Edtech unicorn PhysicsWallah receives SEBI nod for IPO

Edtech unicorn PhysicsWallah has received approval from the Securities and Exchange Board of India (SEBI) for its pre-IPO draft filing, clearing a major regulatory hurdle on its path to public markets.

The Noida-based company submitted its draft under SEBI’s confidential route in March this year. With this approval, PhysicsWallah is set to raise around Rs 4,600 crore (about $533 million) through a mix of fresh issuance and an…