SEBI Clears PhysicsWallah’s Confidential DRHP for Rs 4,600 Crore IPO
It will file its draft prospectus publicly to launch an estimated Rs 4,600 crore IPO at a higher valuation than its previous funding round
Overview
- On July 18, SEBI issued observations on PhysicsWallah’s confidential draft red herring prospectus, granting approval to proceed with its initial public offering.
- The edtech unicorn is preparing to refile updated offer documents publicly ahead of its planned Rs 4,600 crore share sale.
- The IPO structure will include fresh share issuance alongside a significant offer-for-sale by existing investors.
- In its last funding round led by Hornbill Capital, PhysicsWallah raised about Rs 1,750 crore at a Rs 23,400 crore valuation, and the upcoming IPO is expected to exceed that level.
- Co-founded by Alakh Pandey and Prateek Maheshwari, PhysicsWallah reaches over 10 million paid students and 36 million YouTube learners across 135 cities.