Dailymirror.news, Mumbai, September 10, 2025: PhysicsWallah Limited, India’s largest education company by student community and among the top five in revenue, has filed its Updated Draft Red Herring Prospectus-I (UDRHP-I) with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO). The company’s flagship YouTube channel, “Physics Wallah-Alakh Pandey,” boasts approximately 13.7 million subscribers as of July 15, 2025, according to the Redseer Report.

The IPO, valued at up to ₹3,820 crore, includes a fresh issue of equity shares aggregating up to ₹3,100 crore and an Offer for Sale (OFS) of equity shares worth up to ₹720 crore, with a face value of ₹1 per share.

PhysicsWallah plans to utilize the net proceeds from the fresh issue for:
(i) Capital expenditure for fit-outs of new offline and hybrid centers.
(ii) Lease payments for existing offline and hybrid centers.
(iii) Investment in its subsidiary, Xylem Learning Private Limited, for capital expenditure on new offline centers and lease payments for existing centers and hostels.
(iv) Investment in its subsidiary, Utkarsh Classes & Edutech Private Limited, for lease payments of existing offline centers.
(v) Server and cloud infrastructure costs.
(vi) Marketing initiatives.
(vii) Acquisition of additional shareholding in Utkarsh Classes & Edutech Private Limited.
(viii) Funding inorganic growth through unidentified acquisitions and general corporate purposes.

The Offer for Sale, totaling ₹720 crore, includes ₹360 crore each from promoters Alakh Pandey and Prateek Boob.

PhysicsWallah provides test preparation courses for competitive exams and upskilling programs, delivered through:
(i) Online platforms, including its website and app.
(ii) Tech-enabled offline centers with live classes by faculty.
(iii) Hybrid centers featuring a two-teacher model, combining live online classes with in-person faculty support for doubt resolution and revision.

As per the Redseer Report, PhysicsWallah ranks among India’s top five education companies by revenue, with its YouTube community reaching 98.8 million subscribers by June 30, 2025, growing at a CAGR of 41.8% from 2023 to 2025. The company also has a strong offline presence, contributing significantly to its revenue, and is among the fastest-growing education firms in India between 2022 and 2024.

The equity shares offered through the Red Herring Prospectus are proposed to be listed on the BSE Limited (BSE) and the National Stock Exchange of India Limited (NSE).

Kotak Mahindra Capital Company Limited, J.P. Morgan India Private Limited, Goldman Sachs (India) Securities Private Limited, and Axis Capital Limited are the Book Running Lead Managers for the issue.