{"url":"https://newsforagent.com/news/2026-11-04/physicswallah-utkarsh-classes-stake-increase","markdown_url":"https://newsforagent.com/news/2026-11-04/physicswallah-utkarsh-classes-stake-increase.md","title":"PhysicsWallah Raises Utkarsh Classes Stake to 87.75%","headline":"PhysicsWallah Buys 12.25% More of Utkarsh Classes for ₹2,55,990","description":"PhysicsWallah lifted its Utkarsh Classes holding to 87.75% with a 12.25% stake bought for ₹2,55,990 in cash, replacing a performance-linked price.","section":"Mergers & Acquisitions","published_at":"2026-11-04T15:35:34+00:00","modified_at":"2026-11-04T15:35:34+00:00","author":"News Desk","key_takeaways":["PhysicsWallah acquired a 12.25% stake in Utkarsh Classes for ₹2,55,990, raising its holding from 75.50% to 87.75%.","The board approved a third amendment to the February 2023 Share Acquisition Terms Agreement, swapping the Tranche IV profit-linked valuation for a fixed price and dropping Tranche V.","Utkarsh Classes reported turnover of ₹169.66 crore in FY26, ₹168.96 crore in FY25 and ₹146.97 crore in FY24."],"companies":[{"name":"Utkarsh Classes","is_primary":true,"profile_url":"https://akta.pro/company-profiles/000buxc/utkarsh-classes","website":"https://utkarsh.com"},{"name":"Physics Wallah","is_primary":false,"profile_url":"https://akta.pro/company-profiles/00009xr/physics-wallah","website":"https://www.pw.live"}],"source":{"publisher":"ScanX","title":"Physicswallah to raise Utkarsh Classes stake to 87.75% for ₹2.56 lakh","url":"https://scanx.trade/stock-market-news/companies/physicswallah-raise-utkarsh-classes-stake-87-75-2-56-lakh/55350945"},"other_sources":[],"tags":["Mergers & Acquisitions","Utkarsh Classes","Physics Wallah"],"body_markdown":"PhysicsWallah Limited has agreed to buy a further 12.25% of Utkarsh Classes & Edutech Private Limited for ₹2,55,990 in cash, lifting its holding in the Jodhpur-based coaching company from 75.50% to 87.75%. [ScanX](https://scanx.trade/stock-market-news/companies/physicswallah-raise-utkarsh-classes-stake-87-75-2-56-lakh/55350945) reported the board approval on November 4, 2026.\n\n## PhysicsWallah's ₹2,55,990 Utkarsh Classes Purchase\n\nThe purchase covers 25,599 equity shares held by existing shareholders and is part of the Share Acquisition Terms Agreement signed in February 2023, which targets up to 100% of Utkarsh Classes by FY28. The board meeting on November 4, 2026 approved a third amendment to that agreement. The amendment replaces the performance-linked, profit-based valuation for Tranche IV with a mutually agreed fixed purchase consideration, and it dispenses with the acquisition under Tranche V. PhysicsWallah said it intends to complete the share transfer within three months. The transaction is structured as cash and is not a related party transaction, because the promoter group holds no interest in Utkarsh Classes.\n\n[Physics Wallah](https://akta.pro/company-profiles/00009xr/physics-wallah) is the listed parent buying the shares. [Utkarsh Classes](https://akta.pro/company-profiles/000buxc/utkarsh-classes) was incorporated in November 2018 and runs schools, colleges and coaching centres. PhysicsWallah's earlier reported expansion includes a September 21, 2026 memorandum of understanding with Mohan Babu University to prepare students for competitive exams, with a focus on Andhra Pradesh, Telangana, Karnataka, Tamil Nadu and Kerala over the next three to four months, The Hindu reported.\n\n## Utkarsh Classes' Turnover Across Three Years\n\nAccording to akta.pro [company records](https://akta.pro/company-data), PhysicsWallah raised its stake in Utkarsh Classes to 75.50% in December 2025 by acquiring an additional 12.25%, or 25,599 equity shares, for INR 26.50 crore in cash under the same multi-tranche agreement, with full ownership targeted by March 2028. The same records describe Utkarsh Classes as a Jodhpur-headquartered platform founded in 2002 that serves 16 exam categories online and offline. ScanX reported Utkarsh Classes turnover of ₹169.66 crore in FY26, ₹168.96 crore in FY25 and ₹146.97 crore in FY24.\n\n## Three-Month Transfer Window\n\nPhysicsWallah said it plans to complete the share transfer within three months of the November 4, 2026 board approval. The February 2023 agreement sets full ownership of Utkarsh Classes as a target by FY28.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}