Physics Wallah Bolsters Leadership with Ajinkya Jain as Group General Counsel
Portfolio - People | Jan 13, 2025 | EIN
Physics Wallah, an edtech unicorn valued at $2.8 billion, has appointed Ajinkya Jain as its group general counsel and company secretary. This strategic move is part of the company's preparation for a significant IPO planned for 2025, valued between $400 million and $500 million. The company recently completed a $210 million funding round led by Hornbill Capital. Ajinkya Jain brings a wealth of expertise in IPOs and mergers and acquisitions, bolstering Physics Wallah’s leadership capability. Previously serving at Unicommerce and playing crucial roles in major M&A activities at PharmEasy, Jain is expected to reinforce Physics Wallah’s corporate governance and compliance. Additionally, this comes after Physics Wallah appointed Amit Sachdeva as CFO and partnered with local government to expand their educational reach. Despite reporting a net loss in FY24, the company increased its operational revenue significantly, demonstrating its growth trajectory and commitment to innovation in the education sector.
Sectors
- Education Technology (Edtech)
- Legal and Corporate Services
- Finance and Investment
Geography
- India – Physics Wallah is based in India, a rapidly growing market for edtech solutions, with recent strategic partnerships and expansions occurring within the country.
Industry
- Education Technology (Edtech) – The article focuses on Physics Wallah, a company operating within the edtech sector, which involves providing educational content and services through digital and hybrid platforms.
- Legal and Corporate Services – Ajinkya Jain's appointment as general counsel highlights the importance of legal and corporate governance, especially with their upcoming IPO and past involvement in M&A activities.
- Finance and Investment – The upcoming IPO and significant funding rounds from firms like Hornbill Capital underline the strong involvement of financial services in Physics Wallah's growth strategy.
Financials
- $210 million – Amount raised by Physics Wallah in a funding round led by Hornbill Capital.
- $400 million to $500 million – Expected valuation for Physics Wallah’s planned IPO in 2025.
- $2.8 billion – Current valuation of Physics Wallah after the latest funding round.
- INR 1,940.4 crore – Revenue from operations for Physics Wallah in FY24.
- INR 1,131.2 crore – Consolidated net loss reported by Physics Wallah in FY24.
Participants
| Name | Role | Type | Description |
|---|---|---|---|
| Physics Wallah (PW) | Target Company | Company | An edtech unicorn in India, planning for a significant IPO and expanding its operations and leadership team. |
| Ajinkya Jain | Group General Counsel | People | Recently appointed as the general counsel and company secretary for Physics Wallah, bringing extensive legal and corporate governance experience. |
| Hornbill Capital | Investor | Company | Led a $210 million funding round that doubled Physics Wallah’s valuation to $2.8 billion. |
| Amit Sachdeva | Chief Financial Officer (CFO) | People | Recently appointed CFO of Physics Wallah, contributing to its financial strategy and planning. |
| Axis Capital, Kotak Mahindra Capital, Goldman Sachs, JP Morgan | Bankers for IPO | Company | Financial institutions finalized by Physics Wallah for their planned IPO in 2025. |
| Alakh Pandey | Co-Founder and CEO | People | Co-Founder and CEO of Physics Wallah, leading the company through its growth and upcoming IPO. |
| Andhra Government | Collaborative Partner | Government | Partnering with Physics Wallah to establish a deeptech and AI-focused institute. |