PhysicsWallah's INR 3,480 Cr IPO To Open On Nov 11

Edtech major PhysicsWallah (PW) has filed its red herring prospectus (RHP) for INR 3,480 Cr IPO. The public issue will comprise a fresh issue of INR 3,100 Cr and an offer for sale (OFS) of up to INR 380 Cr.

Cofounders and promoters Alakh Pandey and Prateek Boob (Maheshwari) have cut their total OFS size to INR 380 Cr from INR 720 Cr earlier. The cofounders would sell shares worth INR 190 Cr each via the IPO.

PW’s IPO will open on November 11 and close on November 13. The anchor bidding will take place on November 10. The shares are expected to list on the exchanges on November 18.

The company won’t undertake any pre-IPO placement.

(The story will be updated soon)

The post PhysicsWallah’s INR 3,480 Cr IPO To Open On Nov 11 appeared first on Inc42 Media.