Physicswallah Limited (PWL) has approved the acquisition of an additional 930 equity shares in its subsidiary, Xylem Learning Private Limited, increasing its stake from 64.98% to 77.27%. This move is part of the company's ongoing strategy to acquire up to 100% equity in Xylem in multiple tranches, as outlined in the Shareholders' Agreement (SHA) and the company's Prospectus dated November 13, 2025. The Board of Directors, in a meeting held on December 18, 2025, also approved revisions to the tranche-wise acquisition terms and valuation-linked commercial parameters. These amendments aim to align the acquisition schedule and commercial terms with PWL's strategic objectives. Xylem Learning Private Limited, incorporated on December 4, 2020, is engaged in preparing students for competitive examinations like JEE and NEET through online and offline modes. Its turnover for FY25 was ₹322.26 crore (INR 3222.61 Million), FY24 was ₹225.47 crore (INR 2254.70 Million), and FY23 was ₹104.33 crore (INR 1043.31 Million). The total consideration for the acquisition of these 930 shares is ₹122.90 crore (INR 1,22,90,00,580), representing an acquisition at a premium. The company intends to complete the acquisition of 100% shareholding in Xylem by FY 2029-2030. The Board meeting commenced at 04:00 P.M. (IST) and concluded at 04:30 P.M. (IST).