PhysicsWallah Cracks the IPO Code

PhysicsWallah, a leading edtech unicorn, has filed draft IPO papers with the Securities and Exchange Board of India (Sebi) through a confidential pre-filing route. This approach allows the company to keep its financial details private until it decides to proceed with the IPO. The proposed IPO aims to raise approximately ₹4,600 crore, comprising both fresh equity shares and an offer for sale. PhysicsWallah, valued at $2.8 billion after a recent funding round, is poised to become India's first edtech company to list on the stock market if the IPO is successful. The confidential filing provides flexibility in market conditions and avoids premature public scrutiny.

Source: Firstpost, Times of India, Business Standard