Physics Wallah, an Indian edtech company, has transitioned to a public company as it prepares for its IPO in 2025.

The company’s board has approved name change from Physics Wallah Private Limited to Physics Wallah Limited.

The IPO, valued between US$400 million and US$500 million, will be managed by Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan.

Founded in 2020, Physics Wallah offers education across 105 cities in India.

In September 2024, it raised US$210 million in Series B funding, bringing its valuation to US$2.8 billion, though it reported a net loss of INR 1,131.2 crore rupees (US$136.1 million) for FY2024.