Physicswallah

** BofA initiates PhysicsWallah PHYS.NS at "underperform" with PT of 110 rupees, implying an 18% downside from current level

** Says valuations are ahead of fundamentals after 55% rally over past six months

** Educational services provider's loss-making in-person classes, unproven unit economics make growth and profitability harder to balance, brokerage says

** Expects 29% online revenue CAGR over FY26-FY29, on newer, lower-priced courses that may require additional spending

** Balancing growth and margins may become tougher as pace of in-person class additions slows with slowing test-prep demand and regulatory risks being key downside factors - BofA

** 9 analysts on avg rate PHYS at "buy", median PT at 144 rupees -LSEG-compiled data

** PHYS down 0.44% on day at 134.17 rupees; YTD up 1.35%

(Reporting by Surbhi Misra in Bengaluru)

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Aug 14 (Reuters) - Physicswallah Ltd PHYS.NS:

• TO BUY REMAINING 10% OF BHARAT INNOVATIONS GLOBAL

Source text: ID:nnAZN4TECVI

Further company coverage: PHYS.NS

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Adds details paragraph 2 onwards

June 4 (Reuters) - Shares of PhysicsWallah PHYS.NS surged as much as 17% after the edtech firm scrapped plans to lend directly to students through its finance unit and said it would instead partner with regulated non-banking financial companies, reducing balance sheet and credit-related risks.

The stock was last up 15.9% at 106.67 rupees as of 12:10 p.m. IST on Thursday, and was set for its biggest intraday percentage rise since January 22.

The shift in strategy comes after the firm late last month announced an investment of about 1.20 billion rupees ($12.53 million) in its wholly-owned subsidiary FinZ Finance.

PhysicsWallah said it would continue to operate as a technology platform connecting students with regulated lending partners, while the future strategic direction of FinZ Finance would be decided later.

In May, it reported a 75% year-on-year narrowing in its fourth-quarter loss to 748.9 million rupees and a 51% jump in revenue, driven by the rapid expansion of its offline centres and growth in premium online courses.

($1 = 95.7350 Indian rupees)

(Reporting by Surbhi Misra in Bengaluru; Editing by Sonia Cheema)

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May 27 (Reuters) - Physicswallah Ltd PHYS.NS:

• PHYSICSWALLAH LTD - APPROVES 1.20 BILLION RUPEES INVESTMENT IN FINZ FINANCE VIA RIGHTS ISSUE

Source text: ID:nBSE4vsWTN

Further company coverage: PHYS.NS

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** Shares PhysicsWallah PHYS.NS up about 2.5% at 111.12 rupees after HSBC initiates coverage with "buy" rating, TP:135 rupees

** Brokerage says strong demand for academic credentials and India's competitive exam culture continue to support long-term growth for education tech co

** Expects co's adjusted EBITDA to grow at more than 60% CAGR between FY26 and FY30, aided by operating leverage and expansion in offline business

** Adds execution will remain key in India's fragmented education market, as co scales offline presence

** PHYS rated "buy" on average by 6 analysts, median PT at 130 rupees - LSEG-compiled data

** YTD, stock down about 18.3%

(Reporting by Surbhi Misra in Bengaluru)

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April 15 (Reuters) - Physicswallah Ltd PHYS.NS:

• PHYSICSWALLAH - CLARIFIES ON REPORT CO TO ACQUIRE STAKE IN TEST-PREP PLATFORM ROJGAR WITH ANKIT

• PHYSICSWALLAH - CO REMAINS IN DISCUSSIONS WITH RELEVANT PARTIES FROM TIME TO TIME, INCLUDING ONE REFERRED IN THE REPORT

Source text: [ID:]

Further company coverage: PHYS.NS

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April 14 (Reuters) - Physicswallah Ltd PHYS.NS:

• PHYSICSWALLAH LTD - TAX DEMAND REDUCED TO 1.93 BILLION RUPEES

Source text: ID:nBSE8r53fJ

Further company coverage: PHYS.NS

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March 18 (Reuters) - Physicswallah Ltd PHYS.NS:

• PHYSICSWALLAH LTD - RECEIVES TAX ORDER OF 2.63 BILLION RUPEES

Source text: ID:nBSE10CVLg

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Feb 5 (Reuters) - Physicswallah Ltd PHYS.NS:

• PHYSICSWALLAH LTD - INCORPORATION OF A WHOLLY OWNED SUBSIDIARY IN INDIA

Source text: ID:nNSE384T5Z

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Updates with details throughout

Dec 3 (Reuters) - Meesho's MEES.NS $604 million initial public offering was fully subscribed the first day of bidding on Wednesday as retail investors rushed to grab a share of the Indian e-commerce platform amid a booming IPO market.

The company, which is seeking a valuation of up to $5.6 billion, received bids for 429.13 million shares as of 3:32 p.m. IST, against the 277.94 million shares on offer, exchange data showed.

Retail investors bid for 173.64 million shares, more than three-fold the 51.03 million shares set aside for them.

Meesho's listing is the latest in the line of IPOs from technology-driven companies like Groww BILO.NS, Lenskart LENS.NS and PhysicsWallah PHYS.NS taking advantage of a booming primary market.

More than 300 IPOs have raised $19.26 billion in India so far this year, setting the stage for 2025 to be a record year for IPO fundraising, LSEG data showed.

"We believe Meesho's asset-light model, zero-commission structure for sellers and disciplined cost optimisation have enabled rapid user and order growth while steadily improving unit economics," said Rajan Shinde, research analyst at Mehta Equities.

Backed by Softbank and Peak XV Partners, Meesho has already raised about $270 million from anchor investors such as SBI Innovative Opportunities Fund and Government of Singapore ahead of the public launch of its IPO. The offering closes on December 5.

Non-institutional investors bid for 1.38 times the number of shares on offer for them, and the portion set aside for qualified institutional buyers was also fully subscribed.

Meesho's revenue rose 29.4% to 55.78 billion rupees ($622.96 million) in the first half of fiscal 2026, and its losses narrowed 72.1% to 7 billion rupees, according to its IPO prospectus.

"While strong scale momentum supports the growth narrative, near-term profitability remains volatile," Angel One said.

(Reporting by Anuran Sadhu and Vivek Kumar M in Bengaluru; Editing by Janane Venkatraman)

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