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Physics Wallah bolsters its leadership team by appointing Ajinkya Jain as group general counsel ahead of its planned $400 Mn to $500 Mn IPO in 2025
The appointment comes after PW raised $210 Mn from Hornbill Capital at $2.8 Bn valuation, and recently onboarded former Blinkit executive Amit Sachdeva as CFO
Jain brings extensive experience in IPOs and M&As, having led Unicommerce’s IPO and played key roles in PharmEasy’s acquisitions of Medlife and Thyrocare
Edtech unicorn Physics Wallah (PW) has appointed Ajinkya Jain as group general counsel, company secretary and compliance officer to strengthen its leadership team ahead of its planned initial public offering (IPO).
The appointment comes as PW gears up for a potential $400 Mn to $500 Mn public listing in 2025. The company has already finalised Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan as bankers for the proposed IPO.
“Jain’s experience in legal and corporate governance will be invaluable as we expand and innovate in the education space,” PW CEO Alakh Pandey said.
Before joining PW, Jain led the IPO of Unicommerce eSolutions in August 2024 and served as key managerial personnel at AceVector (formerly Snapdeal). He played a crucial role in merger and acquisition activities at PharmEasy, including the Medlife and Thyrocare acquisitions.
The appointment follows PW’s recent $210 Mn funding round led by Hornbill Capital, which doubled its valuation to $2.8 Bn. The edtech unicorn has raised $310 Mn till date from investors including Lightspeed Ventures, WestBridge and GSV Ventures.
PW has been strengthening its leadership team, having recently appointed former Blinkit executive Amit Sachdeva as CFO in November 2024.
The company has also been expanding its operations. In December, it partnered with the Andhra government to establish a deeptech and AI-focused Institute of Eminence, with plans to invest nearly INR 1,000 Cr through GSV Ventures and other investors.
Founded in 2020 by Pandey and Prateek Maheshwari, PW offers education through online, offline and hybrid modes across 105 cities. The company provides free education to more than 46 Mn students through 112 YouTube channels in five vernacular languages.
However, PW reported a consolidated net loss of INR 1,131.2 Cr in FY24, up from INR 84.06 Cr in FY23. Its revenue from operations grew 2.6X year-on-year to INR 1,940.4 Cr during the same period.
The edtech unicorn recently launched PW School of Startups with an INR 100 Cr fund to back more than 100 startups. The initiative offers three programmes – Aarambh, Prarambh and Hopes Alive – tailored for different stages of entrepreneurial journeys.
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