Shares of PhysicsWallah were trading 5% higher on April 15 after the firm clarified a report regarding the acquisition of the test-prep platform Rojgar With Ankit. Business Standard reported on April 14 that the edtech firm is in talks to acquire the digital-first government examination preparation platform, with the transaction likely valued at around Rs 300-400 crore.
PhysicsWallah stated in a stock exchange filing, “The Company continuously evaluates various strategic opportunities with a view to enhance stakeholder value and drive growth for the organization.” At 2:33 pm on April 15, shares were trading at Rs 105.75 apiece.
The company noted a 26% rise in share price over the past month, attributing it to market-driven factors. Additionally, the income tax department reduced its tax demand for assessment year 2023-24 to Rs 193 crore from Rs 263 crore after the company filed a rectification complaint. PhysicsWallah has filed an appeal regarding the remaining liability, believing it has “strong legal and factual grounds” to contest it. The firm does not expect the updated tax demand to materially impact its financial position or operations.
