PhysicsWallah, the edtech platform founded by the popular teacher Alakh Pandey, is preparing to make a landmark entry into the public markets. The company has filed updated papers with the Securities and Exchange Board of India and is targeting to raise Rs 3,820 crore through its initial public offering. The debut is expected to not only strengthen its financial standing but also mark one of the largest fundraising exercises in the Indian education technology space.
Out of the total issue, fresh shares worth Rs 3,100 crore will be offered, while promoters and existing shareholders will sell shares worth Rs 720 crore. The fresh issue proceeds are earmarked for multiple growth initiatives. A significant portion will be used to set up new offline and hybrid centres, a move that underlines the company’s push into physical education spaces alongside its digital offerings. Funds will also be deployed to increase stake in Utkarsh Classes and Edutech Private Limited and to support its subsidiary Xylem Learning in expanding its presence. Additional resources will go toward acquisitions, inorganic growth, and general corporate purposes.
Alakh Pandey, who serves as the Chief Executive Officer, along with Prateek Boob, continues to lead the firm as promoter and whole-time director. Together they have shaped PhysicsWallah into a trusted name among millions of students preparing for competitive examinations.
The company’s model is a blend of online, offline, and hybrid education delivery. Through its website and mobile applications, PhysicsWallah reaches students across the country. Its YouTube channel, “PhysicsWallah Alakh Pandey,” had nearly 13.7 million subscribers by July 2025, underscoring its digital strength. Beyond online classes, the company operates tech-enabled offline centres branded as Vidyapeeth. As of March 2025, there were 198 such centres. Another unique model called Pathshala blends digital lectures with in-person faculty support at physical centres, many of which operate through franchise partners.
PhysicsWallah has grown into a multi-faceted education provider, offering courses for examinations like JEE, NEET, and UPSC, as well as GATE, Chartered Accountancy, MBA, defence recruitment tests, and several government examinations. Its success has been built on affordability, accessibility, and a teaching approach that resonates with students from small towns to big cities.
However, challenges remain. The ability to continuously attract and retain students is crucial. Expansion into multiple geographies while maintaining quality is another key test. Student outcomes and mental well-being also play a role in sustaining reputation. The retention of senior faculty is an additional concern, as competitors or independent ventures may lure away talent, taking with them valuable experience and strategies.
Despite these risks, investor interest is expected to be strong, given the scale, brand power, and growth trajectory of the company. Book-running lead managers for the issue include Kotak Mahindra Capital Company, JPMorgan India, Goldman Sachs India, and Axis Capital, while MUFG Intime India will serve as registrar.
The PhysicsWallah IPO is being closely watched not just by market participants but also by millions of students and families who associate with its brand. If successful, it could mark a new chapter for the edtech sector in India, showing that education-focused digital platforms can scale, diversify, and win the trust of public market investors.
Follow You Finance on Instagram and Facebook for detailed IPO insights, stock market updates, and strategies that help you make smarter financial decisions.
