PhysicsWallah shares in focus after it is likely to acquire stake in Rojgar With Ankit.

Synopsis: PhysicsWallah shares gained around 5% after reports suggested the company is in talks to acquire a stake in Rojgar With Ankit. If completed, this would mark the company’s first acquisition since its IPO, highlighting a strategic push into the government exam preparation segment.

One of India’s leading edtech platforms, PhysicsWallah, which primarily focuses on providing affordable online education for competitive exams such as JEE and NEET, saw its shares rise by over 5% following reports of ongoing acquisition talks with Rojgar With Ankit.

With a market capitalisation of ₹30,218 crores in the day’s trade, the shares of PhysicsWallah saw a 4.96% increase in their share price, reaching a high of ₹108.76 per share compared to their previous closing price of ₹100.68 per share, with the current market price being ₹105.40 a piece

Rojgar With Ankit: Rojgar With Ankit is an Indian edtech company and online test-preparation platform that provides coaching and resources for government job exams.

• First Acquisition Post Listing: The acquisition, estimated to be valued in the range of ₹300–400 crore, is expected to mark PhysicsWallah’s first deal since its public listing. This signals a strategic shift from purely organic growth towards a combination of organic and inorganic expansion. Such a move reflects the company’s intent to scale faster and strengthen its positioning in an increasingly competitive edtech landscape, where consolidation is becoming a key trend.
• Strategic Expansion into Government Exams: The potential acquisition aligns with PhysicsWallah’s broader strategy to strengthen its presence in the government test preparation segment, including exams such as UPSC, SSC, railways, and banking. This segment represents a large and recurring market opportunity, driven by consistent demand for public sector jobs.
• Building a Comprehensive Learning Ecosystem: PhysicsWallah is also expanding beyond its core segments by venturing into new categories such as CA exams through its CA Wallah initiative and MBA entrance preparation via MBA Wallah. This move reflects the company’s broader strategy to build a comprehensive, one-stop learning ecosystem catering to multiple competitive exam segments.

What It Means for Investors

The development highlights a broader shift within the edtech sector, where companies are increasingly focusing on scale, diversification, and platform-based growth. Expanding into the government exam segment could provide PhysicsWallah with a more stable and recurring revenue stream, and the positive stock reaction reflects initial investor optimism.

However, caution remains, as aggressive diversification can sometimes lead to fragmented focus if not executed efficiently. The success of this move will largely depend on the integration of the acquired platform, effective execution, and the company’s ability to maintain strong user engagement across segments.

Company Financials and Insights 

The company’s revenue rose by 33.58% from ₹810 crores in December 2024 to ₹1,082 crores in December 2025. Meanwhile, the reported EBITDA rose from ₹184 crores to ₹236 crores in the same period.

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