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Giving information Alakh Pandey CEO and Co-Founder of Physicswallah said that along with its online education expansion Physicswallah is now also considering offline expansion for which it is going to open new learning centers in those cities where there is more demand.
Physicswallah's Future Strategy?
Speaking on Physicswallah future strategy Alakh Pandey said "The company is adopting a hyper-local approach and setting up city-level centers and learning centers in areas where it currently doesn't have a presence. He added that this move will allow students to benefit from Physicswallah services in their hometowns reducing the need for them to travel to larger cities for quality coaching."
Alakh Pandey said that the company plans to set up centres at several new locations including Muzaffarpur (Bihar), Ujjain (Madhya Pradesh), Dhanbad (Jharkhand), Akola and Latur (Maharashtra), Rajkot (Gujarat), Bathinda (Punjab), Jorhat (Assam) and Chennai (Tamil Nadu).
Speaking about the expansion of offline education Pandey said that he is very optimistic about the online medium and has great faith in it. He also explained that Physicswallah is diversifying into new areas by launching courses for classes 6-8 and 9-10 to prepare for competitive exams like JEE, NEET, GATE and UPSC.
When will Physicswallah IPO come?
Physicswallah growth momentum comes as it prepares for its ₹3,480 crore IPO (Initial Public Offering) which opens on 11 November. The company has set a price band of ₹103 to ₹109 per share targeting a valuation of over ₹31,500 crore at the higher end.
The company IPO will consist of fresh issuance of shares worth Rs 3,100 crore and an offer for sale (OFS) of Rs 380 crore by promoters Alakh Pandey and Pratik Boob.
Promoters currently hold 80.62% of the company which will be reduced to 72% after the IPO, indicating that none of the initial investors will sell their stake in the offering. The issue will close on 13 November while allocation to anchor investors is scheduled for 1O November.
Physicswallah CEO Alakh Pandey also said that the proceeds from the IPO will be used to fund education expansion and development initiatives which will expand the scope of offline education along with online education.
