New Delhi, Sept. 8 -- Edtech firm PhysicsWallah Ltd filed updated draft Herring Red Prospects (DRHP) papers with SEBI for raising an initial public offering (IPO) of Rs 3820 cr.
A 'Draft Red Herring Prospectus (DRHP)' is a preliminary document that a company files with SEBI when planning for an IPO to raise capital from the public.
This IPO raising consists of a mix of fresh issue of Rs 3100 cr and an offer for sale (OFS) by its co-founders Alakh Pandey and Prateek Maheshwari, each of Rs 360 cr, totaling Rs 720 cr.
Edtech company Physicswallah is also backed by WestBridge, GSV and Lightspeed.
The company wants to allocate the new capital raising in different areas, including marketing initiatives (Rs 710cr), lease payments of existing i...