PhysicsWallah Strengthens Board with Three Independent Directors Ahead of IPO

Muskaan Kapoor

13 Mar 2025 — 2 min read

PhysicsWallah Adds Three Independent Directors Ahead of IPO

PhysicsWallah (PW), the renowned edtech unicorn, has appointed three independent directors to its board as it prepares for an initial public offering (IPO) later this year. The new appointees are Nitin Savara, Rachna Dikshit, and Deepak Amitabh.

Strategic Board Appointments

The inclusion of these independent directors is a strategic move to enhance corporate governance and align with regulatory requirements before filing the Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI). This step is crucial for companies transitioning to public entities.

Nitin Savara: Former Deputy Chief Financial Officer at Zomato, Savara brings extensive experience in financial management and corporate strategy.
Rachna Dikshit: A former Regional Director at the Reserve Bank of India (RBI), Dikshit has a deep understanding of regulatory frameworks and compliance.
Deepak Amitabh: An ex-bureaucrat with a background in the Indian Revenue Service (IRS), Amitabh has held significant positions, including leadership roles at PTC India and currently with the Adani Group.

Board Composition and IPO Preparations

Alongside the new independent directors, the board includes co-founders Alakh Pandey and Prateek Maheshwari, as well as Sandeep Singhal, Co-founder and Managing Partner at WestBridge Capital India Advisors. The board has also re-designated Alakh Pandey and Prateek Boob as whole-time directors from their previous role of executive directors.

In December 2024, PhysicsWallah transitioned into a public entity, rebranding from PhysicsWallah Private Limited to PhysicsWallah Limited. This rebranding is a major milestone in the company's journey towards its IPO.

Financial Advisors and IPO Outlook

The company has appointed Kotak Mahindra Capital, Goldman Sachs, Axis Capital, and JP Morgan as its listing bankers. These appointments are part of the strategic preparations for the upcoming IPO, which is expected to raise substantial capital to fuel the company's growth and expansion plans.

Recent Key Appointments

In addition to strengthening its board, PhysicsWallah has made several key hires in recent months. In January, Ajinkya Jain was appointed as Group General Counsel, Company Secretary, and Compliance Officer. In November, Amit Sachdeva, former CFO of Blinkit, joined as Chief Financial Officer.

PhysicsWallah Overview

Founded by Alakh Pandey, PhysicsWallah has emerged as a leading edtech platform in India, offering affordable online courses and exam preparation materials. The company's unique approach to accessible education has gained a strong user base and positioned it as a significant player in the edtech industry.

As PhysicsWallah moves closer to its IPO, adding experienced independent directors shows its focus on strong governance and compliance. These steps highlight the company's commitment to high standards as it prepares to go public.