PhysicsWallah Shortlists Banks for $400-$500M IPO in 2025

• Ed-tech unicorn PhysicsWallah has shortlisted Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan as advisors for its planned IPO in 2025.
• The company, valued at $2.8bn after a recent fund raise, aims to raise between $400m-$500m through the IPO.
• The deal is expected to be a mix of primary and secondary issue of shares, providing growth capital and exit windows for investors.
• There's industry buzz about a targeted valuation of $4bn-$5bn.
• If successful, PhysicsWallah could become India's first ed tech firm to debut on domestic bourses.

Source: Moneycontrol