Edtechs gear up for IPO test after long funding winter

After more than two years of a funding slowdown in the edtech ecosystem and mismatched valuation expectations in the private markets, these startups are gearing up for a public listing in the next 1-2 years.

- Mansi Verma

MUMBAI:

Professional learning provider Imarticus, B2B edtech platform Classplus, online higher education company Jaro Education, and full-stack edtech unicorn Physics Wallah are among those that have set the ball rolling for their public market debut. While some have already filed their offer documents, others are in discussions to finalize bankers for their initial public offerings (IPOs).

Physics Wallah, which appointed Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan as bankers, is scheduled to file its draft red herring prospectus (DRHP) within the next month, three people aware of the development told Mint. The company plans to raise $300-$400 million, one of the three persons cited earlier said, all of whom spoke on the condition of anonymity.