Global investment firm Think Investments has infused Rs 136 crore into PhysicsWallah (PW) through a secondary equity deal, underscoring strong investor confidence in the edtech company ahead of its upcoming public listing.
The deal was done at Rs 127 per share, 17% above the IPO ceiling of Rs 109.
According to a PTI report, Think Investments acquired 1.07 crore shares in the deal, representing a 0.37% stake in the company. Notably, none of the founders participated in the secondary sale, a testament to their continued belief in PW’s growth trajectory and long-term vision.
Between January and July 2025, PhysicsWallah also saw increased investor activity through a series of ESOP liquidations facilitated by Funds India (a subsidiary of WestBridge) at prices ranging from Rs 127 to Rs 137 per share. Several family offices participated in these tranches, collectively investing around Rs 100 crore, further reflecting the steady investor appetite for the edtech major.
PhysicsWallah is set to launch a Rs 3,480 crore IPO on November 11, which includes a fresh issue of Rs 3,100 crore and an offer for sale (OFS) of Rs 380 crore by co-founders Allah Pandey and Pratik Bub. The issue price is in the range of Rs 103-109 per share, valuing the company at over Rs 31,500 crore at the upper end.
After the listing, the promoter’s stake will come down from 80.62% to around 72%, while the early investors will retain their stakes. The anchor placement is scheduled for November 10, and the close of release is scheduled for November 13.
The proceeds from the IPO will be used to fund expansion and growth initiatives, marking another major milestone in PW’s journey from a YouTube-based learning platform to one of India’s most valuable edtech startups.
