Lightspeed sells entire PhysicsWallah stake for Rs 550 crore via block deal
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Lightspeed Venture Partners has fully exited edtech firm PhysicsWallah through a block deal valued at nearly Rs 550 crore.
Lightspeed Opportunity Fund II sold its entire holding of 4.67 crore shares, equivalent to a 1.61% stake in the company, at Rs 117.72 per share. The transaction was valued at Rs 549.73 crore and marked the fund’s complete exit from PhysicsWallah.
The shares were acquired by a group of domestic and international institutional investors. ICICI Prudential Mutual Fund emerged as the largest buyer, purchasing 2.2 crore shares worth around Rs 259 crore.
Other investors participating in the transaction included Citigroup Global Markets Mauritius, Viridian Asia Opportunities Master Fund, several Goldman Sachs entities, GS India Equity, JSS Investmentfonds II, Ghisallo Master Fund, Mediolanum India Opportunities, Morgan Stanley Asia Singapore, New York State Teachers Retirement System, OP-India Fund, Societe Generale, and Tata AIA Life Insurance.
PhysicsWallah posted a 24% increase in revenue to Rs 1,054 crore in the first quarter of FY27. Its consolidated net loss narrowed to Rs 88 crore from Rs 127 crore a year earlier, while EBITDA turned positive at Rs 52 crore compared to a loss of Rs 21 crore in the corresponding quarter last year.