Physicswallah Ltd. share price target

Physicswallah (PW) is among India's largest education platforms, built on what we believe is one of the most capital-efficient business models in Indian EdTech.

PhysicsWallah offers test preparation courses (e.g., JEE, NEET) and upskilling programs through a multi-channel delivery model: online, offline centers, and hybrid centers.

Issue Snapshot: Issue Open: November 11 November 13, 2025 Price Band: Rs. 103-109 (Employee Discount Rs 10/unit) *Issue Size: Up to Rs 3480 cr (Fresh issue of upto Rs 3100 cr + Offer for sale of upto 34,862,385 eq sh) Reservation for: QIB atleast 75% eq sh Non-Institutional upto 15% eq sh ((including 1/3rd for applications between Rs.2 lakhs to Rs.10 lakhs)) Retail upto 10% eq sh Face Value: Rs 1 Book value: Rs 7.19 (June 30, 2025) Bid size: - 137 eq sh and in multiples thereof 100% Book built Issue IPO Note - PhysicsWallah Limited - 14112025

IPO NOTE

Company offer test preparation courses for competitive examinations, and other courses such as for upskilling. Company's channels of delivery include (i) online, which includes company's social media channels, website and apps; (ii) techenabled offline centers (where company's faculty conducts live classes in a physical center); or (iii) hybrid centers (its twoteacher model where a student attends a live online classes at a physical center and can benefit from another faculty that is...

PhysicsWallah Ltd. (PW) offers test-preparation courses for competitive examinations and other upskilling courses. The company's channels of delivery include (a) Online (Social media channels, Website, Apps); (b) Tech-enabled offline centers (faculty conducts live classes in a physical center); or (c) Hybrid centers (two-teacher model where a student attends a live online class at a physical center and can benefit from...