PhysicsWallah Files ₹3,480 Crore IPO to Scale EdTech Innovation and Expand Global Reach

PhysicsWallah Limited, one of India’s most influential edtech platforms, has officially announced its Initial Public Offering (IPO), marking a significant milestone in its journey from grassroots digital education to a publicly listed enterprise. The IPO, valued at ₹3,480 crore, reflects the company’s strategic intent to scale operations, enhance product innovation, and expand its reach across domestic and international markets.

Founded by Alakh Pandey and Prateek Maheshwari, PhysicsWallah began as a YouTube channel offering affordable science education and has since evolved into a full-stack edtech company serving millions of students across India. With a focus on competitive exam preparation, personalized learning, and vernacular content, the platform has become a household name among aspirants of JEE, NEET, UPSC, and state-level exams.

The IPO comprises a mix of fresh issue and offer-for-sale components, with proceeds earmarked for technology enhancement, content development, offline expansion, and strategic acquisitions. The offering is being managed by a consortium of top-tier Book Running Lead Managers (BRLMs), including Kotak Mahindra Capital, JP Morgan India, Goldman Sachs India Securities, and Axis Capital.

PhysicsWallah’s rise has been driven by its unique blend of affordability, accessibility, and academic rigor. The platform currently serves over 10 million monthly active users, with a growing footprint in Tier-2 and Tier-3 cities. Its hybrid model—combining online classes, offline centers, and printed study material—has enabled it to reach underserved student populations while maintaining high-quality instruction.

Speaking about the IPO, Alakh Pandey, Co-Founder and CEO, emphasized the company’s mission: “PhysicsWallah was built to make education accessible to every student, regardless of geography or economic background. This IPO is not just a financial milestone—it’s a reaffirmation of our commitment to democratize learning and empower the next generation.”

The company’s financials reflect robust growth, with consistent profitability and strong cash flows. PhysicsWallah has also made strategic investments in AI-driven learning tools, adaptive assessments, and multilingual content delivery, positioning itself as a tech-first education provider.

Prateek Maheshwari, Co-Founder and Whole Time Director, added, “We’ve always believed in building for Bharat. Our platform is designed to meet the diverse needs of students across India, and this IPO will help us scale that vision globally.”

The IPO proceeds will be used to expand PhysicsWallah’s offline centers, enhance its digital infrastructure, and invest in new verticals such as upskilling, test series, and international exam prep. The company also plans to explore partnerships with schools and colleges to integrate its learning solutions into formal education systems.

CFO Amit Sachdeva highlighted the company’s financial discipline and growth strategy: “We’ve built a sustainable business model that balances scale with impact. Our IPO will strengthen our balance sheet and enable us to invest in long-term innovation.”

Industry analysts view PhysicsWallah’s IPO as a bellwether for India’s edtech sector, which is undergoing a shift from hypergrowth to sustainable scale. With increasing demand for personalized, affordable, and outcome-driven education, platforms like PhysicsWallah are well-positioned to lead the next phase of digital learning.

The company’s IPO also signals a broader trend of mission-driven startups entering public markets, offering investors a chance to participate in businesses that combine profitability with purpose. PhysicsWallah’s journey—from a single educator’s vision to a multi-crore enterprise—serves as a powerful example of how technology can transform education at scale.

As PhysicsWallah prepares for its public debut, it remains focused on its core values: accessibility, affordability, and academic excellence. The IPO is not just a financial event—it’s a celebration of learning, innovation, and the power of purpose-driven entrepreneurship.