An MoU has been signed between the Delhi government and Physics Wallah to offer free crash courses for CUET and NEET preparation to students who have completed their 12th grade, news agency IANS reported.
Chief Minister Rekha Gupta explained that this initiative will provide one month of free online coaching to 163,000 students in Delhi government schools. The goal is to help them gain admission to medical colleges and central universities.
This collaboration is designed to offer quality education and improve the future prospects of these students. “The MoU was officially signed today, marking a significant step in Delhi Government’s commitment to education,” Gupta said.
A week ago, edtech company Physics Wallah had quietly filed for an initial public offering (IPO) that could raise up to $500 million, according to a report by IFR.
Back in October 2024, the company had mentioned that it might launch an IPO worth $400-500 million in 2025. If the IPO happens, Physics Wallah will be the first edtech company to list on the Indian stock exchanges.
The company is working with Axis Capital, Goldman Sachs, JP Morgan, and Kotak Mahindra to manage the IPO, which will involve both issuing new shares and selling shares from existing investors.
In September 2024, Physics Wallah raised $210 million, bringing its value to $2.8 billion. It has since raised another $25 million in a secondary funding round, pushing its value up to $3.7 billion. So far, the company has raised over $300 million in total.