Highlights
PhysicsWallah Expands Investment in Sarrthi IAS for UPSC Coaching
PhysicsWallah, an edtech company, has made a significant investment of Rs 71.8 crore in the UPSC coaching platform, Sarrthi IAS. This move elevates its ownership in the firm from 40% to 51%, effectively turning Sarrthi IAS into a subsidiary, as detailed in a recent filing with the stock exchange.
This investment forms part of the second tranche of PhysicsWallah’s acquisition process of Guiding Light Education Technologies Private Limited, the managing entity behind the Sarrthi IAS brand. The board of the company also approved an amendment to the share purchase agreement to adjust the valuation method and total purchase amount for this tranche, while retaining the original transaction details.
In connection to this deal, PhysicsWallah will purchase an additional 1,100 equity shares, providing an extra 11% stake for a total sum of Rs 71.81 crore. Once the acquisition is finalised, Sarrthi IAS will officially operate as a subsidiary of the publicly listed edtech firm.
Background of PhysicsWallah’s Involvement with Sarrthi IAS
This recent investment comes nearly ten months after Startup Superb reported that PhysicsWallah had initially secured a 40% stake in Sarrthi IAS in anticipation of a public listing. The acquisition was mentioned in the company’s IPO prospectus released in November 2025, which revealed that PhysicsWallah had entered into share purchase and shareholders’ agreements with Sarrthi IAS and its stakeholders in September 2025 to acquire up to 85% of the firm in six tranches across FY26 to FY31, with the valuation linked to an EBITDA-based approach.
Overview of Sarrthi IAS and Financial Performance
Established in 2023, Sarrthi IAS offers both online and offline coaching tailored for UPSC Civil Services and other competitive exams. According to the filing, the company reported revenues of Rs 76.52 crore in FY26, rising from Rs 28.46 crore in FY25 and Rs 1.04 crore in FY24. Its net worth was noted at Rs 33.96 crore by the close of FY26.
This acquisition by PhysicsWallah is anticipated to bolster its foothold in the UPSC and civil services exam preparation sector, allowing it to expand beyond its primary K12 and test preparation offerings.