Exclusive: Imarticus Eyes Confidential Filing In 2-3 Months For ₹1,000 Cr IPO

Edtech startup Imarticus Learning plans to file its DRHP with SEBI through the confidential route within the next two to three months for a ₹1,000 Cr IPO, sources told Inc42. 

The proposed issue size has increased from the ₹750 Cr planned earlier, which was to comprise a mix of fresh issue and an offer for sale (OFS).

Imarticus intends to use proceeds from the IPO to expand its existing business and pursue acquisitions, the sources added.

Its organic expansion could include setting up more Centres of Excellence (CoEs), expanding offerings at the Imarticus School of Finance and Business (ISFB), and strengthening its B2B business, they said.

Inc42 has reached out to Imarticus for comment on its IPO plans. The story will be updated on receiving a response.

Expanding Ahead Of IPO

The IPO preparations follow Imarticus’ recent ₹800 Cr acquisition of Singapore’s BELLS Institute of Higher Learning, aimed at expanding its presence in Singapore and Southeast Asia.

The acquisition also strengthened its capabilities in enterprise learning, AI, data analytics, technology, and workforce development. Imarticus plans to launch the BELLS School of AI, offering courses in machine learning, AI applications in finance and fintech, and business transformation.

The startup also inaugurated a Centre of Excellence for the Indian capital market in August. This followed the launch of ISFB last year, with an inaugural undergraduate cohort of 50 students.

Founded in 2012 by Nikhil Barshikar and Sonya Hooja, Mumbai-based Imarticus offers professional education and upskilling programmes across finance, banking, analytics, technology, marketing, and management.

Its business spans B2C programmes for students and working professionals, alongside enterprise training, e-learning, and workforce development solutions.

Last year, the startup acquired edtech platform MyCaptain in a ₹50 Cr cash and stock deal to broaden its course offerings, drawing on the latter’s expertise in digital marketing.

The planned offering follows PhysicsWallah’s ₹3,480 Cr IPO in November 2025. Meanwhile, Fusion Klassroom Edutech listed on the BSE SME platform in August 2026 following its ₹39.04 Cr IPO.

Imarticus’ IPO preparations come amid a prolonged funding slowdown and consolidation in the edtech sector. Last month, upGrad completed its acquisition of Unacademy in a deal valuing the latter at just over $200 Mn, down more than 90% from its peak valuation of $3.5 Bn.

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