Drishti IAS is one of the most famous names in UPSC coaching.

New Delhi: In the first week of April, we had reported that Vikas Divyakirti, who runs Drishti IAS coaching center, wanted to sell his education business and Physics Wallah had shown interest in buying the business. It was further mentioned that this deal would be completed for Rs 2,500 crore, making it the biggest deal in the world of edutech. Alakh Pandey is famous as PhysicsWallah among crores of students of the country.

Now, as per the latest news coming in says that the much publicised acquisition of Drishti IAS by PhysicsWallah has been called off. The deal was in advanced stages but ultimately fell through due to multiple reasons, according to a report by Entrackr.

PhysicsWallah was actively exploring acquisitions to strengthen its position in the civil services preparation segment as suggested by multiple reports in April.

Drishti IAS is one of the most famous names in UPSC coaching, especially among Hindi-medium aspirants. According to the report, Drishti IAS evaluated the proposal after being approached by PhysicsWallah.

However, considering its strong financial performance and independent growth, the company decided not to go ahead with the deal. The report added that Drishti IAS is currently not looking to raise external funds or be acquired. Founded in 1999, Drishti IAS has built a strong presence in the civil services coaching space.

In the financial year 2023–24, the Delhi-based institute reported revenue of Rs 405 crore and a profit after tax of Rs 90 crore which indicates that the institute is also expected to post healthy growth in FY25.

PhysicsWallah, which originally focussed on online coaching for engineering and medical entrance exams, has recently been expanding into UPSC and other competitive exams. It was in this regard that its acquisition of Drishti IAS was seen as a strategic step to strengthen its offline footprint and diversify its educational offerings, particularly ahead of its planned stock market debut.

Both PhysicsWallah and Drishti IAS have not officially responded to the matter till the time of filing this report.

(With IANS inputs)