Physicswallah Strengthens Ed-Tech Foothold with Rs 71.81 Crore Majority Stake in UPSC-focused Sarrthi IAS
PhysicsWallah Limited (PWL) has strengthened its presence in India’s civil services coaching market by acquiring a majority stake in Guiding Light Education Technologies Private Limited, the company operating under the Sarrthi IAS brand.
The acquisition, announced on July 17, 2026, increases PhysicsWallah’s shareholding in Sarrthi IAS from 40% to 51%, making the company a subsidiary of PhysicsWallah.
Deal Valued at ₹71.81 Crore
Under the transaction, PhysicsWallah will acquire 1,100 equity shares of Sarrthi IAS for an aggregate consideration of ₹71.81 crore, which will be paid entirely in cash.
The acquisition forms part of PhysicsWallah’s strategy to strengthen its position in the UPSC and civil services examination preparation segment, one of India’s fastest-growing education categories.
Part of a Long-Term Acquisition Strategy
The latest investment is the next phase of a broader acquisition plan announced in September 2025.
Under the Shareholders’ Agreement and Share Purchase Agreement executed on September 2, 2025, PhysicsWallah plans to increase its ownership in Sarrthi IAS to 85% of the fully diluted equity share capital through six acquisition tranches, with the process expected to be completed by FY2031.
Following the completion of the current tranche, Sarrthi IAS officially becomes a subsidiary of PhysicsWallah.
Strengthening the UPSC Coaching Business
Founded on June 20, 2023, Sarrthi IAS offers both online and offline coaching for:
- UPSC Civil Services Examination
- State Public Service Commission examinations
- Other competitive examinations
The acquisition expands PhysicsWallah’s portfolio beyond engineering, medical, and other competitive entrance exams, strengthening its presence in the civil services education segment.
Sartthi IAS Reports Strong Revenue Growth
Sarrthi IAS has witnessed rapid business growth since its inception.
According to the company’s disclosed financial information:
- FY2023-24 Revenue: ₹1.04 crore
- FY2024-25 Revenue: ₹28.46 crore
- FY2025-26 Revenue: ₹76.52 crore
The strong growth trajectory highlights increasing demand for civil services coaching and supports PhysicsWallah’s expansion strategy in the segment.