Physics Wallah’s IPO Success Marks a Turning Point in Edtech

New updates have been reported about Physics Wallah (PC:PHYSW)

Physics Wallah, an Indian edtech startup, made a significant impact on its first day as a public company, with shares closing 44% higher than their initial listing price. This performance suggests a potential recovery for India’s edtech sector, which has faced challenges in recent years. Initially priced at ₹109, shares peaked at ₹161.99 and closed at ₹156.49, valuing the company at ₹448 billion (approximately $5 billion). This valuation surpasses both its listing valuation of ₹315 billion and its last private valuation of $2.8 billion in September 2024. The company raised ₹34.8 billion (around $393 million) through its IPO, with ₹31 billion from a fresh issue of shares and ₹3.8 billion from shares sold by co-founders Alakh Pandey and Prateek Boob.

Physics Wallah’s growth trajectory is notable, especially as larger competitors like Byju’s and Unacademy face significant operational challenges. Byju’s is dealing with corporate governance issues and financial struggles, while Unacademy is reportedly in acquisition talks at a valuation much lower than its peak. In contrast, Physics Wallah reported a 49% increase in revenue to ₹28.9 billion for the financial year 2025, with a narrowed net loss of ₹2.4 billion. The company also saw a 23% rise in paying subscribers, reaching 4.5 million. Moving forward, Physics Wallah plans to use its IPO proceeds to expand offline centers, enhance its technology infrastructure, and explore acquisition opportunities. As of June 2025, it operates 303 centers across 152 cities in India and the Middle East, up from 182 the previous year.