PhysicsWallah Moves Closer To IPO With SEBI Nod On Pre-Filing Draft

 

Edtech unicorn PhysicsWallah Ltd has received regulatory clearance from the Securities and Exchange Board of India (SEBI) for its confidential pre-filing draft red herring prospectus, paving the way for a potential ₹4,600 crore initial public offering. The Noida-based firm is now among a select group of Indian startups opting for the flexible pre-filing route.

 

Key Highlights From The SEBI Approval

 

- PhysicsWallah filed its pre-DRHP under SEBI’s ICDR Regulations, allowing it to withhold public disclosure of IPO details during early review  

- The proposed IPO is expected to include both a fresh issue of equity shares and an offer for sale by existing investors  

- SEBI’s approval grants the company up to 18 months to launch the IPO, compared to 12 months under the traditional route  

- The pre-filing route also permits up to 50 percent modification in the primary issue size before the updated DRHP stage  

 

Company Profile And Strategic Context

 

- Founded in 2020 by Alakh Pandey and Prateek Maheshwari, PhysicsWallah offers online, offline, and hybrid learning solutions across India  

- The platform serves over 3.5 million registered students and has raised USD 210 million in funding, valuing it at USD 2.8 billion  

- The IPO aims to fund expansion, enhance tech infrastructure, and unlock value for early investors including WestBridge Capital and Hornbill Capital  

 

Outlook

 

PhysicsWallah’s IPO journey marks a milestone for India’s edtech sector, potentially making it the first homegrown player to list domestically. Market watchers anticipate further disclosures as the company moves toward finalizing its offer.

 

Sources: Economic Times, Business Standard, Telegraph India, Firstpost, Fortune India.