MUMBAI: A New Chapter for PhysicsWallah

In a bold move, PhysicsWallah has taken the first step towards its $500 million (approximately Rs 4,600 crore) Initial Public Offering (IPO) by filing draft papers with the Securities and Exchange Board of India (Sebi) through the confidential filing route. This strategic approach allows the company to keep its financial details under wraps while retaining the flexibility to adjust the issue size and timing of the listing.

Amidst the unpredictable market conditions that have led several new-age companies to reconsider their IPO plans, PhysicsWallah's decision to opt for a confidential filing highlights its confidence in navigating the current economic landscape. The Noida-based edtech unicorn is part of a growing list of startups, including Zepto, Pine Labs, Infra.Market, and Groww, aiming for a bourse listing this year.

Despite the heightened scrutiny around edtech investments following the Byju’s fiasco, PhysicsWallah successfully secured $210 million in private funding in September 2024, led by Hornbill Capital, valuing the company at $2.8 billion. This funding round saw participation from notable investors such as Lightspeed Venture Partners, GSV Ventures, and WestBridge Capital, underscoring the strong investor confidence in PhysicsWallah's growth trajectory and its potential to redefine the educational landscape in India.