Physics Wallah, an Indian edtech company, has received approval from SEBI for its draft IPO proposal, submitted under the confidential route in March 2025.

The company plans to raise around 4,600 crore rupee (US$533 million) through a mix of new shares and an offer for sale.

This marks a key step as the Noida-based firm prepares to enter the public market.

Valued at US$2.8 billion, Physics Wallah is backed by investors including Lightspeed, WestBridge, Hornbill Capital, and GSV Ventures.

In FY 2024, the company reported revenue of 1,940.4 crore rupee (US$224.3 million) and a loss of 375 crore rupee (US$43.4 million).