Edtech unicorn PhysicsWallah, led by Alakh Pandey, has received the official approval from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO). This marks a major milestone for India’s education technology sector, which has been eager to see new listings.
PhysicsWallah confidentially filed its draft papers with SEBI in March and now joins a fresh wave of tech startups planning to go public in 2025. The IPO is expected to raise around Rs 4,600 crore, through both new share issues and selling shares held by existing investors.
PhysicsWallah IPO Approval
The company is supported by top investors including Lightspeed Venture Partners, WestBridge Capital, Hornbill Capital, and GSV Ventures. PhysicsWallah currently has an estimated valuation of about $2.8 billion, which could translate to roughly Rs 40,000 crore post-listing—making it India’s first edtech unicorn to go public.
In preparation for its market debut, PhysicsWallah converted into a public limited company earlier this year. It also appointed three independent directors to strengthen governance and brought in Satish Sharma as chief marketing officer in June to boost brand and growth strategies.
Focuses on Offline Growth
Founded by Alakh Pandey, PhysicsWallah first became popular by offering affordable online test prep and school-level content. Unlike many edtech firms that faced declining interest and slower growth, PhysicsWallah invested in physical centers to reach more students.
The company plans to earn over Rs 1,000 crore in revenue from its offline centers alone, with new centers planned in several cities. While annual results for FY25 are yet to be shared, the firm reported Rs 1,940.4 crore in revenue for FY24. However, it also reported a net loss of Rs 1,131 crore during that year, partly due to business expansion costs.
Who is Alakh Pandey
Alakh Pandey is the founder and face of PhysicsWallah. Starting as a teacher making YouTube videos, he quickly attracted millions of students who valued his clear and low-cost approach to subjects like physics and chemistry. Today, he leads one of India’s most recognized edtech brands, proving that quality education can be both accessible and scalable.
