Edtech unicorn PhysicsWallah has taken a significant step towards its initial public offering (IPO) by filing its draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for a ₹4,600 crore ($531.4 million) IPO ¹. This move comes after months of speculation about the company’s plans to go public.
Confidential Filing Route:
PhysicsWallah has opted for the confidential filing route, which allows companies to keep sensitive business details and financial metrics private until they decide to proceed with the IPO ². This route has been used by several other Indian companies, including Tata Play, Oyo, and Swiggy.
Expansion and Growth:
PhysicsWallah has been expanding its offline presence, with over 150 centers across 20 states in India ³. The company has also been strengthening its finance team, with the appointment of Amit Sachdeva as its Chief Financial Officer ⁴.
IPO Details:
The IPO is expected to consist of a fresh issue of shares and an offer for sale (OFS) component for selling investors ². PhysicsWallah aims to raise $500 million at a valuation of $5 billion, making it one of the largest IPOs in the Indian edtech sector ⁵.
Latest Updates:
With this IPO, PhysicsWallah is poised to become India’s first publicly listed edtech company ³. The company’s growth and expansion plans are expected to be fueled by the funds raised through the IPO.
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