PhysicsWallah Limited has approved the third tranche in its planned acquisition of Utkarsh Classes & Edutech Pvt. Ltd., raising its stake from 63.25% to 75.50%. The ₹26.5 crore cash deal is part of the company’s multi-stage plan to acquire 100% ownership by March 2028, strengthening its foothold in India’s growing edtech sector.
PhysicsWallah Limited announced a major step in its ongoing acquisition of Utkarsh Classes & Edutech Pvt. Ltd., with the board approving the third tranche of investment, raising its shareholding to 75.50%. This move deepens the synergy between PhysicsWallah’s digital learning ecosystem and Utkarsh’s strong offline education network.
Key Developments:
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Stake hike approved
The Audit Committee has cleared the acquisition of 25,599 equity shares, increasing PhysicsWallah Limited’s ownership in Utkarsh Classes from 63.25% to 75.50%.
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Investment value and mode
The cash transaction amounts to ₹26.5 crore, with each share priced at a ₹10 face value and a ₹10,342 premium.
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Part of planned acquisition path
This represents the third tranche under the Share Acquisition Terms Agreement (SATA) signed in February 2023. PhysicsWallah Limited aims to complete the acquisition of 100% ownership by March 2028.
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Financial snapshot of target
Utkarsh Classes, incorporated in 2018, reported a turnover of ₹1,689.56 million and a paid-up share capital of ₹20.89 lakh. The firm offers coaching for competitive exams and provides diverse online education solutions.
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Strategic significance
The acquisition aligns with PhysicsWallah Limited’s IPO objectives, expanding its hybrid education model while leveraging Utkarsh’s regional prominence in Rajasthan and North India.
This acquisition milestone places PhysicsWallah Limited firmly among India’s leading education technology players, enhancing its reach across K-12, test preparation, and professional learning segments.
Sources: PhysicsWallah Limited exchange filing, BSE corporate announcement