Liquidity Events
Edtech firm PhysicsWallah's Rs.3,480-Cr IPO fully subscribed
Edtech unicorn PhysicsWallah's Initial Public Offering (IPO) of INR 3,480 crore, was fully subscribed with the employee reserve subscribed 3.46 times, Retail Individual Investors (RIIs) 1.04 times, Non-Institutional Investors (NIIs) 0.48 times, and Qualified Institutional Buyers (QIBs) 2.70 times.The IPO included a fresh equity raise of INR 3,100 crore and an offer for sale of INR 380 crore by promoters Alakh Pandey and Alakh Pandey with IPO price band set between INR 103-109 per share.Ahead of the IPO, PhysicsWallah raised INR 1,563 crore from 57 anchor investors, including WestBridge Capital, Hornbill, GSV Ventures, Goldman Sachs, and Fidelity.Founded in 2020 by Alakh Pandey and Prateek Boob, PhysicsWallah specializes in test preparation for competitive examinations like JEE and NEET, and offers professional upskilling courses in fields such as data science and software development. The company operates through an omnichannel model combining online services via social media, apps, and its website, with 303 technology-enabled offline and hybrid learning centers.
Between Jun 2022 and Nov 2025, PhysicsWallah had attracted about USD 411 M from GSV Ventures, Lightspeed Ventures, Orchid Asia, WestBridge and others.
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