**upGrad Plans for IPO by 2027 Amidst Strategic Growth Initiatives**
upGrad co-founder and chairman Ronnie Screwvala has indicated that the company is considering inorganic growth opportunities while aiming to enhance its organic growth. “We are targeting the year 2027 for our public listing,” Screwvala stated. He noted the positive trend of several ed-tech companies, including Crizac, Veranda Learning Solutions, and PhysicsWallah, successfully going public, which he believes is beneficial for the sector.
Former managing director and co-founder Mayank Kumar previously mentioned that upGrad was looking to enter the public market within two years, aiming for a debut in 2024. The company is also focusing on expanding its international business while exploring acquisitions within India, including parts of Byju’s and a potential share-swap deal with Unacademy, valued between $300-400 million. This type of deal would involve offering shares instead of cash to the target company’s investors.
Madhavan Srivatsan, a senior partner at Emerald Law, emphasized the importance of consistent returns for any ed-tech company preparing for an IPO, highlighting the need to strengthen revenue and income streams.
Screwvala outlined that upGrad is targeting a year-on-year growth of 25-30%, driven primarily by its business-to-consumer verticals, which include international learning, study abroad programs, and degrees from Indian universities. Since going global in 2021 with an office in Singapore, upGrad has achieved a 40% compound annual growth rate in its international B2C business.
In its latest financial report, upGrad’s consolidated revenue increased by 5.5% to ₹1,569.3 crore in FY25, up from ₹1,487.6 crore in FY24. The company’s net loss also decreased by 51% to ₹273.7 crore, attributed to a significant reduction in spending as it prioritizes profitability ahead of its IPO plans.
Myleeta Aga-Williams, CEO of upGrad’s international consumer business, noted that the fastest-growing regions for the company are the Middle East and Vietnam, with growth rates of 50-60% year-on-year. Currently, the international business accounts for 40% of upGrad’s B2C revenue, showcasing the company’s commitment to expanding its global footprint.
**FAQ**
*What is upGrad’s timeline for going public?*
upGrad aims to go public by 2027, focusing on both organic and inorganic growth strategies to strengthen its market position before the IPO.
