The top bosses of the first ed-tech company to hit the primary market, Physicswallah Ltd.(PW), do not want any comparison with the industry’s early entrant Byju’s. The company’s attention to reputation and low pricing is what differentiates them from “the early players “, chief executive officer (CEO) Alakh Pandey told the media while responding to questions about differences between the two companies.
Physicswallah(PW) has fixed the price band for its ₹3,480 crore initial public offering, between ₹103 and ₹109 and can be bid in lots of 137 shares and multiples thereof. Mr. Pandey stressed he did not want PW and “the other company,” Byjus, to be compared as the latter “targeted India’s premium parents, which is why their total addressable market was much smaller.” He asserted that their course, priced at around ₹4,000 or 1/20th of the ed-tech precursor.
The company is an edtech provider which uses free YouTube videos on various test preparation topics and it is through this the students can choose to subscribe, the founders asserted. The company’s IPO consists of a fresh issue of ₹3,100 crore with the rest being offer for sale and it plans to use most of its proceeds into marketing spend and capital expenditure for its new offline centres. The IPO opens on November 11 and closes November 13.