India, Sept. 11 -- PhysicsWallah (PW) has refiled its draft IPO papers with the market regulator SEBI, setting the stage for a massive INR 3,820 Cr public listing. With this move, the unicorn is also positioning itself as the first Indian edtech startup ever to list on the Indian bourses.

While BYJU'S was once the flag bearer of the Indian edtech sector, with its plans to list via the special purpose acquisition company (SPAC) route, everyone knows how that went. The Indian decacorn's lax governance guardrails, knee-deep debt crisis, and all the drama that comes with it is to be blamed.

Unacademy, another edtech beacon that could have borne the Indian edtech flag on the Indian exchanges, is also struggling on multiple fronts - profitabi...