PhysicsWallah IPO: Edtech startup to raise ₹3,480 crore
PhysicsWallah, the edtech startup that began as a YouTube channel, is going public with an IPO on November 11, aiming to raise ₹3,480 crore.
The offer includes a fresh issue of ₹3,100 crore.
Allotment is set for November 14 and the stock will list by November 18.
Revenue nearly doubled in a year
PhysicsWallah has grown into a major education platform offering online classes, offline centers, and test prep services.
From FY24 to FY25, its revenue jumped from ₹1,940 crore to ₹2,886 crore—nearly doubling in just a year.
The company rapidly expanded its offline presence and saw strong growth in paying online users.
Competing with giants in India's booming test-prep market
PhysicsWallah cut its losses sharply this year—from ₹1,131 crore down to ₹243 crore. Almost half its revenue now comes from online channels.
With big acquisitions like Utkarsh Classes and Xylem Learning under its belt, PhysicsWallah is gearing up to compete with giants like Aakash Institute and Unacademy as India's test-prep market keeps booming.