PhysicsWallah eyes Rs 3,820 Cr through IPO, updates draft papers with SEBI

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…