Before the IPO, Think Investments invested Rs. 136 crores invested

As part of a pre-IPO funding round, global investment firm Think Investments has raised Rs. A little over 136 crores have been invested.

The fresh impetus comes as the company prepares for its upcoming initial public offering (IPO) next week.

As part of the transaction, Think Investments bought 1.07 crore equity shares from 14 employees of the adtech firm, holding 0.37 per cent stake in Physixwala.

Share Rs. 127 per unit, which is 17 percent higher than the issue price. This Rs. Translates to a transaction size of 136.17 crores.

“Pursuant to the share purchase agreement read with an amendment dated November 3, 2025, 14 employees of the Company have transferred 10,722,708 equity shares to Think India Opportunities Master Fund LP on November 4. Public announcement.

Think Investments is a USD 4 billion global investment firm, focused on supporting technology-based early-stage businesses. In India, Think Investments has built a diversified portfolio with investments in some of the leading companies including Swiggy, FirstCry, Urban Company, Pharmacy, Experian, Spiny, NSE, Star Health, Meesho, Rapido, Chaos and Dream11.

Between January and July 2025, Physikswala saw strong investor interest through a series of ESOP liquidations facilitated by Funds India, a wholly-owned subsidiary of Westbridge Capital. These transactions per share amount to Rs. 127-137 were executed.

Several reputed family offices have shown their faith in the long-term growth story of the edtech company, through multiple phases during this period of around Rs. 76 crore has been invested.

PhysicsWallah its Rs. 3,480 crore is gearing up to launch an initial public offering (IPO), which will open on November 11. Per share firm Rs. 103-109 with a price band of Rs. Targeting a valuation of over 31,500 crores.

The IPO was led by co-founders and promoters Alakh Pandey and Prateek Bub at Rs. 3,100 crore new issue and Rs. 380 crore including an offer-for-sale (OFS).

Together, the promoters hold 80.62 percent of the company, which will come down to 72 percent after the IPO. Significantly, none of the initial investors will sell their stake in the offering. The issue will close on November 13, with anchor investor allocation scheduled for November 10.

The proceeds of the IPO will be used to fund expansion and growth initiatives.