Stake sale · Education & Skilling

Lightspeed Venture Partners exits PhysicsWallah via block deal

By Startup Enthusiast · 26 August 2026

What they do

PhysicsWallah provides online and offline coaching for competitive exams like JEE, NEET, and various government job entrance tests across India

Lightspeed Venture Partners sold its entire 1.61% stake in the company for ₹550 crore through a block deal on the NSE

The stake sale follows the company's recent financial improvement, which included a narrowed net loss and positive EBITDA for the June quarter

Venture capital firm Lightspeed Venture Partners exited its entire stake in PhysicsWallah through a block deal (a large-scale transaction executed outside the open market).
The firm sold 4.67 crore shares, representing a 1.61% stake, at an average price of ₹117.72 per share.
The total value of the transaction was approximately ₹550 crore.
ICICI Prudential Mutual Fund emerged as the largest buyer in the deal, acquiring a 0.76% stake for ₹259 crore.
Other institutional participants included Goldman Sachs, Tata AIA Life Insurance, Morgan Stanley, and Societe Generale.
The transaction occurred on the National Stock Exchange (NSE).

Lightspeed Venture Partners had initially invested in PhysicsWallah in October 2024.
The exit provided the investor with a return on its investment of nearly two years.
PhysicsWallah recently reported a 24.4% year-on-year revenue increase to ₹1,054 crore for the June quarter.
The company's consolidated net loss narrowed to ₹77.57 crore from ₹120.45 crore in the same period last year.

PhysicsWallah is an Indian edtech platform offering educational resources for students from Class 6 to postgraduate levels.
It provides coaching for competitive exams including IIT JEE, NEET, UPSC, GATE, and various state-level government exams.
The company operates through a hybrid model, combining online courses with offline centres known as Vidyapeeth and Pathshala.
It offers additional services such as PW Skills for professional upskilling, PW Books, and study abroad assistance.
The platform claims to reach students in 98% of India's pin codes with over 10 million paid users.
Revenue is generated through course fees, test series, and the sale of educational materials and merchandise.