Physics Wallah submits pre-filing draft papers with Sebi for IPO: Reports

The pre-filing draft documents of Physics Wallah, according to the reports, have been filed with Sebi after receiving the nod from the company's board

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Physics Wallah IPO update: Educator Alakh Pandey-led edtech unicorn Physics Wallah is moving closer to going public. The edtech firm has filed a pre-filing draft offer document (PDRHP) with capital market regulator Securities and Exchange Board of India (Sebi) to raise Rs 4,600 crore via an initial public offering (IPO), according to reports.

 

The pre-filing of offer documents is an optional alternative mechanism for the purpose of an Initial public offering on the mainboard. According to Sebi guidelines, companies desirous of coming out with an IPO on the mainboard make a “pre-filing” of the offer document with Sebi and stock exchanges without making it available to the public for an initial scrutiny period only.

 

The pre-filing draft documents, according to the reports, have been filed with Sebi after receiving the nod from the company’s board. The public offering of Physics Wallah is likely to comprise both a fresh issue of equity shares as well as an offer for sale (OFS) of equity shares.

 

With this, Physics Wallah has become the seventh major Indian firm to opt for the confidential pre-filing route after Swiggy, Vishal Mega Mart, Tata Play, Oyo, Credila Financial Services, and Indira IVF.

 

Earlier in November 2024, Business Standard had reported that "the two founders of Physics Wallah are in talks with investment bankers after closing a funding round of $210 million as they prepare for an initial public offering (IPO)." READ MORE

 

Physics Wallah was co-founded in 2020 by Alakh Pandey and Prateek Maheshwari as an edtech platform. The platform has raised funding from investors including Hornbill Capital, Lightspeed Ventures, Westbridge, and GSV Ventures. Initially started as a YouTube channel, Physics Wallah provides NCERT solutions, sample papers, NEET, JEE Mains, and BITSAT previous year papers. Physics Wallah also caters to over 3.5 million registered students and over 78 lakh YouTube subscribers, with a 4.8 rating on its app.

 

If Physics Wallah succeeds in sailing through the IPO process and gets listed on the bourses, this would make it the first Indian edtech firm to do so at home.