PhysicsWallah IPO: Popular Edtech company Physicswallah has also now joined the IPO race. The company has also submitted a secretly application to the stock market regulator SEBI to bring an Initial Public Offer (IPO) of about Rs 4,600 crore. Many sources aware of this matter have given this information to Moneycontrol. Physicswala is one of the few Ginchuns of the country Edtech Startups that have achieved unicorn status. Unicorn means that the valuation of this startup has crossed $ 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.
“Following the board’s approval, the company has submitted draft documents to SEBI. Companies in many sectors are now using this secret pre-filing route for IPO application,” said a source.
There will be a mixture of fresh issue and offs in IPO
Another source said that Physicswala’s IPO will also include a part of the offer for sale (OSS) along with releasing new shares. That is, along with issuing new shares, some current investors will also sell their stake. Through this IPO, Physicswallah has planned to achieve its previous valuation, value of more than $ 2.8 billion.
Important information related to IPO
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.
What is the use of secret pre-filing?
Physicswallah is launching IPO under the Confidential Pre-Filing process. This is an option launched by SEBI in November 2022 for the main board issues. Under this, companies can hide their sensitive business details and financial risks from competitors. If the market situation is not favorable, they can withdraw the IPO scheme without publicly sharing information.
In the traditional process, the draft paper already becomes public, while in pre-filing it is kept confidential.
Prior to Physicswala, companies like Tata Play, Oyo, Swigi, Vishal Mega Mart, Credila Financial Services and Indira IVF have also submitted applications for IPOs in the same manner. Physicswala has become the seventh big company to do so.
Please tell that Physicswallah was founded by Alakh Pandey and Prateek Maheshwari. According to the company’s claim, it has more than 55 million paid students. It has 4.6 crore YouTube subscribers. Physicswala has 14,000+ employees. In 105 cities of India, more than 2 lakh students are studying in its offline coaching center.
Also read- LG Electronics gets approval from SEBI for IPO, plan to sell 10.18 crore shares, know details
