PWL : ACQUIRES 12.25% STAKE IN UTKARSH CLASSES FOR RS 2.56 L

• Board approved Tranche IV acquisition of 25,599 equity shares, or 12.25% of fully diluted equity, of Utkarsh Classes • Consideration is ~₹2.56 L in cash; shareholding rises from 75.50% to 87.75% • Third SATA amendment replaces PAT-linked valuation for Tranche IV with fixed consideration and dispenses with Tranche V • Utkarsh Classes reported FY26 turnover of ₹169.66 Cr, FY25 ₹168.96 Cr and FY24 ₹146.97 Cr • Utkarsh operates education institutions, coaching centers and online content in India • Acquisition is intended to be completed within three months

Physicswallah Limited

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