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📋 Filing Types Available on ForgeUp Filings Sourced from BSE corporate announcements (equity segment). Companies covered are BSE-listed and most are also listed on NSE. We show only material filings.
Financial Results Orders Dividend Buyback Merger / Acquisition Board Meeting Outcome Fundraise (QIP / Rights / FPO) Regulatory / Court Order Credit Rating Change Promoter Pledge Update Management Change Joint Venture / MOU Delisting Bonus Shares Stock Split
Data sourced from BSE India corporate announcements. More categories will be added over time.
Physicswallah Ltd

Physicswallah Increases Utkarsh Classes Stake to 87.75% for INR 2,55,990

M&A ▲ Positive Development LOW RISK
📅 Filed on BSE: 04 Nov 2026, 06:30 PM IST  ·  BSE ID: f7346514-6713-40d0-9950-75e9de059499
View Original BSE Filing (PDF)
💡
In Simple Terms
Physicswallah bought more shares in its subsidiary Utkarsh Classes for INR 2,55,990, increasing its ownership to 87.75%.
🤖 AI Summary
  • Physicswallah acquired an additional 12.25% equity stake in Utkarsh Classes & Edutech Private Limited.
  • The acquisition involved 25,599 equity shares for an aggregate purchase consideration of INR 2,55,990.
  • Physicswallah's total shareholding in Utkarsh Classes increased from 75.50% to 87.75%.
  • The valuation mechanism for Tranche IV was revised to a fixed purchase consideration, and Tranche V was dispensed with.
  • Utkarsh Classes, incorporated in November 2018, operates in the education industry with a turnover of INR 169.66 Crores.
🔢 Key Numbers — exact figures from BSE filing, not rounded
Acquisition Cost (Tranche IV)
INR 2,55,990
Shares Acquired (Tranche IV)
25,599 equity shares
Percentage Acquired (Tranche IV)
12.25%
Total Shareholding in Utkarsh Classes
87.75%
Utkarsh Classes Turnover
INR 169.66 Crores
🏢 How This Affects the Company
📈
Business Impact
This incremental acquisition further consolidates Physicswallah's control over Utkarsh Classes, strengthening its position in the education sector, consistent with its core business strategy.
💰
Financial Impact
The acquisition of 12.25% equity for INR 2,55,990 is a cash consideration and represents a minimal outflow relative to Utkarsh Classes' turnover of INR 169.66 Crores.
⚙️
Operational Impact
Consolidating ownership to 87.75% in Utkarsh Classes allows Physicswallah greater control over its subsidiary's operational and strategic decisions.
⚠️
Risk Impact
The fixed purchase consideration for Tranche IV and the elimination of Tranche V remove the PAT-linked valuation mechanism, reducing future valuation uncertainty for the remaining acquisition.
👥 What This Means For Shareholders
✅
Action Required
No action is required from shareholders.
👤
Who Is Affected
Shareholders of Physicswallah are indirectly affected as the company strengthens its control over a subsidiary through a cash acquisition, which impacts the company's asset base and future consolidated earnings.
🔍
Management Signal
The decision signals management's intent to consolidate ownership in key subsidiaries and streamline acquisition processes by moving away from performance-linked valuations for remaining tranches.

For information only. Not investment advice. ForgeUp is not SEBI-registered.

👁 Watch List — track these upcoming events
Q3 FY27 financial results — check consolidated performance including Utkarsh Classes.
Announcement regarding completion of Tranche IV acquisition within three months.
Future updates on the strategic integration of Utkarsh Classes within Physicswallah.
LOW RISK The acquisition is incremental, aligns with core business, and transaction cost is small.
💡 Investor Takeaway
Physicswallah acquired an additional 12.25% stake in Utkarsh Classes for INR 2,55,990, bringing its total ownership to 87.75%. The transaction also fixed the purchase consideration for the remaining Tranche IV and dispensed with Tranche V, clarifying future acquisition terms.
⚖️ Strengths & Concerns

✅ Positives

  • Increased ownership to 87.75% in Utkarsh Classes provides greater control over the subsidiary's operations and strategic direction.
  • Revision of acquisition terms from PAT-linked to a fixed consideration reduces valuation uncertainty for the remaining Tranche IV acquisition.
📅 Company Track Record
Physicswallah has a track record of strategic acquisitions. In July 2026, it increased its Sarrthi IAS stake to 51% for INR 71,81,47,100. In May 2026, the company committed INR 120 crore to fund its wholly-owned subsidiary FinZ Finance. Physicswallah also acquired Nextseed Foundation in March 2026 for INR 1,00,000.

Based on publicly available historical data. For context only.

❓ Frequently Asked Questions
What is Physicswallah's increased stake in Utkarsh Classes?
Physicswallah's shareholding in Utkarsh Classes & Edutech Private Limited has increased from 75.50% to 87.75% after the latest acquisition.
What was the purchase consideration for the additional stake in Utkarsh Classes?
Physicswallah paid an aggregate purchase consideration of INR 2,55,990 for the acquisition of 25,599 equity shares in Utkarsh Classes.
What changes were made to the acquisition terms for Utkarsh Classes?
The Board approved replacing the PAT-linked valuation for Tranche IV with a fixed purchase consideration and dispensing with the acquisition under Tranche V.
What is the turnover of Utkarsh Classes & Edutech Private Limited?
Utkarsh Classes & Edutech Private Limited has a reported turnover of INR 169.66 Crores.

Questions based on this BSE filing only. For information purposes.

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⚠️ For Information Only — Not Investment Advice
ForgeUp Filings provides AI-generated summaries of public BSE exchange announcements (equity segment) for informational purposes only. Nothing here constitutes investment advice or a recommendation to buy, sell, or hold any security. ForgeUp is not a SEBI-registered investment advisor. All financial numbers are sourced directly from BSE filings and shown as-is. Past data is historical only. Please consult a qualified financial advisor before making investment decisions. Data sourced from BSE India public disclosures.
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