PhysicsWallah In Talks To Acquire Drishti IAS For Rs 2,500 Cr

Edtech unicorn PhysicsWallah is in advanced talks about acquiring offline coaching firm Drishti IAS Institute.

“PhysicsWallah is spending around Rs 2,500–3,000 crore to acquire the UPSC and state commissions preparatory platform,” said an anonymous source. “The two companies have been in talks since January this year, and the deal is likely to be finalized soon.” [Source: Entrackr]

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PhysicsWallah prepares for IPO

Incidentally, Noida-based MNC Edtech PhysicsWallah is preparing for its initial public offering (IPO). The company has appointed three independent directors to raise $500 million through the public listing at a valuation of $5 billion.

However, Vivek Tiwari, CEO, Drishti IAS, said: “Although we have been meeting several people from different organisations (IPO Bankers, PEs & Edtech founders) for our future plans, nothing has been finalized so far. The information you are talking about is just a rumour which shouldn't be taken seriously at all.”

Founded in 2016 by Alakh Pandey as a YouTube channel, Physics Wallah has expanded into a full-fledged online edtech platform offering live and recorded lectures, test series, study materials, and offline hybrid centers.

The edtech startup has raised over $300 million to date, valuing around $2.8 billion during a $210 million Series B round in September last year.

PhysicsWallah’s revenue from operations rose to Rs 1,940.4 crore in FY24, compared to Rs 744.3 crore in FY23.

However, following the rising expenditure, its losses deepened 13X to Rs 1,131 crore in FY24 against Rs 84 crore as reported in FY23.

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