PhysicsWallah raises Rs 1,563 Cr from anchor investors

Edtech unicorn PhysicsWallah has raised Rs 1,562.85 crore from 57 anchor investors at the upper price band of Rs 109 per share, ahead of its initial public offering (IPO). The anchor book received bids worth nearly Rs 20,000 crore, an oversubscription of around 13 times.

According to the company’s filing with the stock exchanges, 14,33,80,733 equity shares were allotted to anchor investors at Rs 109 per share for the abovementioned amount. Out of the total anchor portion, 7.95 crore shares (55.48%) were allocated to 14 domestic mutual funds across 35 schemes, raising Rs 867 crore.

Prominent domestic investors include ICICI Prudential MF, Kotak MF, Nippon MF, Aditya Birla Sun Life MF, DSP MF, Motilal Oswal MF, 360 ONE, Tata MF, Bharti AXA Life, Edelweiss MF, and Canara Robeco MF participated in the anchor investment.

The round also saw a strong participation from global funds such as Capital Research, Goldman Sachs Asset Management (GSAM), Fidelity, Franklin Templeton, PineBridge, Eastspring Investments, and White Oak Capital.

Last week, Global investment firm Think Investments infused Rs 136 crore into PhysicsWallah (PW) through a secondary share transaction. The deal was executed at Rs 127 per share, a 17% premium over the IPO’s upper price band of Rs 109.

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.

According to the RHP, PhysicsWallah reported Rs 2,887 crore in operating revenue and Rs 243 crore in loss during FY25. Meanwhile, for the first quarter of the ongoing fiscal year (Q1 FY26), the firm reported a revenue of Rs 847 crore while its losses stood at Rs 127 crore in the same period.