PhysicsWallah's plan to acquire Drishti IAS for ₹2,500–3,000 crore has been called off. The deal was in advanced talks but didn't go through.
Drishti IAS, a profitable UPSC coaching institute, decided to remain independent. They felt confident in their growth and didn't want external funding.
Founded in 1999, Drishti IAS is popular among Hindi-medium UPSC aspirants. In FY24, they earned ₹405 crore revenue and ₹90 crore profit.
PhysicsWallah is preparing for an IPO, aiming to raise ₹4,600 crore. They continue to expand into various exam preparations, including UPSC.
Both companies will pursue their own growth strategies. The cancelled deal shows the dynamic nature of India's edtech sector.