Try GOLD - Free
PhysicsWallah keeps its IPO valuation target modest
Mint Bangalore
|November 07, 2025
The WestBridge-backed edtech plans to leave enough value on table for incoming investors
The edtech has trimmed the size of its offer for sale to ₹380 crore.
PhysicsWallah Ltd's founders have kept their initial public offering (IPO) valuation goal modest, only slightly above the edtech's previous fundraise, to leave enough value on the table for incoming investors.
Private equity firm WestBridge Capital-backed edtech PhysicsWallah, which heads to the IPO street later this week, has set a price band of ₹103-₹109 per share, targeting a valuation of around ₹31,170 crore ($3.7 billion) at the upper end-the same as its February private funding round, as reported by Mint, and higher than its last publicly disclosed valuation of $2.8 billion in September 2024.
The edtech has also trimmed the size of its offer for sale (OFS) to ₹380 crore from ₹720 crore earlier, with both founders-Alakh Pandey and Prateek Maheshwari-selling shares worth ₹190 crore each. They together own about 80% of the company.
The IPO now comprises a fresh issue of₹3,100 crore and a smaller secondary component, sufficient to meet the Securities and Exchange Board of India's (Sebi's) minimum dilution requirement.
This story is from the November 07, 2025 edition of Mint Bangalore.
Subscribe to Magzter GOLD to access thousands of curated premium stories, and 10,000+ magazines and newspapers.
Already a subscriber? Sign In
MORE STORIES FROM Mint Bangalore
Mint Bangalore
Tiger Global: Govt treads with caution
channels for adjudication of the issue,” said the first official quoted above.
1 mins
January 17, 2026
Mint Bangalore
Wipro, TechM outshine TCS, Infosys in weak Q3 for IT
Wipro, Tech Mahindra respectively reported 0.24% and 2.74% yearly rise in revenue in Q3
3 mins
January 17, 2026
Mint Bangalore
24 hours at the Kochi-Muziris Biennale
What to see if you have just a day, or even a few hours, at the ongoing Kochi Biennale, which is on at 22 venues
4 mins
January 17, 2026
Mint Bangalore
Indian markets on mute amid mixed December qtr earnings
Indian stock markets wrapped up the week largely flat as investors parsed the first batch of December-quarter earnings, finding no clear cues to take fresh positions in the week ahead.
1 mins
January 17, 2026
Mint Bangalore
IT's Big Five face $500 mn labour code hit to profit
India's new labour codes eroded the profits of India's five largest information technology (IT) services companies in the December quarter as they recorded ₹4,645 crore ($500 million) in upfront costs as higher contributions to employees' retirement benefits.
1 min
January 17, 2026
Mint Bangalore
Sebi floats reforms to ease FPI fund settlement, KYC
Acting on market feedback, the Securities and Exchange Board of India (Sebi) released a consultation paper on Friday that proposes to allow foreign portfolio investors (FPIs) to net funds, a move aimed at easing settlement rules to lower funding costs and address operational inefficiencies.
1 min
January 17, 2026
Mint Bangalore
Unified Fema to cover export, import of goods and services
The central bank has eased import-export compliance for smaller exporters
2 mins
January 17, 2026
Mint Bangalore
Loan growth, margin gains to boost HDFC, ICICI banks
Brokerages say the two private sector lenders are likely to post steady performance in Dec qtr
2 mins
January 17, 2026
Mint Bangalore
Reliance’s oil & gas slump, retail drag down Q3 earnings
from the introduction of the new labour codes in India, and higher investments in its hyperlocal e-commerce business JioMart.
1 mins
January 17, 2026
Mint Bangalore
Sneh Rana's roller-coaster of a year
A season that began with rejection ended with a World Cup and a record contract for Sneh Rana
5 mins
January 17, 2026
Listen
Translate
Change font size