**Edtech Startups Prepare for IPOs Amid Market Skepticism**
After a prolonged funding slowdown in the edtech sector and discrepancies in valuation expectations within private markets, several startups are positioning themselves for public listings in the next 1-2 years. Notable companies such as Imarticus, Classplus, Jaro Education, and Physics Wallah are taking steps toward their market debut. While some have already submitted their offer documents, others are in talks with investment bankers to finalize their IPO plans.
Physics Wallah has engaged Axis Capital, Kotak Mahindra Capital, Goldman Sachs, and JP Morgan as its bankers and is expected to file its draft red herring prospectus (DRHP) within the next month. The company aims to raise between $300 million and $400 million. Imarticus Learning is in advanced discussions with IIFL and Ambit to secure their services for an IPO planned for next year, targeting a fundraising of ₹800-₹1,200 crore.
Classplus is also exploring its options, engaging with several bankers as it considers a public listing within the next two years. The overall sentiment in the IPO market appears positive, with some founders expressing a preference for public offerings over private equity options.
Additionally, other edtech companies like Leverage Edu and upskilling unicorn upGrad are contemplating public listings in the next few years. Eruditus is in the process of relocating its headquarters from Singapore to India in preparation for a potential stock market entry.
