PhysicsWallah sees ₹550 crore stake sale as Lightspeed exits

Lightspeed Venture Partners has completely exited its investment in edtech company PhysicsWallah through a block and bulk share sale. Via its holding entity, Lightspeed Opportunity Fund II, the firm sold 4.67 crore shares, generating approximately ₹549.7 crore. The shares were sold at a weighted average price of ₹117.72, representing a 6.7% discount to the stock’s closing price.

Major buyers in the transaction included ICICI Prudential Mutual Fund, which acquired 2.2 crore shares, and Goldman Sachs, which purchased 89 lakh shares. Other participants included Ghisallo Master Fund, Societe Generale, and Morgan Stanley Asia.

In its recent financial reporting, PhysicsWallah noted that its consolidated net loss narrowed to ₹77.6 crore from ₹120.5 crore in the previous year, while revenue grew to ₹1,054 crore from ₹847.1 crore. The company also recently approved the acquisition of an additional 11% stake in Guiding Light Education Technologies Pvt Ltd, which operates the Sarrthi IAS brand, for ₹71.81 crore.