This IPO’s draft paper has been submitted to the SEBI(Securities and Exchange Board of India) after the confirmation with the board, according to sources.
PhysicsWallah is backed by top investors including Westbridge Capital, GSV Ventures, Lightspeed Venture Partners, and Hornbill Capital.
For its IPO, PhysicsWallah has chosen Kotak Mahindra Capital, Axis Bank, JP Morgan, and Goldman Sachs to help launch a $400-500 million IPO in 2025.
If listing would happen, so it have a chance for PhysicsWallah, to be the first Indian edtech firm to list on domestic stock exchanges.
PhysicsWallah company had asked more than 10 investment banks to take the handling of their IPO because they want a quick move and to be publicly listed as soon as possible.
Advantages of Confidential Filing Route
This makes PhysicsWallah’s IPO the 7th major Indian company to opt for the confidential pre-filing route, joining the likes of Tata Play, Oyo, Swiggy, Vishal Mega Mart, Credila Financial Services, and Indira IVF.
The confidential pre-filing route, launched by SEBI in November 2022, could assist them in keeping details regarding business, financial information, risk, and private information.
This step, helps them to keep all information secret until the listing is done and also they could have alternation regarding IPO details, depending on market sentiment.
PhysicsWallah valuation
Despite challenges in the Indian edtech sector, PhysicsWallah’s valuation has increased to $2.8 billion, 2.5 times its previous valuation of $1.1 billion after the last funding round.
PhysicsWallah has a YouTube channel and offers NCERT solutions, sample papers, and previous year papers for NEET, JEE Mains, and BITSAT.
PhysicsWallah has over 3.5 million registered students and 78 lakh YouTube subscribers, along with a 4.8 rating on its app.
