Edtech unicorn PhysicsWallah (PW) has taken a major step toward going public. The company has filed its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an initial public offering (IPO). According to reports, the IPO size is expected to be around ₹4,600 crore ($500 million).
PhysicsWallah Files IPO Papers
The IPO will include a fresh issue of equity shares along with an offer for sale (OFS) from existing investors. The pre-filing was done confidentially, a method introduced by SEBI to allow companies to submit IPO documents privately. This keeps sensitive financial information secure during the initial scrutiny period.
PhysicsWallah has confidentially filed draft papers with SEBI for a ₹4,600 crore ($500 million) IPO. The offering will include a fresh issue of shares and an offer for sale by existing investors. pic.twitter.com/TetNSLgVwo
— BigBreakingWire (@BigBreakingWire) March 19, 2025
PhysicsWallah has joined the likes of Swiggy, OYO, Tata Play, and Vishal Mega Mart, who also opted for the confidential filing route.
About PhysicsWallah
Founded in 2020 by educator Alakh Pandey and entrepreneur Prateek Maheshwari, PhysicsWallah started as a YouTube channel offering educational content for competitive exams like NEET and JEE. Today, it has grown into a large edtech platform with over 3.5 million registered students and 78 lakh subscribers on YouTube.
The platform offers video lectures, mock tests, study materials, and guidance for more than 35 exam categories, including UPSC, CA, and law.
Strong Financial Backing
PhysicsWallah is backed by major investors such as Westbridge Capital, Lightspeed Venture Partners, GSV Ventures, and Hornbill Capital. In September 2024, the company raised $210 million in a Series B funding round, valuing it at $2.8 billion. This was a significant leap from its earlier valuation of $1.1 billion.
Investment Bankers on Board
The company has appointed leading investment banks, including Kotak Mahindra Capital, JP Morgan, Axis Bank, and Goldman Sachs, to manage the IPO process.
Why is PhysicsWallah Going Public?
Going public will provide PhysicsWallah with funds to expand its offerings, strengthen technological infrastructure, and explore global markets. Despite a slowdown in the edtech sector, PhysicsWallah has maintained steady growth and aims to use the IPO proceeds for future growth and operational needs.
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Founder’s Journey: From Struggles to Success
PhysicsWallah’s success story is truly inspiring. Alakh Pandey, who grew up in a lower-middle-class family in Prayagraj, Uttar Pradesh, started tutoring students in Class 8 to support his family. After facing financial difficulties, his passion for teaching grew, leading him to build one of India’s most valued edtech companies.
Pandey believes his passion for acting helped him become a better teacher. “Teaching is like acting; you convey emotions and concepts,” he once said.
What’s Next?
If the IPO is successful, PhysicsWallah will become India’s first homegrown edtech company to list on the stock exchanges. The IPO will provide liquidity to its investors and offer opportunities for the public to invest in one of India’s leading education platforms.
With its strong presence in the edtech sector and plans for future growth, PhysicsWallah’s IPO is one to watch in the coming months.
Disclaimer: This post is just for your information and shouldn’t be taken as investment. Before deciding what investments to make, investors should talk to financial experts.
