India, Feb. 19 -- Bidding to become the second listed edtech startup in India, after PhysicsWallah, LetsVenture-backed Klassroom has filed its DRHP with the BSE for an SME IPO.

The startup's public issue will comprise a fresh issue of up to 19.89 Lakh equity shares and an offer-for-sale (OFS) component of up to 4.66 Lakh equity shares.

The Mumbai-based startup plans to utilise the net proceeds from the fresh issue to repay or prepay certain borrowings, strengthen its AI/ML tech stack and content development and marketing initiatives.

The startup's cofounders - mother-and-sons trio Alka, Dhruv, and Dhumil Javeri - plan to offload the highest number of shares via the OFS. They will sell up to 3.52 Lakh shares.

Besides, angel investors l...