#PhysicsWallah valuation#IPO of Physics Wallah#Edtech Unicorn/sbkinews.in
The much-awaited initial public offering (IPO) of Physics Wallah, the fast-growing Indian edtech unicorn, will open for public subscription on November 11. The ₹3,480 crore IPO marks one of the biggest debuts by an Indian education technology startup in recent years, underscoring the company’s confidence in sustained sectoral growth amid a competitive digital learning landscape.
Headquartered in Greater Noida, Physics Wallah—popularly known as PW—has announced that the public issue will consist of fresh equity shares worth ₹3,100 crore and an offer for sale (OFS) of shares valued at ₹380 crore by promoters and key investors. Founders Alakh Pandey and Prateek Boob will each divest shares worth ₹190 crore.
Market Impact and Valuation
The IPO, valued at roughly $1.9 billion, positions Physics Wallah among the top Indian startups making a pivotal transition from private to public ownership. Market analysts predict robust investor enthusiasm due to the firm’s profitability track record and strong brand recognition across India’s education segment.
Currently, the promoters collectively hold a 40.31 percent stake in the company. Following the IPO, their combined holding is expected to reduce moderately, bringing more institutional and retail investor participation into the fold. This shift indicates growing trust from capital markets in education technology ventures—particularly those demonstrating steady revenue growth and operational sustainability.
Market experts note that the current offering could significantly elevate Physics Wallah’s valuation, projecting post-issue market capitalization to exceed ₹20,000 crore. Investors see this as a sign of India’s maturing startup ecosystem, especially within digital-first education companies.
Expansion and Growth Strategy
According to the company’s draft red herring prospectus (DRHP), proceeds from the IPO will primarily fund new learning centers, product innovation, technology upgrades, and entry into global edtech markets. A portion will also support acquisitions of regional learning platforms to diversify content delivery.
Founder and CEO Alakh Pandey has emphasized the company’s mission to make quality education affordable for every Indian student. He noted that going public will strengthen Physics Wallah’s financial base, helping it expand into Tier 2 and Tier 3 cities and improve infrastructure for hybrid learning.
In recent years, Physics Wallah has grown from a YouTube teaching platform to one of India’s most trusted education brands with multiple verticals, including online courses, test preparation, digital books, and offline coaching centers across India. The startup, originally launched in 2016, now serves more than 10 million students through digital and hybrid learning models.
Parallel IPOs Driving Investor Excitement
Adding to the November 11 momentum, MV Photovoltaic Power Limited—one of India’s leading solar module and cell manufacturers—will also open its ₹2,900 crore IPO on the same day. The dual openings signal renewed investor interest in India’s growth sectors, highlighting sustainability and digital education as powerful investment themes.
The MV Photovoltaic Power issue will include fresh shares worth ₹2,143.86 crore and an OFS valued at ₹756.14 crore. Market analysts believe that the strong fundamentals of both companies could independently attract domestic and foreign institutional investors, creating a buoyant start for the mid-November market sessions.
Physics Wallah’s Competitive Edge
Unlike several edtech peers that faced funding crunches post-2023, Physics Wallah has consistently reported profits. This stability results from its low-cost model and high-efficiency operational practices, enabling wider access to students nationwide. Industry experts view this IPO as a major turning point, capable of reshaping perceptions of profitability within the Indian startup ecosystem.
Furthermore, the company plans to integrate artificial intelligence-driven adaptive learning, improved analytics-based assessment, and gamified learning features to maintain user engagement across age groups. Such technology-forward steps ensure Physics Wallah maintains a competitive advantage in the crowded education technology market.
Market Expectations and Investor Outlook
Experts anticipate strong retail participation given the brand’s popularity among middle-class students and parents across India. Financial advisors recommend monitoring subscription levels closely on the opening day, as over-subscription could push listing premiums beyond initial estimates.
If the IPO performs as forecast, it could pave the way for other profitable education startups to follow suit, ushering in a new era of public market participation for India’s edtech sector. Investors also expect the listing to act as a bellwether for broader tech IPOs anticipated in early 2026.
Physics Wallah’s decision to go public not only symbolizes the company’s journey from startup to corporate powerhouse but also represents India’s evolving educational and entrepreneurial landscape. With increasing investor confidence and strong fundamentals, the November 11 IPO is expected to generate significant excitement in both domestic and global markets.
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