🔹Summary:
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PhysicsWallah is reportedly in advanced talks to acquire Drishti IAS for ₹2,500–3,000 crore
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The acquisition may be structured in performance-based tranches
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If successful, it will be one of the largest deals in India’s edtech space
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Drishti IAS posted ₹405 crore revenue and ₹90 crore profit in FY24
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PhysicsWallah aims for ₹1,000 crore offline revenue by FY25
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The company is also preparing for a $500 million IPO at a $5 billion valuation
A Potential Game-Changer in India’s Edtech Ecosystem
Noida-based edtech unicorn PhysicsWallah, founded by Alakh Pandey, is reportedly in advanced stages of acquiring Drishti IAS, the prominent UPSC coaching institute led by Vikas Divyakirti, according to an Entrackr report. The estimated deal size of ₹2,500–3,000 crore positions it among the most significant acquisitions in the Indian education technology sector to date.
The acquisition, if finalized, would mark a strategic shift for PhysicsWallah, expanding its footprint beyond NEET and JEE coaching into the highly competitive UPSC and state services exam segment.
Strategic Timing Amid IPO Plans
This development comes at a time when PhysicsWallah is preparing for an initial public offering (IPO). The unicorn recently added three independent directors to its board and is targeting a $500 million raise at a $5 billion valuation through the IPO.
By acquiring Drishti IAS, PhysicsWallah aims to diversify its product portfolio and further strengthen its offline presence, with plans to generate ₹1,000 crore in offline revenue by FY25.
Drishti IAS: A Civil Services Powerhouse
Founded over 26 years ago by Dr. Vikas Divyakirti, Drishti IAS has become one of the most respected names in civil services exam preparation. In FY24, the institute posted an impressive ₹405 crore in revenue and ₹90 crore in profit.
Its flagship Mukherjee Nagar centre in Delhi alone accounted for 58% of its revenue, followed by coaching centres in Prayagraj, Jaipur, and Karol Bagh. The institute has earned a loyal following, especially for its Hindi-medium programs and deep-rooted offline ecosystem.
However, Drishti IAS CEO Vivek Tiwari has denied the acquisition rumours, calling them “a rumour that shouldn’t be taken seriously.”
PhysicsWallah: From YouTube to Unicorn
PhysicsWallah began as a YouTube channel and quickly transformed into one of India’s most influential edtech brands. The company has raised over $300 million, with its last known valuation touching $2.8 billion after a $210 million Series B round in September last year.
Its revenue from operations grew nearly 2.5x to ₹1,940 crore in FY24, up from ₹744 crore in FY23. However, this growth came at a cost—net losses surged 13 times to ₹1,131 crore due to rising investments in technology, offline centers, and marketing initiatives.
A Broader Vision for Hybrid Education
For PhysicsWallah, acquiring Drishti IAS aligns with its hybrid education strategy. By leveraging Drishti’s strong offline brand and expertise in UPSC coaching, the edtech company could gain a significant competitive edge in the civil services segment.
The deal, if it materializes, will also send a strong message to investors ahead of PhysicsWallah’s IPO, showcasing its ambition to become a pan-India education powerhouse—both online and offline.
What’s Next?
With Alakh Pandey’s PhysicsWallah eyeing Drishti IAS and gearing up for a blockbuster IPO, the Indian edtech sector may be on the brink of a new consolidation wave. For aspirants and stakeholders alike, this could redefine the way competitive exam preparation is delivered across the country.