Price Band
₹103 - ₹109
Lot Size
137
Issue Size
₹3480 Cr
GMP
N/A
Subscription
1.92x
Analyzing...
IPO Schedule
1
Open
11 Nov 2025
2
Close
13 Nov 2025
3
Allotment
14 Nov 2025
4
Listing
18 Nov 2025
About PhysicsWallah Ltd
PhysicsWallah Ltd. is an ed-tech platform providing affordable and accessible education, particularly focused on test preparation for engineering and medical entrance exams. They offer online and offline courses, study materials, and mentorship to students across India.
Key Strengths
- Strong brand recognition and popularity among students, particularly in the affordable education segment.
- Large and engaged user base, creating a strong network effect.
- Diversified offerings across online and offline learning models, catering to different student preferences.
- Focus on vernacular languages and affordable pricing, expanding reach to underserved markets.
- Experienced leadership team with a proven track record in the ed-tech space.
Risk Factors
- •Negative P/E ratio indicates current lack of profitability, raising concerns about long-term financial sustainability.
- •Intense competition in the ed-tech industry from both established players and emerging startups.
- •Dependence on key personnel and instructors, potential loss of whom could negatively impact operations.
- •Inability to maintain current growth rate and user engagement could lead to decreased revenue.
Valuation Analysis
With a negative P/E ratio, traditional valuation metrics are difficult to apply, making the IPO valuation appear aggressive and heavily reliant on future growth expectations. Investors should carefully consider the risks associated with profitability and competition before investing.
IPO Details
ExchangeBSE
SegmentMAINBOARD
ISININE0LP301011
NSE SymbolPWL
Face Value₹1
Lot Size137
Issue Size₹3480 Cr
Key Metrics
ROE28.5
ROCE32.3
P/E Ratio45.5
Industry P/E20
EPS-0.93
PAT Margin-8.43%
Debt/Equity0.15
Growth & Quality
ProfitableNo ✗
Subscription
Total0.08x
Imbalance Ratio8.7x
Documents
Registrar
LINK
Key Dates
Open Date11 Nov 2025
Close Date13 Nov 2025
Allotment14 Nov 2025
Listing18 Nov 2025