PhysicsWallah IPO price band set at ₹103-109 per share

EDTECH MAJOR PHYSICSWALLAH on Thursday announced a price band of ₹103-109 per share for its upcoming initial public offering (IPO).

- ANEES HUSSAIN

The company’s ₹3,480-crore IPO will open on November 11 and close on November 14.

The issue comprises a fresh issue of ₹3,100 crore and an offer for sale (OFS) worth ₹380 crore by co-founders Alakh Pandey and Prateek Maheshwari, who will each offload shares worth ₹190 crore. Notably, the Noida-based firm has reduced its OFS size from ₹720 crore, as stated in its draft prospectus — meaning that around 90% of the issue now consists of primary capital.