PhysicsWallah, a name that’s become almost synonymous with cracking competitive exams in India, is now setting its sights on the big leagues with plans for an IPO in 2025. The company, which has grown from a modest startup to a major player in the edtech scene, has just rebranded to PhysicsWallah Limited. This isn’t just about a new name; it’s a clear sign that the company is ready to take on the public markets head-on.
Physicswallah – From Startup to Public Entity
The journey to an IPO isn’t a walk in the park. The PhysicsWallah board recently gave the thumbs up to move forward with this plan. The rebranding is more than a facelift; it’s a statement that the company is here for the long haul, ready to expand and dominate in the edtech space. For smooth going, PhysicsWallah is in talks with Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan. The IPO aims to raise somewhere between USD 400 million and USD 500 million, which shows just how big the company is thinking.
This IPO buzz follows a hefty Series B funding round back in September 2024, where Hornbill Capital led with USD 210 million, pushing PhysicsWallah’s valuation to INR 2.8 billion. But it’s not just about the cash; this round was a vote of confidence from giants like Lightspeed Venture Partners, GSV Ventures, and WestBridge Capital. Remember, this isn’t PhysicsWallah’s first rodeo; the company hit unicorn status back in 2022 with USD 100 million, valuing them at INR 1.1 billion. These funding successes paint a picture of a company on a steep upward trajectory.
Journey of PhysicsWallah
Founded by Alakh Pandey and Prateek Maheshwari back in 2020, PhysicsWallah wasn’t always this sprawling empire. Starting with a mission to help students ace competitive exams, it’s now a comprehensive educational hub. The company has set up learning centres in over 105 cities and caters to 43 different exams. The company has also branched out into skill development, higher education, and even study-abroad programs. Their Gurukulam Schools are a nod to traditional teaching with a modern twist.
On the digital side, PhysicsWallah is massive. With 112 YouTube channels, it reached over 46 million students in 2024, offering content in five different languages, making education accessible no matter where you are in India.
Financial Ups and Downs
It’s not all been smooth sailing, though. Financially, the company has seen some rough patches. In FY24, it reported a net loss of INR 1,131.2 crore, a sharp rise from the previous year’s INR 84.06 crore. But here’s the catch: the company’s operating revenue has skyrocketed, jumping 2.6 times to INR 1,940.4 crore in FY24 from INR 744.3 crore in FY23. This shows a company that’s growing fast but also wrestling with the costs of that growth.
PhysicsWallah Upcoming IPO
As they edge closer to the IPO, it’s clear PhysicsWallah is playing a long game. This isn’t just about raising funds; it’s about establishing themselves as a market leader. The money from the IPO could go into scaling up, tech enhancements, or new market explorations.
For investors, this IPO could be a golden ticket. PhysicsWallah’s broad reach, diverse offerings, and loyal fanbase make it stand out. But it’ll also be a litmus test for how well they can handle the spotlight of being public while sticking to their core values.
Looking Ahead
PhysicsWallah’s story is a microcosm of the boom in India’s edtech sector. From where they started to where they’re headed, the journey has been nothing short of remarkable. With the IPO on the horizon, the focus now turns to execution.
As they step into this public arena, PhysicsWallah carries the aspirations of millions of students, investors, and stakeholders. Whether it’s expanding their schools or enhancing their digital platforms, keeping education accessible and inclusive will be key. One thing’s for sure, the industry will be watching with bated breath.  For more information related to IPO GMP, SEBI IPO Approval, and Live Subscription stay tuned to IPO Central.
