Lightspeed Venture Partners exited its stake in edtech company PhysicsWallah by selling 4.67 crore shares worth ₹549.7 crore on August 26. The shares were sold via block and bulk deals at a weighted average price of ₹117.72 each, a 6.7% discount to the stock’s closing price, according to inc42.com. This marks Lightspeed’s complete exit from its investment in PhysicsWallah.
The stake sale was executed through Lightspeed Opportunity Fund II, which held 1.61% of PhysicsWallah as of June 30, 2026. ICICI Prudential Mutual Fund was the largest buyer, acquiring 2.2 crore shares valued at ₹259 crore. Other buyers included Goldman Sachs, which purchased 89 lakh shares across five entities, along with Ghisallo Master Fund, Societe Generale, and Morgan Stanley Asia. Lightspeed initially invested in PhysicsWallah during its $210 million Series B round in September 2024 and held 1.79% at the time of the company’s November IPO.
This exit is significant in the edtech investment landscape, as Lightspeed was among the early backers of PhysicsWallah, a company that raised up to ₹3,100 crore during its public listing. Other institutional investors like WestBridge Capital, Hornbill Capital, and GSV Ventures remain invested. The sale reflects a trend of early investors liquidating stakes post-IPO to realize gains, while institutional buyers continue to accumulate shares in the growing edtech sector.
PhysicsWallah’s stock closed at ₹126 on the day of the sale, and the transaction involved 4.67 crore shares, representing Lightspeed’s entire holding. The company’s promoter Alakh Pandey and co-founder Prateek Maheshwari continue to lead the firm, which remains a key player in India’s edtech market.