PhysicsWallah Revises IPO Papers, to Raise ₹3,820 Cr

Edtech firm eyes near-doubling of valuation to $5 bn

- FE BUREAU

EDTECH UNICORN PhysicsWallah has filed its updated draft red herring prospectus with the Securities and Exchange Board of India (Sebi), setting the stage for a ₹3,820-crore initial public offering (IPO).

The IPO comprises a fresh issue of equity shares worth ₹3,100 crore and an offer for sale (OFS) of ₹720 crore by existing shareholders, including promoters Alakh Pandey and Prateek Maheshwari.

The market regulator had earlier approved the company's confidential pre-filing of draft papers in July, allowing PhysicsWallah (PW) to undergo regulatory review before making the documents public.