Global investment firm acquires 0.37% stake from employees at 17% premium to issue price
New Delhi, November 8, 2025 – Global investment firm Think Investments has infused ₹136.17 crore into edtech unicorn PhysicsWallah through a pre-IPO funding round, acquiring shares at a significant premium just days before the company's public market debut.
The transaction, completed on November 4, saw Think Investments purchase 1.07 crore equity shares from 14 employees of the Noida-based edtech firm, securing a 0.37 percent stake. The shares were acquired at ₹127 per piece, representing a 17 percent premium over the IPO issue price.
According to a public announcement by PhysicsWallah, the share purchase agreement was executed on November 3, with an amendment letter dated the same day facilitating the transfer of shares from company employees to Think India Opportunities Master Fund LP.
The investment comes at a crucial juncture as PhysicsWallah prepares to launch its ₹3,480 crore initial public offering next week. The IPO, scheduled to open on November 11 and close on November 13, has been priced in the ₹103-109 per share band, targeting a valuation exceeding ₹31,500 crore at the upper end.
The public offering comprises a fresh issue of ₹3,100 crore and an offer-for-sale of ₹380 crore by co-founders and promoters Alakh Pandey and Prateek Boob. Post-IPO, the promoters' combined stake will decrease from the current 80.62 percent to 72 percent. Notably, none of the early investors will be selling their stakes in this offering.
Think Investments, a $4 billion global investment firm, specializes in backing technology-driven early-stage businesses. The firm has established a robust presence in India's startup ecosystem, with investments spanning multiple sectors. Its diverse portfolio includes prominent names such as Swiggy, FirstCry, Urban Company, PharmEasy, Spinny, Meesho, Rapido, Dream11, and Star Health, among others.
The proceeds from PhysicsWallah's IPO will be deployed to fund the company's expansion plans and growth initiatives. Anchor investor allocation for the offering is scheduled for November 10, ahead of the public subscription period.
PhysicsWallah, which has emerged as one of India's leading edtech platforms, has garnered significant attention for its affordable and accessible learning solutions, particularly in the competitive examination preparation segment.
The pre-IPO investment by Think Investments at a premium to the issue price signals strong investor confidence in PhysicsWallah's business model and growth prospects as the company transitions to becoming a publicly listed entity.
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