Comparison between PhysicsWallah IPO and Rubicon Research IPO.
PhysicsWallah IPO is a Mainboard Bookbuilding IPO proposed to list at BSE, NSE while Rubicon Research IPO is a Mainboard Bookbuilding proposed to list at BSE, NSE.
The total issue size of PhysicsWallah IPO is up to ₹3,480.00 Cr whereas the issue size of the Rubicon Research IPO is up to ₹1,377.68 Cr. The final issue price of PhysicsWallah IPO is ₹109.00 per share and of Rubicon Research IPO is ₹485.00 per share.
| PhysicsWallah IPO | Rubicon Research IPO | |
|---|---|---|
| Face Value | ₹1 per share | ₹1 per share |
| Issue Price (Lower) | ₹103.00 per share | ₹461.00 per share |
| Issue Price (Upper) | ₹109.00 per share | ₹485.00 per share |
| Issue Price (Final) | ₹109.00 per share | ₹485.00 per share |
| Discount (Retail) | ||
| Discount (Employee) | ₹10.00 per share | ₹46.00 per share |
| Market Lot Size | 137 shares | 30 shares |
| Fresh Issue Size | 28,44,68,537 shares | 1,03,13,058 shares |
| Fresh Issue Size (Amount) | up to ₹3,100.08 Cr | up to ₹500.18 Cr |
| OFS Issue Size | 3,48,62,384 shares | 1,80,92,783 shares |
| OFS Issue Size (Amount) | up to ₹379.92 Cr | up to ₹877.50 Cr |
| Issue Size Total | 31,93,30,921 shares | 2,84,05,841 shares |
| Issue Size Total (Amount) | up to ₹3,480.00 Cr | up to ₹1,377.68 Cr |
PhysicsWallah IPO opens on Nov 11, 2025, while Rubicon Research IPO opens on Oct 09, 2025. The closing date of PhysicsWallah IPO and Rubicon Research IPO is Nov 13, 2025, and Oct 13, 2025, respectively.
| PhysicsWallah IPO | Rubicon Research IPO | |
|---|---|---|
| Anchor Bid Date | Nov 10, 2025 | Oct 08, 2025 |
| Issue Open | Nov 11, 2025 | Oct 09, 2025 |
| Issue Close | Nov 13, 2025 | Oct 13, 2025 |
| Basis Of Allotment (Tentative) | Nov 14, 2025 | Oct 14, 2025 |
| Initiation of Refunds (Tentative) | Nov 17, 2025 | Oct 15, 2025 |
| Credit of Share (Tentative) | Nov 17, 2025 | Oct 15, 2025 |
| Listing date (Tentative) | Nov 18, 2025 | Oct 16, 2025 |
| Anchor Lockin End date 1 | Dec 13, 2025 | Nov 12, 2025 |
| Anchor Lockin End date 2 | Feb 11, 2026 | Jan 11, 2026 |
PhysicsWallah IPO P/E ratio is -116.86, as compared to Rubicon Research IPO P/E ratio of 55.75.
| PhysicsWallah IPO | Rubicon Research IPO | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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| Financials | Company Financials (Restated Consolidated)PhysicsWallah Ltd.'s revenue increased by 51% and profit after tax (PAT) rose by 78% between the financial year ending with March 31, 2025 and March 31, 2024.
| Company Financials (Restated Consolidated)Rubicon Research Ltd.'s revenue increased by 49% and profit after tax (PAT) rose by 48% between the financial year ending with March 31, 2025 and March 31, 2024.
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| Promoter Shareholding (Pre-Issue) | 81.64 | 75.71 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Promoter Shareholding (Post-Issue) | 71.48 | 59.78 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| P/E Ratio | -116.86 | 55.75 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Market Cap | ₹31526.73 Cr. | ₹7990.21 Cr. | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROE | 29.02% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| ROCE | 26.45% | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| Debt/Equity | 0.73 | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| EPS | ₹-0.93 | ₹8.70 | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
| RoNW | -12.50% | 29.02% | ||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
In the PhysicsWallah IPO Retail Individual Investors (RII) are offered 3,18,62,385 shares while in Rubicon Research IPO retail investors are offered 3,18,62,385 shares. Qualified Institutional Buyers (QIB) are offered 9,55,87,156 shares in PhysicsWallah IPO and 85,09,794 shares in Rubicon Research IPO.
| PhysicsWallah IPO | Rubicon Research IPO | |
|---|---|---|
| Anchor Investor Reservation | 14,33,80,733 shares | 1,27,64,691 shares |
| Market Maker Reservation | 0 shares | 0 shares |
| QIB | 9,55,87,156 shares | 85,09,794 shares |
| NII | 4,77,93,577 shares | 42,54,896 shares |
| RII | 3,18,62,385 shares | 28,36,597 shares |
| Employee | 7,07,070 shares | 39,863 shares |
| Others | ||
| Total | 31,93,30,921 shares | 2,84,05,841 shares |
PhysicsWallah IPO subscribed 1.92x in total, whereas Rubicon Research IPO subscribed 109.35x.
| PhysicsWallah IPO | Rubicon Research IPO | |
|---|---|---|
| QIB (times) | 2.86x | 137.09x |
| NII (times) | 0.51x | 102.70x |
| Big NII (times) | 0.58x | 117.77x |
| Small NII (times) | 0.37x | 72.57x |
| RII (times) | 1.14x | 37.40x |
| Employee (times) | 3.71x | 17.68x |
| Other (times) | ||
| Total (times) | 1.92x | 109.35x |
