Physicswallah raises stake in Utkarsh Classes to 75.50 percent via third tranche
PWL · price
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Physicswallah approved the third tranche of its acquisition of subsidiary Utkarsh Classes, buying 25,599 equity shares for about INR 26.5 crore in cash. This lifts its stake from 63.25 percent to 75.50 percent. Utkarsh, an education coaching and content firm with FY25 turnover near INR 1,690 million, was first acquired in 2023 via a multi-tranche deal disclosed in the November 2025 IPO prospectus. Physicswallah aims to reach 100 percent ownership by March 2028. The deal is a related party transaction done at arm's length, funded from IPO proceeds.
Gradual buyout of an existing profitable edtech subsidiary using IPO cash. Mildly positive for shareholders as it consolidates earnings.