Think Investments Infuses INR 136 Cr in PhysicsWallah Ahead of IPO According to a public filing, Think Investments acquired 1.07 crore equity shares from 14 employees of PhysicsWallah for INR 127 per share.
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Global investment firm Think Investments has invested INR 136 crore in edtech unicorn PhysicsWallah as part of a pre-IPO funding round.
The investment comes as the company prepares for its initial public offering (IPO) scheduled to open on November 11.
According to a public filing, Think Investments acquired 1.07 crore equity shares from 14 employees of PhysicsWallah for INR 127 per share. This price is 17 per cent higher than the upper end of the IPO price band, translating into a total transaction value of INR 136.17 crore. The deal gives Think Investments a 0.37 per cent stake in the company.
The share transfer took place on November 4 following a share purchase agreement signed a day earlier. The transaction was carried out through Think India Opportunities Master Fund LP, a fund managed by the investment firm.
Think Investments, which manages assets worth around USD 4 billion, focuses on technology-driven and growth-oriented companies. In India, the firm claims to have invested in several leading startups including Swiggy, FirstCry, Urban Company, PharmEasy, Spinny, Meesho, and Dream11.
PhysicsWallah, founded by Alakh Pandey and Prateek Maheshwari, is preparing for an INR 3,480 crore IPO. The price band has been set between INR 103 and INR 109 per share, valuing the company at over INR 31,500 crore at the upper end. The issue includes a fresh issue of INR 3,100 crore and an offer-for-sale of INR 380 crore by the co-founders.
After the IPO, the promoters' combined shareholding will come down from 80.62 percent to 72 percent. None of the early investors will be selling their stakes in this offering.
The IPO will close on November 13, with anchor investor allocation scheduled for November 10.
