PhysicsWallah Makes Strong Market Debut; Shares List at 33% Premium

Mumbai, November 18, 2025:
Ed-tech disruptor PhysicsWallah (PW) made an impressive debut on the Indian stock markets on Tuesday, with its shares listing at a 33% premium over the issue price, marking a significant milestone for the education technology sector.

The stock opened at ₹145 on the NSE, compared to the IPO price of ₹109 per share, and continued to gain momentum through the day. By the end of the trading session, PW shares closed at ₹155.24, delivering more than 42% returns to investors on day one. The company’s market capitalisation crossed the ₹40,000-crore mark shortly after listing.

PW’s ₹3,480-crore IPO comprised a fresh issue of around ₹3,100 crore and an offer-for-sale of ₹380 crore. The proceeds will be used to expand the company’s hybrid learning footprint, upgrade technology infrastructure, strengthen marketing initiatives, and accelerate strategic acquisitions.

Founded by educator-turned-entrepreneur Alakh Pandey, PhysicsWallah has evolved from a single YouTube channel into a full-fledged ed-tech platform with a presence across online, offline, and hybrid learning models. The company currently operates over 300 PW Pathshala centres and caters to millions of learners across competitive and school-level segments.

Market analysts say the strong listing reflects renewed investor appetite for profitable, sustainably-run ed-tech businesses, even as several players in the sector have struggled with layoffs, losses, and regulatory scrutiny in recent years. PhysicsWallah’s asset-light digital model, blended with an expanding offline network, has been cited as a key advantage.

However, experts caution that the company faces challenges ahead, including intense competition, high operational costs associated with offline expansion, and the need to maintain profitability while scaling rapidly.

With its successful market debut, PhysicsWallah becomes the first major Indian ed-tech startup to list on the stock exchanges, setting a new benchmark for the sector and signaling potential revival in investor confidence toward education technology firms.