PhysicsWallah (PW), a leading edtech company, acquired an additional 11% stake in UPSC coaching institute Sarrthi IAS for ₹71.81 crore, raising its holding from 40% to 51%. The transaction, completed under a shareholders’ agreement signed on September 2, 2025, marks the second tranche of a plan to acquire up to 85% of Sarrthi IAS by FY31, according to inc42.com.
The acquisition involved the purchase of 1,100 equity shares, increasing PW’s majority control in Sarrthi IAS. The deal is part of a six-tranche share purchase agreement between FY26 and FY31. PW initially acquired a 40% stake in Sarrthi IAS last September at a valuation of about ₹250 crore. Sarrthi IAS, founded in June 2023, provides both online and offline coaching for civil services and competitive exams, reporting a turnover of ₹76.52 crore in FY26, up 169% from the previous year, inc42.com reported.
This move strengthens PhysicsWallah’s presence in the UPSC and civil services exam preparation segment, expanding its footprint beyond its original competitive exam coaching. Founded in 2016 by Alakh Pandey, PW started as a YouTube channel before evolving into a full edtech platform. The company went public in November 2025, listing at ₹145 per share, a 33% premium to its IPO price, and recently narrowed its consolidated net loss by 76% to ₹69.1 crore, according to inc42.com.
The next planned acquisition tranche will further increase PW’s stake in Sarrthi IAS, with the full 85% ownership target set for completion by FY31, as outlined in the shareholders’ agreement signed in 2025, inc42.com detailed.