Will raise more capital if an interesting acquisition comes up: Physics Wallah
₹2,000 crore revenue, it is still in search of newer growth areas. “Online will continue to drive our business as currently around 55% of the business still comes from selling online courses. We are also betting big on the physical centres and phygital is the way forward," Maheshwari said.
According to him, the company has opened 150 centres across 105 cities in the last 18 months. “We are opening one centre every five days. We are aggressively prioritising growth and cornering more market share," he added.
In June 2022, Physics Wallah raised $100 million from Westbridge Capital and GSV Ventures. While the funds hold 9% stake in the company, the founders together hold around 91% stake in the company that was last valued at $1.1 billion. Till now, the company has acquired six firms as part of its efforts to bulk up the topline.
The company is bullish about opening residential schools. “There is a huge gap that we have seen in our school education system and our model of residential schools aims to address it," Maheshwari said adding that the firm is also looking to tap into upskilling and the college education space to make India's youth job ready. “We have successfully started some of the new business lines for us, which will give us growth in FY28 or FY29," he said.
Maheshwari cofounded the company with Alakh Pandey in 2016. The company that was bootstrapped for the first eight years is preparing internally for a public listing over the next 24-36 months. “I feel IPO is a one time, irreversible, event in the life of a company and we are extra cautious about it.
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