The Alakh Pandey-led Edtech major PhysicsWallah has filed updated draft papers with the Securities and Exchange Board of India (SEBI) to raise Rs 3,820 crore through an initial public offering (IPO).
In the last funding round in February, the company was valued a $3.7 billion and is expected to list the company at a staggering $5 billion valuation. Alakh Pandey, who holds a 40.35 per cent stake in the company, is offloading shares worth Rs 360 crore in the IPO.
Here is a look at Alakh Pandey’s PhysicsWallah journey and the growth of the edtech unicorn.
The PhysicsWallah chapter
Just like many other famous startups, PhysicsWallah started after Pandey dropped out of the engineering course and decided to carve out a path for himself as an alternative educator.
Pandey, passionate about physics and teaching, decided to launch a YouTube channel named PhysicsWallah in 2016, aimed at making physics simple and accessible for students.
In 2020, Pandey launched the PhysicsWallah app and started charging a modest Rs 5,000 tuition fee. Gradually, the app started getting traction among the students, and the revenue and profit started to rise. In 2021, the company generated a profit of Rs 9.4 crore, which increased to Rs 133.7 crore in 2022. In June 2022, Physics Wallah had raised $101 million in its series A funding round and became a unicorn startup and a known name in the edtech space.
In 2023, the profit reduced marginally to Rs 108 crore.
Alakh Pandey’s net worth
As valuations of PhysicsWallah increased, the founder Pandey’s net worth also headed north.
According to Hurun, Alakh Pandey’s estimated net worth amounted to $540 million or Rs 4,500 crore in 2024. Hurun’s study indicated that Pandey earned about Rs 150 -200 crore annually from his hefty share in the company.
All eyes are now on the IPO timeline and the price band it is likely to offer.