PhysicsWallah Becomes a Public Company in Preparation for its 2025 IPO

Nitin Konde, Varun Bhardwaj

Dec 20, 2024 — 2 min read

PhysicsWallah Goes Public Ahead of Its 2025 IPO Plans

PhysicsWallah, a prominent Edtech startup, has gone public in anticipation of its 2025 initial public offering (IPO). A resolution to rename the edtech unicorn from PhysicsWallah Private Limited to PhysicsWallah Limited, a public business, was passed by the board earlier this month. In a regulatory filing, the company stated, "... the board of directors of the company be and is hereby accorded to change the name of the company from "PHYSICSWALLAH PRIVATE LIMITED" to "PHYSICSWALLAH LIMITED" by removing the word "Private" before the word "Limited" from the company's name and amending the name clause of the company's memorandum of association as well as all other papers, documents, and matters created to give effect to the changed name accordingly." According to the prominent edtech company, it intends to issue its equity shares on "one or more stock exchanges."

Preparation for the Upcoming IPO

Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan were announced earlier this year as the company's chosen bankers for its anticipated $400 million to $500 million initial public offering (IPO) next year. Notably, at a valuation of $2.8 billion, the edtech giant raised $210 million in its Series B fundraising round headed by Hornbill Capital in September of this year. The round also included participation from Lightspeed Venture Partners and current investors WestBridge Capital and GSV Venture. After obtaining a $100 million funding round from Westbridge and GSV Ventures at a valuation of $1.1 billion, PhysicsWallah became a unicorn in 2022. Since then, it has acquired other businesses and entered the offline market to broaden its product offerings. Alakh Pandey and Prateek Maheshwari founded the business in 2020, and it now has hybrid and offline locations in over 105 Indian cities.

What PhysicsWallah Offers?

Two Gurukulam Schools, test preparation in forty-three categories, a skilling vertical, and verticals for higher education and study abroad are just a few of the educational segments that PhysicsWallah offers. Additionally, it asserts that its 112 YouTube channels in five vernacular languages provide free education to more than 4.6 Cr students. The net loss for PhysicsWallah increased from INR 84.06 Cr in FY23 to INR 1,131.2 Cr in FY24, the fiscal year that ended in March 2024. In FY24, operating revenue climbed 2.6 times to INR 1,940.4 Cr from INR 744.3 Cr the year before.

Amit Sachdeva, a former CFO at Blinkit, was appointed as the new chief financial officer of Physics Wallah (PW) last month. Sachdeva will oversee the company's finance and strategic activities as the Noida-based edtech startup prepares for its initial public offering (IPO). According to a release, PhysicsWallah hopes to further its objective of offering high-quality education, promote sustainable growth, and improve its financial management and planning under his direction.