By becoming a public business, Edtech unicorn PhysicsWallah is preparing for a definitive initial public offering (IPO) strategy in 2025, marking the first significant step toward public listing.
According to its regulatory filing, PhysicsWallah’s board has accepted a resolution to rename the firm from PhysicsWallah Private Limited to PhysicsWallah Limited and convert its status to that of a public corporation.
PhysicsWallah intends to list its equity shares on one or more public markets as part of this action. It is anticipated that the company would list on public exchanges in the second half of 2025, while it has not provided a date.
Amit Sachdeva was appointed as the organization’s new chief financial officer (CFO) one month prior to the conversion into a public business.
PhysicsWallah was first established in 2016 as a YouTube channel that offered reasonably priced instruction to students getting ready for competitive tests like JEE and NEET. Under the name “PW Pathshala,” PW has grown since its founding to become a comprehensive edtech platform that provides live and recorded lectures, test series, study guides, and offline hybrid centers.
PhysicsWallah has the potential to become the first edtech company to be listed on a stock exchange with venture capital funding. According to reports, PhysicsWallah has hired investment bankers for its impending public listing, even though a number of edtech companies are competing for IPOs in the approaching years.
A total of $310 million has been raised by PhysicsWallah, including $210 million in the biggest equity round for an edtech business in recent memory. The co-founders of the company still own more than 85% of the company, which is currently valued at $2.8 billion, according to the media.
The company’s operating revenue increased significantly from Rs 744.3 crore in FY23 to Rs 1,940.4 crore in FY24. After deducting ESOP costs of Rs 151 crore and other non-cash expenditures including depreciation, amortization, and impairment, its adjusted EBITDA was positive at Rs 67 crore.
