NEW DELHI: Global investment firm Think Investments has injected over ₹136 crore into edtech unicorn PhysicsWallah through a pre-IPO funding round, just days before the company's highly anticipated initial public offering next week.
The transaction saw Think Investments acquire 1.07 crore equity shares from 14 employees of the edtech firm, representing a 0.37 percent stake in the company. The shares were purchased at ₹127 apiece, marking a 17 percent premium over the IPO issue price and valuing the total deal at ₹136.17 crore.
According to a public announcement by PhysicsWallah, the share transfer was completed on November 4, following a share purchase agreement dated November 3, 2025, along with an amendment letter executed the same day.
The investment comes at a crucial juncture as PhysicsWallah prepares to launch its ₹3,480 crore IPO on November 11. The company has set a price band of ₹103-109 per share, targeting a valuation exceeding ₹31,500 crore at the upper end. The public offering comprises a fresh issue worth ₹3,100 crore and an offer-for-sale of ₹380 crore by co-founders and promoters Alakh Pandey and Prateek Boob.
Currently holding 80.62 percent of the company, the promoters' stake will be diluted to 72 percent post-IPO. Notably, none of the early investors will be selling their holdings in this offering. The issue is scheduled to close on November 13, with anchor investor allocation set for November 10.
Think Investments, a $4 billion global investment firm specializing in technology-driven early-stage businesses, has built a substantial portfolio in India. The firm's investments span prominent companies including Swiggy, FirstCry, Urban Company, PharmEasy, Spinny, NSE, Star Health, Meesho, Rapido, and Dream11.
The proceeds from the IPO will be deployed toward funding the company's expansion plans and growth initiatives, as PhysicsWallah continues its journey in India's competitive edtech sector.
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