IPO · Education & Skilling

PhysicsWallah files confidential IPO draft

By Startup Enthusiast · 16 April 2025

What they do

PhysicsWallah is an online platform preparing students for 35+ exam categories

It has chosen the confidential pre-filing route for its IPO, keeping the draft document private initially

Confidential filing allows the company to address regulator concerns before public disclosure

PhysicsWallah has chosen the confidential pre-filing route for its IPO.
This optional route was enabled by the market regulator in December 2022.
The draft document is not made public until the company decides to go live.
Confidential filing allows the company to engage with the regulator and address concerns before public disclosure.
The confidential filing is valid for 18 months from SEBI observations, compared to 12 months for a regular filing.
The process adds about 45 days to the IPO timeline.
The company must make a public announcement in three newspapers within two days of pre-filing, without providing issue details.

The confidential route gives PhysicsWallah more time to prepare its public filing.
It lets the company resolve regulatory queries privately before facing public scrutiny.
This approach is often chosen by companies that want to avoid early market speculation.

PhysicsWallah prepares students for 35+ exam categories including JEE, NEET, ESE, GATE, AE/JE, Olympiad, UPSC, State PSC, school boards, government exams, UG/PG entrance, finance courses, and study abroad.
The platform offers live classes, mock tests, video lectures, practice papers, doubt solving, and offline centres (Vidyapeeth and Pathshala) in 175+ cities.
It claims 10 Million+ tests, sample papers & notes, and 100+ offline centres.