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PhysicsWallah Files ₹3,820 Crore IPO to Accelerate Growth and Expansion

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Business Honor
08 September, 2025

EdTech unicorn PhysicsWallah eyes IPO proceeds for infrastructure, marketing, and hybrid centers.

PhysicsWallah, India's fast-emerging EdTech unicorn, has submitted revised draft papers with the Securities and Exchange Board of India (SEBI) to raise ₹3,820 crore via an Initial Public Offering (IPO). The step is designed to finance its growth and expansion plans, further consolidating its position in the crowded online education sector. The planned IPO consists of a new issue of equity shares of ₹3,100 crore and an offer for sale of shares worth ₹720 crore by Alakh Pandey and Prateek Boob, the promoters of PhysicsWallah. The two promoters will be selling shares worth ₹360 crore each. Currently, Alakh Pandey and Prateek Boob own a 40.35% stake each in PhysicsWallah.

The firm, which had filed its preliminary papers in March, got the green signal from SEBI in July. Now, it is seeking funds for some of its priority projects such as creating offline and hybrid centers, which mix online classes with on-campus support. Proceeds from the IPO will also be utilized to fund server and cloud infrastructure, advertising and investment in its subsidiary, Xylem Learning. PhysicsWallah, which offers test preparation classes for competitive exams such as JEE, NEET, and GATE, boasts a robust online presence over 13.7 million subscribers to its YouTube channel and nearly 99 million subscribers across its network of YouTube channels. Apart from online classes, the firm is expanding its offline presence, making education more accessible to students across India. Despite losses of ₹243 crore in FY25, the company has seen noteworthy revenue growth to ₹2,887 crore from ₹1,941 crore in the previous year. With investors such as WestBridge Capital and GSV Ventures standing behind it, the IPO of PhysicsWallah is likely to further drive its vision to revolutionize the EdTech scenario in India.