New Delhi, Nov 5 (PTI) Edtech unicorn PhysicsWallah is set to float its initial public offering (IPO) on November 11, targeting Rs 3,480 crore to fuel its expansion and growth initiatives.

The company's maiden public offering will conclude on November 13, and anchor investors will be allocated shares on November 10, according to the red herring prospectus (RHP) filed on Wednesday.

The upcoming IPO comprises a fresh issue of equity shares worth Rs 3,100 crore and an offer for sale (OFS) of shares aggregating up to Rs 380 crore by promoters, it showed.

Both promoters -- Alakh Pandey and Prateek Boob -- will each offload shares worth Rs 190 crore through the OFS. At present, both hold 40.31 per cent stake each in the company.

Noida-based PhysicsWallah filed draft papers in March with Sebi

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