PhysicsWallah IPO: The Securities and Exchange Board of India (SEBI) has approved the pre-five draft filed for the IPO of Ed-Tech firm Physicswala. According to Reuters, there is a notification on this website about this. Physicswala filed a draft from the confidantial route. Founders of Physicswala are Alakh Pandey and Prateek Maheshwari.
Confidential root provides secrecy to companies until the final decision on the listing. If necessary, they can later withdraw the draft without disclosing important information based on market conditions.
Confidential pre-filing companies allow sensitive business details or financial metrics and risk to be kept secret, especially from computers. Standard DRHP (draft red herring prospectus) on the other hand becomes a public document after filing.
Draft was deposited in March 2025
Physicswallah submitted a draft for IPO of about Rs 4,600 crore in March 2025. Physicswala is one of the few aditect startups in the country who have achieved unicorn status. Unicorn means the valuation of the startup crossing $ 1 billion. Several big investment firms such as Westbridge Capital, GSV Ventures, LightSpeed Venture Partners and Hornbill Capital have invested in Physicswala. If this listing is successful, then Physics can become the first Edtech startup to be listed in the Indian stock market.
OFD along with new shares in IPO
Physicswallah’s IPO will have new shares as well as offer for sale from existing shareholders. Physicswala has appointed Kotak Mahindra Capital, Axis Bank, JP Morgan and Goldman Sachs as book-hanging lead managers for this IPO. In September 2024, the company raised $ 210 million (₹ 1,750 crore) led by the Hornbill Capital. This round was attended by current investors like LightSpeed Venture Partners, Westbridge Capital and GSV Ventures.