NewsAug 28, 2026, 11:28 UTC

Lightspeed exits PhysicsWallah with ₹549.73 crore stake sale

What's the deal? Lightspeed Venture Partners has fully exited edtech company PhysicsWallah, selling its entire 1.61% stake for ₹549.73 crore through a block deal on the NSE. Lightspeed Opportunity Fund II LP, an affiliate of the US firm, offloaded 46,698,120 shares of the Noida based company at an average price of ₹117.72 each.

Who bought in? The deal drew 16 institutional investors, with ICICI Prudential Mutual Fund the largest buyer at 22 million shares, or roughly 0.76%, for ₹258.98 crore. Five entities tied to Goldman Sachs bought 8.96 million shares worth about ₹105.57 crore, while Tata AIA Life Insurance acquired 3.39 million shares for around ₹40 crore.

Other buyers included Morgan Stanley, Societe Generale, Citigroup Global Markets, Viridian Asset Management, Ghisallo Capital Management, Mediolanum International Funds, and the New York State Teachers Retirement System. Finland based OP Pohjola and Swiss bank J Safra Sarasin also participated.

Why now? The sale follows an improvement in PhysicsWallah's June quarter results. It narrowed its consolidated net loss to ₹77.57 crore, from ₹120.45 crore a year earlier.

Revenue from operations rose 24.4% to ₹1,053.95 crore in the first quarter of the current financial year, up from ₹847.09 crore. The growth came from its online and offline learning businesses.

The signal: An early backer cashing out fully as fresh institutional money moves in marks a shift in PhysicsWallah's shareholder base since its listing. Shares fell nearly 1% to ₹125.19 on the day of the deal.

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