Physicswallah Limited has approved the acquisition of an additional 12.25% equity share capital in Utkarsh Classes & Edutech Private Limited for INR 2,55,990. This transaction, involving 25,599 equity shares, increases Physicswallah’s total shareholding in its subsidiary to 87.75%. The Board also agreed to replace the PAT-linked valuation with a fixed purchase consideration for Tranche IV and dispense with Tranche V of the acquisition.
Physicswallah Acquires Additional Stake in Utkarsh Classes
Physicswallah Limited announced today, November 04, 2026, that its Board of Directors has approved the execution of a third amendment agreement to the Share Acquisition Terms Agreement (SATA) for its subsidiary, Utkarsh Classes & Edutech Private Limited. This move signifies a further consolidation of ownership in the education technology sector.
Key Acquisition Details
The approved acquisition involves an additional 25,599 equity shares of Utkarsh Classes, representing 12.25% of its fully diluted equity share capital. The aggregate purchase consideration for these shares is INR 2,55,990. This acquisition will increase Physicswallah Limited’s shareholding in Utkarsh Classes from the current 75.50% to 87.75%.
Amendment to Acquisition Terms
In conjunction with this acquisition, the Board also approved amendments to the SATA. These include replacing the existing PAT-linked valuation mechanism for Tranche IV with a mutually agreed fixed purchase consideration. Furthermore, the acquisition under Tranche V has been dispensed with, including the deletion of related provisions and valuation mechanisms from the SATA. The company has already completed the first three tranches of the acquisition.
Strategic Rationale
The acquisition of Utkarsh Classes & Edutech Private Limited is consistent with Physicswallah’s core business in the education sector. The company’s objective is to acquire up to 100% of Utkarsh Classes’ equity share capital in tranches, a process expected to be completed by FY 2027-28. The latest acquisition aims to bolster Physicswallah’s control and strategic direction over its subsidiary.
About Utkarsh Classes & Edutech
Utkarsh Classes & Edutech Private Limited, incorporated on November 16, 2018, is engaged in establishing and operating educational institutions, including schools, colleges, and coaching centers, across science and non-science streams. It also provides educational content and sells materials through online platforms. The company’s turnover for FY 2023-24 was INR 146.97 Crores, projected to reach INR 169.66 Crores by FY 2025-26.
Board Meeting Details
The Board of Directors’ meeting commenced at 02:45 P.M. (IST) and concluded at 03:37 P.M. (IST) on November 04, 2026.
Source: BSE
