Physicswallah Restricted (“COMPANY”), shall open its Bid/Provide in relation to its preliminary public provide of Fairness Shares (“Subject”) on Tuesday, 11th November 2025. The Anchor Investor Bidding Date is one working day previous to bid/provide opening date, being Monday, 10th November 2025. The Bid/ Provide Closing Date is Thursday, 13th November 2025.
The overall provide dimension contains of a recent subject of fairness shares of face worth of ₹1 every aggregating as much as ₹ 3480 Crores. The IPO features a recent subject of fairness shares of face worth ₹1 every aggregating as much as ₹3100 Crores and a suggestion on the market of fairness shares of face worth ₹1 every aggregating as much as ₹380 Crores.
Worth Band of the difficulty is fastened at Rs. 103/- to Rs 109/- per fairness share. (“The Worth Band”).
The provide features a low cost of Rs. 10/- per Fairness Share is being supplied to Eligible Workers bidding within the Worker Reservation Portion.
Bids will be made for at least 137 Fairness Shares and in multiples of 137 Fairness Shares thereafter. (“Bid Lot”).
The corporate proposes to make the most of the online proceeds from the difficulty in the direction of a number of strategic goals. Round ₹460.551 Crores is earmarked for capital expenditure on fit-outs of latest offline and hybrid facilities, whereas ₹548.308 Crores will go in the direction of lease funds for current recognized facilities operated by the corporate. An funding of ₹47.168 Crores is deliberate in its subsidiary, Xylem Studying Personal Restricted, together with ₹31.648 Crores for organising new offline facilities (“New Xylem Facilities”) and ₹15.520 Crores for lease funds of current Xylem facilities and hostels. An extra ₹28.002 Crores can be invested in Utkarsh Lessons & Edutech Personal Restricted to satisfy lease fee obligations for its current offline facilities. Moreover, ₹200.106 Crores is allotted in the direction of server and cloud-related infrastructure, and ₹710 Crores in the direction of advertising and marketing initiatives. The corporate additionally plans to spend ₹26.5 Crores to amass an extra shareholding in its subsidiary, Utkarsh Lessons & Edutech Personal Restricted. The remaining proceeds can be utilized for funding inorganic development via unidentified acquisitions and for basic company functions.
The IPO Provide
The Provide is being made when it comes to Rule 19(2)(b) of the SCRR learn with Regulation 31 of the SEBI ICDR Laws. The Provide is being made via the E-book Constructing Course of (as outlined hereinafter) in accordance with Regulation 6(2) of the SEBI ICDR Laws whereby when it comes to Regulation 32(2) of the SEBI ICDR Laws, not lower than 75% of the Internet Provide shall be accessible for allocation on a proportionate foundation to Certified Institutional Patrons (“QIBs”, and such portion, the “QIB Portion”) offered that our Firm in session with the BRLMs, could allocate as much as 60% of the QIB Portion to Anchor Traders on a discretionary foundation in accordance with the SEBI ICDR Laws (“Anchor Investor Portion”), of which not less than one-third shall be accessible for allocation to home Mutual Funds, topic to legitimate Bids being obtained from home Mutual Funds at or above the Anchor Investor Allocation Worth. Within the occasion of under-subscription or non-allocation within the Anchor Investor Portion, the steadiness Fairness Shares shall be added to the QIB Portion (excluding the Anchor Investor Portion) (“Internet QIB Portion”).
Additional, 5% of the Internet QIB Portion shall be accessible for allocation on a proportionate foundation solely to Mutual Funds and the rest of the Internet QIB Portion shall be accessible for allocation on a proportionate foundation to all QIB Bidders (apart from Anchor Traders) together with Mutual Funds, topic to legitimate Bids being obtained at or above the Provide Worth. Nonetheless, if the combination demand from Mutual Funds is lower than 5% of the QIB Portion, the steadiness Fairness Shares accessible for allocation within the Mutual Fund Portion can be added to the remaining QIB Portion for proportionate allocation to QIBs. Additional, no more than 15% of the Internet Provide shall be accessible for allocation to Non-Institutional Bidders out of which (a) one-third of such portion shall be reserved for candidates with software dimension of greater than ₹200,000 and as much as ₹1,000,000; and (b) two-third of such portion shall be reserved for candidates with software dimension of greater than ₹1,000,000 offered that the unsubscribed portion in both of such sub-categories could also be allotted to candidates within the different sub-category of Non-Institutional Bidders and no more than 10% of the Internet Provide shall be accessible for allocation to RIIs in accordance with the SEBI ICDR Laws, topic to legitimate Bids being obtained from them at or above the Provide Worth.
Additional, Fairness Shares can be allotted on a proportionate foundation to Eligible Workers making use of below the Worker Reservation Portion, topic to legitimate Bids being obtained from them at or above the Provide Worth (internet of Worker Low cost, if any, as relevant). All potential Bidders (besides Anchor Traders) are required to mandatorily utilise the Software Supported by Blocked Quantity (“ASBA”) course of by offering particulars of their respective financial institution accounts (together with UPI ID for UPI Bidders) (as outlined hereinafter) through which the Bid Quantity can be blocked by the SCSBs or the Sponsor Financial institution(s), as relevant, to take part within the Provide. Anchor Traders aren’t permitted to take part within the Anchor Investor Portion of the Provide via the ASBA course of
Kotak Mahindra Capital Firm Restricted, J.P. Morgan India Personal Restricted, Goldman Sachs (India) Securities Personal Restricted and Axis Capital Restricted are the bankers to the difficulty.
