PhysicsWallah shares soar on debut, 1st big win for Indian edtech IPOs

Business Nov 18, 2025

PhysicsWallah made a strong entry on the stock market, listing at ₹145 per share—33% above its IPO price of ₹109.
Shares peaked at ₹155.5, giving early investors up to 38% gains.
The ₹3,480 crore IPO was oversubscribed 1.8 times, with big names like ICICI Prudential and Fidelity backing it.

What does PhysicsWallah actually do?

Launched in 2020, PhysicsWallah blends online learning with over 500 offline centers (Vidyapeeth and Pathshala) across India.
It helps students prep for competitive exams and build skills, reaching around 1 crore digital users every month.
The company's revenue jumped from ₹772 crore in FY23 to ₹2,887 crore in FY25 while cutting losses to ₹243 crore—a sign things are moving in the right direction.