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Noida-based edtech unicorn PhysicsWallah has filed updated draft papers with the markets regulator Securities and Exchange Board of India (SEBI) through an initial public offering (IPO) for expansion and growth initiatives.

The proposed IPO comprises a fresh issue of equity shares worth Rs 3,100 crore and an offer for sale (OFS) of shares aggregating up to Rs 720 crore by promoters, according to the updated draft red herring prospectus (UDRHP) filed on Saturday, September 6.

Both promoters, Alakh Pandey…

From YouTube lessons to a Rs 3,000-crore revenue enterprise headed for an initial public offering (IPO), PhysicsWallah (PW) has joined the small group of Indian edtech firms that have reached this scale, driven by both its online engine and a fast expansion of offline and hybrid centres.

PW has filed an updated draft red herring prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for an IPO worth Rs 3,820 crore.

In fiscal year 2025, the company reported operating revenue of Rs 2,886.6…