PhysicsWallah files updated papers for IPO

BENGALURU: Edtech company PhysicsWallah filed an updated draft red herring prospectus (DRHP) with the market regulator Sebi for an initial public offering worth Rs 3,820 crore.

The issue comprises a fresh equity raise of Rs 3,100 crore and an offer for sale of Rs 720 crore by promoters Alakh Pandey and Prateek Maheshwari (listed as Prateek Boob in official filings), who will each sell shares worth up to Rs 360 crore. The equity shares are proposed to be listed on both BSE and NSE. Kotak Mahindra Capital, JP Morgan India, Goldman Sachs India, and Axis Capital are book-running lead managers, while MUFG Intime India is registrar. tnn