India, Sept. 9 -- In the lead-up to its IPO, PhysicsWallah (PW) cofounders Alakh Pandey and Prateek Boob (also known as Prateek Maheshwari) lapped up INR 201.3 Cr apiece from secondary transactions.

The edtech major's updated draft red herring prospectus (UDRHP) revealed that both the cofounders sold 2.5 Lakh shares at INR 2,511 apiece to PW's existing investor GSV Ventures in September 2024, netting INR 62.8 Cr each. In the subsequent month, they sold 5.5 Lakh equity shares each at INR 2,517.4 apiece to VC firm Hornbill Ventures, raking in another INR 138.5 Cr each.

Despite the secondary sale, the cofounders cumulatively hold over 80% stake in PW pre-IPO. Pandey and Boob have 40.35% stake each in the company.

The third largest stakeho...