The ₹3,480 crore IPO of PhysicsWallah has closed with impressive investor interest, marking a major milestone for one of India’s fastest-growing edtech brands. By the final day, the public issue was fully subscribed and received almost twice the number of bids compared to the shares offered. The demand shows that investors across categories believe in the company’s long-term potential, even as it continues to balance growth and profitability.
Strong Investor Response Boosts Market Confidence
The IPO offered about 18.62 crore shares to the public, but applications came in for nearly 33.69 crore shares, pushing the overall subscription to around 1.92 times. Retail investors showed healthy participation, subscribing slightly above their allotted portion. However, the strongest demand came from large institutional buyers, who subscribed their quota nearly three times. This signals that professional investors with deep market understanding see strong potential in PhysicsWallah’s business model. Even though the non-institutional investor category saw lower demand, the overall response remained solid, creating a positive market sentiment ahead of the listing.
Key IPO Details Explained in Simple Words
The IPO price range was set between ₹103 and ₹109 per share, making it accessible to everyday investors. Anyone applying for the minimum lot of 137 shares needed to invest roughly ₹14,900 at the upper price band. The public issue remained open from 11 November to 13 November 2025, and the company is scheduled to list on 18 November 2025. Once listed, investors will be able to buy and sell the shares freely on the stock market. The IPO’s structure and pricing focused on attracting a wide range of investors, especially those who have followed PhysicsWallah’s journey from a YouTube teaching channel to a multi-city education brand.
A Growing Edtech Brand with Rapid Expansion
PhysicsWallah has become a prominent name in India’s education landscape. The company, known for its affordable coaching classes and digital learning tools, has rapidly expanded its physical footprint. As of Q1 FY26, it operates more than 300 centres across various business verticals, a significant growth from the previous year. The company also reported strong revenue performance, with income rising nearly 33 percent year-on-year to around ₹847 crore. However, the business is still working toward profitability. In the same quarter, PhysicsWallah recorded a net loss of about ₹125.5 crore as operational and expansion-related expenses increased. Even so, the steady rise in revenue shows that the demand for its services remains strong, and its balanced mix of online and offline learning has helped the brand connect with millions of students.
What This Means for the Future
The successful subscription of the IPO highlights the confidence investors have in India’s education technology sector. For PhysicsWallah, this moment marks a new phase of growth. With fresh funds, the company is expected to invest in better technology, expand its learning centres, and strengthen its academic offerings. The upcoming stock market listing will be another important moment, as the market will reveal whether the excitement seen during the IPO continues into trading. While the company still faces challenges like controlling costs and achieving profitability, the strong subscription numbers suggest that investors expect solid long-term performance. PhysicsWallah now stands at the beginning of its journey as a publicly traded company, with the support of the market and the expectations of millions watching closely.