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News Topical, Digital Desk : PhysicsWallah IPO: Edtech unicorn PhysicsWallah has filed updated draft papers with market regulator SEBI. The company is preparing to raise Rs 3,820 crore, out of which Rs 3,100 crore will be raised from new equity shares and Rs 720 crore from Offer for Sale (OFS). This IPO is being brought to further the expansion and growth initiatives of the company.
Through PhysicsWallah IPO Price Band
OFS, both the promoters of the company, Alakh Pandey and Prateek Boob, will sell shares worth Rs 360 crore each. Currently, both of them have 40.35 percent stake in the company. The company had earlier filed draft papers through the confidential pre-filing route in March, which got SEBI approval in July. Out of the amount raised from the IPO:
- Rs 460.5 crore will be spent on fit-out of new offline and hybrid centres.
- Rs 548.3 crore will be used for lease of existing centres.
- Rs 47.2 crore will be invested in its subsidiary Xylem Learning.
- Rs 33.7 crore will be for the lease payment of Utkarsh Classes & Edutech centres.
- Rs 200.1 crore will be spent on servers and cloud infrastructure.
- Rs 710 crore will be spent on marketing initiatives.
PhysicsWallah prepares students for exams like JEE, NEET, UPSC, GATE on both online and offline platforms. The company's main YouTube channel 'Physics Wallah - Alakh Pandey' has 13.7 million subscribers, while the entire network has around 98.8 million subscribers by June 2025. The company's loss reduced to Rs 243 crore by March 2025 from Rs 1,131 crore last year. At the same time, revenue increased to Rs 2,887 crore. Kotak Mahindra Capital, JP Morgan India, Goldman Sachs India and Axis Capital have been appointed to manage the company's IPO.
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