Copyright startuppedia
"Edtech unicorn PhysicsWallah co-founder Prateek Maheshwari said he did not feel the pressure with company valuation, as investors see growth potential more than the current position.Advertisment PhysicsWallah IPO The edtech unicorn has set a price band of Rs 103–109 a share for its initial public offering (IPO), boldly targeting a valuation of about Rs 31,500 crore at the upper end. The Rs 3,480-crore issue opens for subscription on November 11. In a recent interview with MoneyControl, the co-founder of the five-year-old education technology platform talked about the company"s valuation logic, investor expectations and why PhysicsWallah's listing “isn"t an exit, but an entry into the next phase of growth”. When asked about the company being India"s first major edtech IPO and one of the youngest startups going public, Maheshwari said the entire process started with founder Alakh Pandey insisting on the listing. “I asked if it was too early but our thesis was that we have built something beautiful – a well oiled machine,” said Maheshwari. “If we list, we will improve the governance, controls and the branding of the company. Our overall reach will improve.” Also read: Indian techie hands first salary to parents, teary-eyed mother says, 'That is a lot of money!' (startuppedia.in) More details about PhysicsWallah's listing Prateek Maheshwari claimed in the interview that his company"s revenue has grown nearly fourfold in two years. “We wanted to list while we"re still young and scaling fast, so incoming investors could also benefit,” he remarked. He said the IPO is significant for their brand message and vision, but post-listing, their priority will be to reach every child in India who needs affordable learning. “The bigger issue is the shortage of good teachers .. .that"s the problem we want to solve, whether it"s us or anyone else,” he told MC. Also read: Zomato Hyperpure leases 5.5 lakh sq ft of warehousing space in Thane for ₹1.7 Cr monthly rent (startuppedia.in) "
