Think Investments has invested ₹136 crore in PhysicsWallah (PW) through a secondary share transaction, highlighting strong investor confidence in the edtech unicorn ahead of its highly anticipated initial public offering (IPO).
The transaction was executed at ₹127 per share, representing a 17% premium over the IPO’s upper price band of ₹109. As per a PTI report, Think Investments acquired 1.07 crore shares, equating to a 0.37% stake in the company. Significantly, none of the founders divested their holdings, reinforcing their commitment to PW’s long-term vision and growth journey.
Earlier this year, between January and July 2025, PW had witnessed a surge in investor interest through multiple ESOP liquidations managed by Funds India, a subsidiary of WestBridge Capital. These shares were traded at prices ranging between ₹127 and ₹137, with several family offices participating in the rounds — collectively infusing around ₹100 crore.
PhysicsWallah is now gearing up for its ₹3,480 crore IPO, opening on November 11. The offering comprises a fresh issue of ₹3,100 crore and an offer-for-sale (OFS) of ₹380 crore by co-founders Alakh Pandey and Prateek Boob. Priced between ₹103 and ₹109 per share, the issue values the company at over ₹31,500 crore at the upper end of the band.
Post-listing, promoter shareholding is expected to decline from 80.62% to around 72%, while early investors will maintain their positions. The anchor book opens on November 10, and the public issue will close on November 13.
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Funds raised through the IPO will be directed towards expansion and strategic growth initiatives, marking yet another significant milestone in PhysicsWallah’s evolution, from a YouTube-based learning platform to one of India’s most valued edtech enterprises.
