On the monumental occasion of PW (PhysicsWallah) IPO listing, founder and CEO Alakh Pandey delivered a heartfelt speech that resonated deeply with his audience. He reflected on the IPO as a significant financial milestone but emphasized that their mission and vision extend well beyond this point.
Pandey acknowledged the challenges ahead:
“अभी बहुत कुछ करने को बचा हुआ है।” and “यह बात सच है कि हमने 3000 करोड़ रुपए 5 साल के अंदर किए।”
He highlighted PhysicsWallah’s role in transforming India’s education landscape, making quality education affordable and accessible, especially for underprivileged students in small towns and villages who previously had to pay prohibitive fees for coaching. He said:
“किसी भी बच्चे को अगर एक quality education चाहिए होती थी तो उसके लिए उसको वह fees पे करनी पड़ती थी जो शायद उसके घर में नहीं होती थी।”,
and stressed that no child should be barred from exams like IIT, NEET, or UPSC due to financial constraints.
“हमारा मिशन है इसे हर बच्चे के लिए औऱ न्यायसंगत बनाना।”
He recounted growing up hearing doubts from investors about PhysicsWallah’s potential reach, and confidently declared the goal of reaching every mobile and internet user in India:
“जहाँ जहाँ mobile है, जहाँ जहाँ internet है, वहाँ वहाँ PW होगा।”
Pandey also paid tribute to the team behind PhysicsWallah, insisting the company is a collective effort, with strength rooted in every employee from CXOs to the event management staff.
“हमें बनना है वो जो education provide करे each and every kid को।”
Concluding emotionally, he spoke of India’s immense talent, referencing the everyday ‘Einsteins’ and ‘Madam Curies’ working in humble jobs but holding great potential. The IPO, he insisted, was just a small step in a much larger journey “यह listing एक बहुत छोटा milestone होगा।”.
PhysicsWallah IPO and Stock Market Debut
- The IPO was priced at ₹103–₹109 per share, with the issue open from November 11 to 13, 2025.
- PhysicsWallah’s shares debuted on November 18, 2025, listing at ₹145 on NSE (a 33% premium) and ₹143.10 on BSE.
- The stock closed the day with gains around 44%, reaching as high as ₹161.99 and eventually settling near ₹156.49, pushing the company’s market cap to approx ₹44,751 crore.
- The IPO raised about ₹3,100 crore as a fresh issue and ₹380 crore through an offer-for-sale, with a total subscription of about 1.92 times, driven mainly by retail investor enthusiasm.
Read this: PW IPO: Alakh Pandey’s PhysicsWallah Lists at Over 33% Premium, Shares Open at Rs 145 on NSE
Financial Performance FY25 Snapshot
- Revenue: Grew 49% YoY, reaching ₹2,887 crore, up from ₹1,941 crore in FY24.
- Net Loss: Reduced significantly from ₹1,131 crore in FY24 to ₹243 crore in FY25, largely due to lower fair value losses on convertible preference shares.
- Gross Margins: Improved to 30.9% from 18.6% YoY, reflecting better mix and operational efficiencies.
- Employee Count: Over 15,700, indicating the company’s extensive scale in online and offline education.
- Key Investment Areas: Heavy spend in offline education center growth, marketing (₹276 crore), technology, and franchise partnerships.
IPO Objectives
- Expansion and upgrade of offline and hybrid learning centers.
- Investment in subsidiaries such as Xylem Learning for new facilities.
- Enhancement of technology infrastructure to support scaling and innovation.
Summary Table
| Parameter | Details |
|---|---|
| IPO Price Band | ₹103–₹109 per share |
| Listing Price (NSE) | ₹145 (33% premium) |
| Market Cap Post-Listing | ~₹44,751 crore |
| IPO Subscription | ~1.92x |
| FY25 Revenue | ₹2,887 crore (49% YoY growth) |
| FY25 Net Loss | ₹243 crore (down from ₹1,131 crore loss) |
| Employee Count | 15,775+ |
| Major Expansion Focus | Offline & hybrid learning centers, tech investments |
PhysicsWallah’s milestone IPO crowns a remarkable journey from humble origins to a pan-India edtech powerhouse, powerfully driven by founder Alakh Pandey’s vision for affordable, quality education accessible to all. This public debut marks a new phase aimed at robust, sustainable growth, transforming how millions of Indian students prepare for their futures.
