Physicswallah files updated DRHP for Rs 3,820 Cr IPO

Edtech unicorn PhysicsWallah has filed draft papers with the Securities and Exchange Board of India (SEBI) to raise Rs 3,820 crore through initial public offer.

The IPO will comprise a fresh issue of equity shares worth Rs 3,100 crore and an offer for sale (OFS) of Rs 720 crore by PhysicsWallah’s co-founders, Alakh Pandey and Prateek Boob, who will each offload shares worth Rs 360 crore.

This development comes shortly after the Noida-based edtech firm received SEBI’s approval for its confidential IPO papers last month.

The IPO will be managed by…