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PhysicsWallah raises stake in Utkarsh Classes to 75.5%

EntrackrEntrackr · 5h ago
PhysicsWallah raises stake in Utkarsh Classes to 75.5%
Medial

PhysicsWallah raises stake in Utkarsh Classes to 75.5% In a regulatory disclosure on Monday, PhysicsWallah said its audit committee cleared the acquisition of 25,599 equity shares from existing shareholders. Edtech firm PhysicsWallah has approved the third tranche of its investment in subsidiary Utkarsh Classes & Edutech Private Limited, taking its stake to 75.50%. The transaction will raise PhysicsWallah’s holding from 63.25% to 75.50%. The two firms have been operating under a long-term strategic joint venture since early 2023. The acquisition is part of a multi-tranche Share Acquisition Terms Agreement (SATA) signed in February 2023, under which PhysicsWallah plans to acquire up to 100% ownership in Utkarsh Classes. The third tranche will be completed through a cash payment of Rs 26.50 crore. This includes the purchase of shares with a face value of Rs 10 each, acquired at a premium of Rs 10,342 per share. Founded in November 2018, Utkarsh Classes operates in the education segment, running coaching centres and offering educational content and course materials. The company reported a turnover of Rs 168.96 crore in FY25, Rs 146.97 crore in FY24, and Rs 158.92 crore in FY23. PhysicsWallah expects to complete the acquisition of the remaining stake by March 2028. The development comes soon after PhysicsWallah public listing. The firm listed at Rs 145 on the stock exchanges, a premium of around 33% over the IPO price. The company raised about Rs 3,480 crore through the public issue, which included a fresh issue and an offer for sale.

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Exclusive: PhysicsWallah acquires minority stake in Sarrthi IAS

EntrackrEntrackr · 3m ago
Exclusive: PhysicsWallah acquires minority stake in Sarrthi IAS
Medial

Exclusive: PhysicsWallah acquires minority stake in Sarrthi IAS Edtech Unicorn PhysicsWallah has acquired a minority stake in UPSC coaching institute Sarrthi IAS, according to three sources aware of the development. “PW has picked up 40% in the company at a valuation of about Rs 250 crore. Sarrthi will continue to operate independently while leveraging on PhysicsWallah’s tech infra,” said one of the sources, requesting anonymity. Founded by Varun Jain and Dr. Shivin Chaudhry, Sarrthi IAS provides mentorship-focused courses for UPSC preparation. The platform offers GS Foundation, Mains modules, Prelims revision, and interview guidance. The deal marks a consolidation move in the UPSC prep market, where PhysicsWallah has been scaling through its vertical PWOnlyIAS. “After this deal, the combined UPSC vertical including PWOnlyIAS and Sarrthi IAS is expected to cross Rs 350 crore in revenue in FY26,” according to the source quoted above. For PhysicsWallah, the investment strengthens its positioning in the civil services test-prep segment UPSC and all state public service commission exams, and adds heft to its offline presence. PW had earlier explored larger acquisitions, including Drishti IAS, but talks did not materialise. Entrackr has reached out to PhysicsWallah and Sarrthi IAS for comments on the story. We will update the story in case they respond. The stake purchase comes as PhysicsWallah gears up for its IPO. The company received SEBI’s nod to file its Draft Red Herring Prospectus (DRHP) and is planning to raise around Rs 4,500 crore through the IPO. On the revenue front, the Alakh Pandey-led firm reported a 55% year-on-year jump to around Rs 3,000 crore in FY25, while losses narrowed by nearly 80% during the same period. Entrackr had exclusively reported these numbers last month.

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