• PhysicsWallah increases holding in Utkarsh Classes to 75.5 percent
• Third tranche completed with Rs 26.5 crore cash payment
• Plans to acquire remaining stake by March 2028

Edtech firm PhysicsWallah has boosted its ownership in subsidiary Utkarsh Classes & Edutech Private Limited to 75.5 percent after completing the third tranche of its multi-step acquisition plan. The company’s audit committee approved the purchase of 25,599 equity shares from existing shareholders, raising its holding from 63.25 percent.

The acquisition is part of a Share Acquisition Terms Agreement (SATA) signed in February 2023, under which PhysicsWallah aims to eventually acquire 100 percent of Utkarsh Classes. The third tranche involved a cash payment of Rs 26.5 crore, with shares acquired at a premium of Rs 10,342 each on a face value of Rs 10 per share.

Founded in November 2018, Utkarsh Classes runs coaching centers and provides educational content and course materials. The company reported revenues of Rs 168.96 crore in FY25, up from Rs 146.97 crore in FY24 and Rs 158.92 crore in FY23, reflecting steady growth in the education segment.

PhysicsWallah expects to complete the acquisition of the remaining stake by March 2028, further consolidating its strategic joint venture with Utkarsh Classes, which began in early 2023.

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The development comes shortly after PhysicsWallah’s public listing, which debuted at Rs 145 per share, a premium of around 33 percent over its IPO price. Through the public issue, the company raised approximately Rs 3,480 crore via a combination of fresh issue and offer for sale.

With this increased stake, PhysicsWallah strengthens its presence in the coaching and edtech segment, aligning its long-term vision of offering quality education across India.