PhysicsWallah Garners ₹1,563 Crore from Anchor Investors Ahead of IPO
The edtech company PhysicsWallah (PW) successfully raised ₹1,563 crore (approximately $188 million) from a total of 57 anchor investors on November 10, 2025, just one day before its Initial Public Offering (IPO) opened for public subscription.
Key Details of the Anchor Investor Round:
Amount Raised: ₹1,563 crore (or ₹1,562.85 crore precisely).
Shares Allotted: The company allotted 14.33 crore equity shares to the anchor investors.
Price: The shares were allotted at the upper end of the price band, ₹109 per share.
Oversubscription: The anchor book saw strong demand, reportedly being 13 times oversubscribed, with bids worth nearly ₹20,000 crore.
Prominent Investors Who Participated:
The anchor book saw participation from a mix of major domestic and global institutional investors, indicating strong confidence in the company.
🇮🇳 Domestic Institutional Investors (DIIs):
Mutual Funds: ICICI Prudential MF, Kotak MF, Nippon MF, Aditya Birla Sun Life MF, DSP MF, Motilal Oswal MF, Tata MF, and Canara Robeco MF, among others. Domestic Mutual Funds were allotted 55.5% of the total anchor book.
🌎 Global Institutional Investors (FIIs):
Capital Research, Goldman Sachs Asset Management (GSAM), Fidelity, Franklin Templeton Global, Eastspring Investments, PineBridge, and White Oak Capital.
📈 Overview of the PhysicsWallah IPO
The anchor investor allocation is a major step for the company's public market debut. Here are the overall IPO details:
| Feature | Detail |
| Total IPO Size | ₹3,480 crore (approx.) |
| Price Band | ₹103 to ₹109 per equity share |
| IPO Dates | Opens: November 11; Closes: November 13, 2025 |
| Issue Structure | Fresh Issue: ₹3,100 crore (for company expansion) |
| Offer for Sale (OFS): ₹380 crore (by promoters Alakh Pandey and Prateek Boob) | |
| Use of Proceeds | Expansion of offline and hybrid centres, lease payments, investment in subsidiaries (like Utkarsh Classes), marketing, and tech infrastructure. |
| Pre-IPO Valuation | Over ₹31,500 crore (at the upper price band) |
This strong response from anchor investors, particularly from a large number of domestic mutual funds and marquee global funds, is generally seen as a positive sign for the public issue.