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2d ago

PhysicsWallah Files Updated DRHP for Rs 3,820 Crore IPO

The public filing pushes the edtech toward its RHP stage following SEBI’s pre-filing review.

PhysicsWallah’s ₹3,820 cr updated IPO draft filed; Alakh Pandey, Prateek Maheshwari dilute stake
PhysicsWallah IPO
PhysicsWallah | Image: LinkedIn
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Overview

  • PW’s IPO plan totals Rs 3,820 crore, comprising a Rs 3,100 crore fresh issue and a Rs 720 crore OFS.
  • Founders Alakh Pandey and Prateek Maheshwari will sell shares worth Rs 360 crore each in the OFS.
  • Use of proceeds includes Rs 460.5 crore for new offline and hybrid centre fit-outs, Rs 548.3 crore for leases, Rs 710 crore for marketing, and Rs 200.1 crore for server and cloud, with allocations to Xylem Learning and Utkarsh Classes.
  • FY25 operating revenue rose to about Rs 2,886.6 crore as the consolidated net loss narrowed to roughly Rs 243 crore, with EBITDA turning positive.
  • Kotak Mahindra Capital, JP Morgan India, Goldman Sachs (India) Securities and Axis Capital are lead managers, and the filing follows a March confidential submission cleared by SEBI in July.