PhysicsWallah’s Rs 31,000 cr story: Why Alakh Pandey thrived and Byju’s didn’t

Edtech company PhysicsWallah Ltd’s listing is one of the sector’s most telling turnarounds. It’s a business that is rising amongst many that didn’t. PhysicsWallah is entering the public market with a valuation of Rs 31,170 crore, while the industry’s former poster child, BYJU’S, faces insolvency proceedings and regulatory action. On the eve of PhysicsWallah’s biggest show, Byju’s issued a media statement over the fund siphoning allegations.

But before we delve into comparing the fortunes of two edtech giants of India, let’s start from where it all began.