
Physics Wallah (PW), a prominent Indian edtech unicorn, has appointed Ajinkya Jain as its Group General Counsel, Company Secretary, and Compliance Officer. This strategic hire comes as PW prepares for a potential $400 million to $500 million initial public offering (IPO) in 2025.
Ajinkya Jain, an alumnus of the Central India College of Law, Nagpur, and a member of the Institute of Company Secretaries of India (ICSI), brings extensive experience in legal affairs, corporate governance, and compliance. His expertise is expected to be instrumental as PW navigates its expansion and innovation in the education sector.
Alakh Pandey, CEO and Founder of Physics Wallah, said, “Ajinkya’s experience in legal and corporate governance will be invaluable as we expand and innovate in the education space.”
A Proven Track Record in IPOs and M&As
Before joining PW, Jain led the IPO of Unicommerce eSolutions Ltd in August 2024 and served as Associate Director – Group Company Secretary at AceVector Limited (Formerly Snapdeal Limited). He played key roles in significant merger and acquisition activities at PharmEasy, including the acquisitions of Medlife and Thyrocare, and the filing of the Draft Red Herring Prospectus (DRHP) for PharmEasy.
His appointment follows PW’s recent $210 million funding round led by Hornbill Capital, doubling its valuation to $2.8 billion. The company has raised a total of $310 million to date from investors including Lightspeed Ventures, WestBridge, and GSV Ventures.
In preparation for its anticipated IPO, PW has reportedly finalised Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan as bankers for the proposed public listing.
Additionally, PW has been expanding its leadership team, recently appointing former Blinkit executive Amit Sachdeva as Chief Financial Officer in November 2024.
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About Physics Wallah
Founded in 2020 by Alakh Pandey and Prateek Maheshwari, Physics Wallah offers education through online, offline, and hybrid modes across 105 cities in India. The platform provides free education to more than 46 million students through 112 YouTube channels in five vernacular languages.
Despite its rapid growth, PW reported a consolidated net loss of INR 1,131.2 crore in FY24, up from INR 84.06 crore in FY23. However, its revenue from operations grew 2.6 times year-on-year to INR 1,940.4 crore during the same period, indicating significant expansion and investment in its services.
The appointment of Ajinkya Jain is seen as a strategic move to bolster PW’s legal and compliance framework, ensuring robust governance as the company prepares for its next phase of growth and its forthcoming public offering.
