PhysicsWallah's Gravity-Defying Move: New Directors Launch IPO Countdown

Edtech unicorn PhysicsWallah (PW), which has been gearing up for an Initial Public Offering (IPO) in 2025, has added three independent directors to its board, which signals that it is now ready to file its Draft Red Herring Prospectus with SEBI. PW has hired Nitin Savara, former deputy CFO and ex-Zomato; Rachna Dikshit, former RBI regional director; and Deepak Amitabh, a retired bureaucrat with extensive corporate experience. This strategic hiring adds strength to PW's corporate governance structure as it gears up to file its Draft Red Herring Prospectus with SEBI. The company, valued at $3.7 billion after a recent pre-IPO fund raise of $25 million, has also re-designated co-founders Alakh Pandey and Prateek Maheshwari as whole-time directors. PW's plan to go public and hiring of top financial institutions as listing bankers signal that it is serious about a successful public issue.

 

Source: TechNews Today