Global investment firm Think Investments has invested over ₹136 crore in edtech unicorn PhysicsWallah as part of a pre-IPO funding round, ahead of the company’s initial public offering (IPO) scheduled for next week.
According to the transaction details, Think Investments acquired 1.07 crore equity shares, representing a 0.37% stake in PhysicsWallah, from 14 employees. The shares were purchased at ₹127 each — a 17% premium to the IPO price — taking the total deal value to ₹136.17 crore. PhysicsWallah confirmed that the transfer took place on November 4 under a share purchase agreement dated November 3, 2025.
Think Investments, which manages assets worth $4 billion globally, has backed several leading Indian startups, including Swiggy, FirstCry, Urban Company, PharmEasy, Meesho, and Dream11. Between January and July 2025, PhysicsWallah attracted strong investor interest through ESOP liquidations at ₹127–₹137 per share, raising ₹76 crore from multiple family offices.
The company’s ₹3,480 crore IPO will open on November 11 with a price band of ₹103–₹109 per share, valuing it at over ₹31,500 crore. The issue comprises a ₹3,100 crore fresh issue and a ₹380 crore OFS by co-founders Alakh Pandey and Prateek Boob, whose collective stake will fall from 80.62% to 72% post-listing.
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