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PhysicsWallah, the Noida-based edtech unicorn, has confidentially filed draft papers with the Securities and Exchange Board of India (SEBI) for an Initial Public Offering (IPO) aiming to raise approximately ₹4,600 crore (about $500 million). The IPO is expected to include both fresh issuance of shares and an Offer for Sale (OFS) component.
In September 2024, the company secured $210 million in private funding led by Hornbill Capital, valuing PhysicsWallah at $2.8 billion. Other investors include Lightspeed Venture Partners, GSV Ventures, and WestBridge Capital.
PhysicsWallah joins a cohort of startups such as Zepto, Pine Labs, Infra.Market, and Groww, all planning to go public this year. The confidential filing route offers flexibility in adjusting the issue size and timing while keeping financial details private, a strategic choice amid volatile market conditions.
Despite increased investor scrutiny in the edtech sector following challenges faced by companies like Byju's, PhysicsWallah has continued to attract substantial investments, reflecting confidence in its business model and growth prospects.
Source: https://timesofindia.indiatimes.com/business/india-business/physicswallah-files-draft-papers-for-rs-4600cr-ipo/articleshow/119186213.cms
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