Edtech startup PhysicsWallah to launch ₹3,820 crore IPO

Business Oct 30, 2025

Edtech startup PhysicsWallah is set to launch an IPO, aiming to raise about ₹3,820 crore and reach a $5 billion valuation.
The company—backed by WestBridge Capital and Hornbill Capital—is offering fresh shares worth ₹3,100 crore plus ₹720 crore from existing shareholders.
The IPO is expected to go live soon.

Plans to use funds for marketing and new centers

PhysicsWallah plans to use the funds for marketing, opening new centers, paying leases, and investing in Xylem Learning.
Founders Alakh Pandey and Prateek Boob each own just over 40% of the company.
While user growth has been strong (59% CAGR projected till FY25), the company reported ₹1,940 crore in revenue but also saw losses of ₹1,130 crore in FY24.
Still, they're betting big on future growth with this bold move.