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Edtech unicorn PhysicsWallah has received the Securities and Exchange Board of India’s (Sebi) nod for its initial public offering (IPO), according to a notification on the markets regulator’s website.
The WestBridge Capital-backed startup, which also counts Lightspeed and GSV Ventures among its investors, had filed its IPO papers with Sebi on March 19 under the pre-filing route, allowing it to submit a confidential prospectus. It plans to raise Rs 4,000 crore in fresh capital at a proposed valuation of Rs 35,000–40,000 crore.
The approval was…
