Anchor investor backs PhysicsWallah with Rs 136 Cr at 17% premium ahead of IPO

Global investment firm Think Investments has infused Rs 136 crore into PhysicsWallah (PW) through a secondary share transaction, underscoring strong investor confidence in the edtech firm ahead of its upcoming public listing. 

The deal was executed at Rs 127 per share, a 17% premium over the IPO’s upper price band of Rs 109.

As part of the transaction, Think Investments picked up 1.07 crore shares, translating to a 0.37% stake in the company, according to a PTI report. Notably, none of the founders participated in the secondary sale, signaling their continued faith in PW’s growth trajectory and long-term vision.

Between January and July 2025, PhysicsWallah had also seen heightened investor activity through a series of ESOP liquidations facilitated by Funds India (a WestBridge subsidiary), at prices ranging between Rs 127 and Rs 137 per share. Several family offices participated through these tranches, collectively investing around Rs 100 crore, further reflecting sustained investor appetite for the edtech major.

PhysicsWallah is set to launch its Rs 3,480 crore IPO on November 11, comprising a fresh issue of Rs 3,100 crore and an offer-for-sale (OFS) of Rs 380 crore by co-founders Alakh Pandey and Prateek Boob. The issue is priced in the range of Rs 103–109 per share, valuing the company at over Rs 31,500 crore at the upper end.

Post-listing, promoter shareholding will fall from 80.62% to about 72%, while early investors will retain their stakes. The anchor allocation is scheduled for November 10, and the issue will close on November 13.

Proceeds from the IPO will be used to fund expansion and growth initiatives, marking another key milestone in PW’s journey from a YouTube-based learning platform to one of India’s most valued edtech startups.