PhysicsWallah Set to Buy Drishti IAS for ₹2,500 Crore

In a move that could reshape the edtech landscape, PhysicsWallah (PW), the leading online learning platform, is reportedly in the final stages of acquiring Drishti IAS, one of India’s top coaching institutes for UPSC (Union Public Service Commission) exams. If confirmed, this acquisition will mark one of the largest deals in the edtech industry in recent years.

According to sources familiar with the matter, PhysicsWallah is offering a massive ₹2,500–₹3,000 crore for the acquisition of Drishti IAS. Negotiations between the two educational giants began in January 2025, and the deal is expected to be finalized soon. This acquisition aligns with PhysicsWallah's strategic push towards expanding its offline presence, a crucial part of its long-term growth plans.

This deal comes at a pivotal moment for PhysicsWallah, which is gearing up for its Initial Public Offering (IPO). The Noida-based company has recently appointed independent directors in preparation for its public listing. With its IPO, PhysicsWallah plans to raise USD 500 million at a USD 5 billion valuation, signaling the company's ambition to become a key player in the global edtech market.

Payment Structure and Official Responses

The payment for this acquisition will be made in phases, linked to the future performance of Drishti IAS. This performance-based payment structure ensures that the deal is mutually beneficial and aligned with Drishti’s growth trajectory.

Despite the growing buzz around the acquisition, Vivek Tiwari, the CEO of Drishti IAS, has publicly denied the reports, calling the news a rumor. He clarified that while the company has been in discussions with IPO bankers, investors, and edtech leaders, no formal agreement has been reached. PhysicsWallah, as of now, has not provided any official comment regarding the deal.

Founded 26 years ago, Drishti IAS has established itself as a leading UPSC coaching institute with a revenue of ₹405 crore and a profit of ₹90 crore in FY24. On the other hand, PhysicsWallah, established just nine years ago, has quickly risen to prominence by offering online courses, test series, study materials, and a growing number of hybrid coaching centers. 

The acquisition of Drishti IAS is a critical part of PhysicsWallah’s strategy to expand its offline coaching operations. Last year, the company set a target to earn ₹1,000 crore+ from its offline centers by FY25. If the deal goes through, the addition of Drishti IAS, with its established infrastructure and brand recognition, could significantly accelerate PhysicsWallah’s offline growth plans and strengthen its position in the competitive edtech sector.