PhysicsWallah Restructures Board, Raises Valuation, and Prepares for IPO

Edtech company PhysicsWallah has added three independent directors - Nitin Savara, Rachna Dikshit, and Deepak Amitabh - to follow legal rules before submitting its Draft Red Herring Prospectus (DRHP) to SEBI for its IPO.

It changed Alakh Pandey and Prateek Boob to whole-time directors, with Pandey as CEO. The company also issued bonus shares (1:35 ratio) and became a public company.

PhysicsWallah has raised over $300 million and now plans to raise $500 million at a $5 billion valuation.

It has hired investment bankers and is set to be the first edtech unicorn to go public. Despite rising FY24 losses, it restructured its board, raised $210 million, and doubled its valuation to $2.8 billion.