Edtech startup PhysicsWallah to launch ₹3,480 crore IPO next week
PhysicsWallah is kicking off its IPO on November 11, aiming to raise ₹3,480 crore with shares priced between ₹103-109.
The offer includes a fresh issue of ₹3,100 crore and an additional ₹380 crore from founders Alakh Pandey and Prateek Maheshwari selling their shares.
The company has seen phenomenal growth in the last 2 years
Started in 2020, PhysicsWallah helps students prep for JEE and NEET exams with affordable online classes and offline centers in over 130 locations nationwide.
With over 98 million cumulative YouTube subscribers across its channels, it's built a huge student community.
The company has posted impressive growth—97% revenue CAGR and 90% EBITDA CAGR over the last two years—making it one of the fastest-growing edtechs at IPO stage.
Plans to use IPO proceeds for expansion into South India
Funds raised will boost expansion into South India and new exam categories.
About ₹1,000 crore is set aside for opening more centers, ₹710 crore for marketing efforts, and ₹200 crore for tech upgrades.
PhysicsWallah also plans to branch out into state board exams and middle school grades while keeping things affordable for students.