Edtech company PhysicsWallah, backed by Westbridge Capital, has filed its Draft Red Herring Prospectus (DRHP) with SEBI for an Initial Public Offering (IPO).
The filing was done on 6 September, and the company aims to raise ₹3,820 crore.
Earlier, in July 2024, SEBI had approved the confidential pre-filing draft of the company’s IPO.
According to the plan, PhysicsWallah will raise ₹3,100 crore by issuing fresh shares, while promoters Alakh Pandey and Prateek Boob will sell shares worth ₹720 crore through an Offer-for-Sale (OFS).
How PhysicsWallah Will Use IPO Funds
The company has shared details of how the funds from the fresh issue will be utilized:
₹460.6 crore – For building new offline and hybrid centers.
₹548.3 crore – For lease payments of existing offline and hybrid centers.
₹47.2 crore – To cover expenses of its subsidiary Xylem Learning.
₹33.7 crore – For lease payments of Utkarsh Classes’ offline centers.
₹26.5 crore – To purchase additional shares in Utkarsh Classes.
₹200.1 crore – For server and cloud infrastructure costs.
₹710 crore – On marketing activities.
The remaining funds will go towards general corporate purposes.
