Indian EdTech unicorn Physics Wallah has announced its plans for an Initial Public Offering (IPO) to raise Rs 3,480 crore, valuing the company at approximately Rs 31,500 crore. The fixed price band for the public offering is set between Rs 103 and Rs 109 per share.
The IPO, a combination of a fresh issue and an Offer for Sale (OFS), is scheduled to open for subscription on November 11 and close on November 13. Anchor investors will be allocated shares one day prior, on November 10. The offering includes a fresh issue of equity shares worth Rs 3,100 crore and an OFS of up to Rs 380 crore by the promoters. Promoters Alakh Pandey and Prateek Maheshwari will each sell stakes worth Rs 190 crore through the OFS. Both currently hold a 40.31% stake in the company.
Physics Wallah Co-founder and CEO Alakh Pandey confirmed that the substantial Rs 3,100 crore fresh issue, which constitutes around 90% of the total offering, will be entirely utilized for the company’s growth activities. He also noted that existing investors are not selling their stakes in this IPO. The company’s shares are tentatively scheduled to debut on the NSE and BSE on November 18.
