PhysicsWallah Gets SEBI Nod For IPO

Edtech major PhysicsWallah (PW) has received markets regulator SEBI’s approval for its IPO within four months of filing its draft red herring prospectus (DRHP) via the confidential pre-filing route.

As per the latest update on SEBI’s website, the regulator issued observations to the edtech company on July 18.

In SEBI’s parlance, issuance of observations refers to approval to go ahead with the proposed IPO.

Notably, the company’s DRHP is not yet available publicly. Earlier, reports said that the IPO size is expected to be around INR 4,600 Cr ($531 Mn). A big component of the public issue is likely to be an offer for sale (OFS). Further, the IPO is expected to value the company at $3.7 Bn.

Inc42 has reached out to the company to get a timeline for its proposed public offering.

(The story would be updated shortly.)

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