PhysicsWallah Limited saw venture capital investor Lightspeed Venture Partners fully exit its stake by selling 4.67 crore shares at Rs 117.72 apiece for Rs 549.73 crore, about Rs 550 crore, in a block deal on Wednesday, with ICICI Prudential Mutual Fund buying 2.2 crore shares worth about Rs 259 crore as the biggest buyer.

PhysicsWallah Limited shares rose about 5% to Rs 126.98 after about 4.67 crore shares worth around Rs 550 crore changed hands at Rs 117.72, about a 3% discount to the previous close of Rs 121, with buyers and sellers not ascertained. JM Financial upgraded PhysicsWallah Limited to Buy with a target of Rs 140, implying over 15% upside, after the company reported Q1FY27 consolidated net loss narrowing to Rs 88.3 crore from Rs 127 crore and revenue rising 24% to Rs 1,054 crore.

PhysicsWallah Limited reported Q1FY27 revenue of Rs 1,054 crore, up 24.4% year-on-year, with reported Ebitda loss narrowing to Rs 13 crore from Rs 70 crore and pre-Ind AS Ebitda loss to Rs 44 crore from Rs 89 crore, as 33.2% online revenue growth offset subdued 14.5% offline growth caused by a 5-7 week NEET exam delay. The company retained FY27 guidance for 30% revenue growth and doubling of pre-Ind AS Ebitda, while noting a subsequent recovery in NEET enrolments and collections and plans to exit FinZ.