready to enter a new chapter. PhysicsWallah (PW), co-founded by Alakh Pandey and Prateek Boob, is set to launch its much-awaited ₹3,480 crore Initial Public Offering (IPO) on November 11, 2025, marking a major milestone not only for the startup itself but for the entire Indian edtech ecosystem.

The IPO, which has already created waves across financial markets and startup circles, values PhysicsWallah at an estimated ₹28,073 crore ($3.2 billion). With this move, the platform — which began as a YouTube teaching channel — is set to become India’s first listed edtech company.

💼 IPO Details: Everything You Need to Know

ParticularsDetailsIPO Open DateNovember 11, 2025IPO Close DateNovember 14, 2025Anchor Investor BiddingNovember 8, 2025Price Band₹103 – ₹109 per shareTotal Issue Size₹3,480 croreFace Value₹1 per shareListing onBSE & NSELot Size135 shares per lotMinimum Investment₹14,715Valuation₹28,073 croreLead ManagersSBI Capital Markets, ICICI Securities, Kotak Mahindra Capital

The issue comprises both fresh equity shares and an offer-for-sale (OFS) component by existing investors, including WestBridge Capital and GSV Ventures, who plan to partially offload their holdings.

📊 Fund Utilisation Plan

PhysicsWallah plans to deploy the IPO proceeds strategically to fuel its long-term growth. The funds will be allocated as follows:

• ₹1,200 crore – Expansion of offline “PW Vidyapeeth” learning centres across 25 new Indian cities.

• ₹800 crore – Development of next-generation AI-based adaptive learning technology and data analytics systems.

• ₹600 crore – Strategic acquisitions and collaborations with regional edtech startups.

• ₹400 crore – Brand awareness campaigns and global expansion initiatives.

• ₹480 crore – Working capital and general corporate purposes.

💡 Company Overview: From Chalkboard to IPO Board

PhysicsWallah’s rise is nothing short of phenomenal. Founded in 2016 as a YouTube channel by Alakh Pandey, a teacher from Prayagraj, the platform became a beacon of affordable education for millions of students preparing for IIT-JEE, NEET, and other competitive exams.

By 2022, PhysicsWallah had achieved unicorn status, valued at over $1 billion after raising $100 million in its maiden funding round led by WestBridge Capital and GSV Ventures.

Today, the company operates a diversified ecosystem that includes:

• PW App and PW Website (70+ lakh active users)

• PW Vidyapeeth (Offline coaching centres in 50+ cities)

• PW Skills (Upskilling and professional certification platform)

• PW Foundation (Scholarship and social outreach initiatives)

💰 Financial Performance Snapshot

Fiscal YearRevenue (₹ Cr)Net Profit / (Loss) (₹ Cr)FY2278097FY231,890184FY242,560242Q1 FY25980-125 (loss due to expansion)

Despite a recent quarterly loss attributed to infrastructure expansion, PhysicsWallah remains one of the few profitable Indian edtech startups at scale — a feat unmatched by industry peers like BYJU’S and Unacademy.

🌟 Founders Enter Billionaire Club

According to Moneycontrol and MSN, the IPO catapults Alakh Pandey and Prateek Boob into India’s billionaire club, each holding approximately 20% stake in the company post-IPO.
Their journey — from modest beginnings to the pinnacle of financial success — has become a case study in perseverance, vision, and educational integrity.

Pandey, often called “The People’s Teacher,” continues to command immense respect among India’s student community for his relatable teaching style and mission to democratize education.

🧠 Market Sentiment and Grey Market Premium (GMP)

As per Hindustan Times and IPO Central, the GMP (Grey Market Premium) for the PhysicsWallah IPO stands at ₹65-₹72 per share, signaling strong investor confidence.

Market analysts predict a 20–25% listing gain, driven by:

• Positive brand recall across India

• Profitable financial record

• Affordable pricing band

• Rapid offline expansion strategy

📈 SWOT Analysis: The Real Growth Story

Strengths

• Proven profitable business model

• Strong brand equity and loyal student base

• Multi-channel education strategy (online + offline)

• High operational efficiency

Weaknesses

• Rising competition in affordable edtech segment

• Dependence on test-prep vertical

Opportunities

• Global edtech expansion (Middle East, Southeast Asia)

• AI-powered learning innovations

• Partnerships with public institutions

Threats

• Regulatory changes in online education

• Declining margins due to price-sensitive markets

🔍 Expert Opinions

“PhysicsWallah’s IPO marks a maturity phase for Indian edtech — from survival to sustainability,” said Ravindra Sonavane of Moneycontrol.

“Unlike its peers, PW’s profitable track record gives investors a clear value proposition,” added Dhanya Nagasundaram of LiveMint.

Even Business Today highlighted how this IPO could reset the valuation benchmark for Indian education startups aiming for public listings.

🏦 Investor Outlook: A Promising Bet

Market observers suggest that retail investors, institutional funds, and anchor investors are likely to show strong interest in the PhysicsWallah IPO, considering:

• The company's consistent revenue growth,

• Proven profitability, and

• Widespread brand trust among youth.

With over 25 million students impacted by PW’s platforms and thousands of employees, the IPO signals the arrival of a new era for India’s education technology sector.

✨ Conclusion: India’s Edtech Unicorn Turns Market Icon

PhysicsWallah’s ₹3,480 crore IPO is not just a financial event — it’s a symbol of India’s digital education revolution.

From a one-room YouTube classroom to Dalal Street, Alakh Pandey’s journey embodies the power of purpose-driven entrepreneurship. The IPO’s success could redefine how investors perceive edtech — not as a risky experiment but as a sustainable, scalable, and impactful industry.

As November 11 approaches, all eyes are on the listing that could inspire a generation of educators and entrepreneurs to dream bigger.