Archive · 16 Dec 2025
upGrad Prepares for $350–400 Million IPO by 2027
upGrad, a company that helps people learn online, is getting ready to go public in 2027.
They want to raise between $350 and $400 million.
They are also talking to other companies like Byju’s and Unacademy about buying some of their parts or doing a deal where they swap shares.
upGrad is doing well, with more money coming in and less money being lost.
They are also expanding to other countries and opening more places where people can learn in person.
The company wants to be ready for its big public debut by focusing on making money and growing.
upGrad is preparing for an IPO expected to raise $350–400 million by 2027.
The company is in talks to acquire assets from Byju’s and exploring a share-swap deal with Unacademy.
upGrad has seen a 5.5% revenue growth and halved its net loss in FY25, turning operationally profitable.
The company is expanding internationally, with 40% of its B2C revenue coming from overseas markets.
upGrad plans to finalize investment banks by February or March 2024 for its IPO preparations.
- Who
- upGrad, an edtech company backed by Temasek
- What
- Preparations for an IPO and potential acquisitions
- When
- Targeting 2027 for IPO, with banker discussions expected in early 2024
- Where
- India and international markets, with a focus on West Asia and Southeast Asia
- Why
- To reset its business, focus on consolidation, overseas expansion, and cost discipline ahead of the IPO
- Company
- upGrad
- IPO Target Year
- 2027
- IPO Size
- $350–400 million
- Current Valuation
- $2.25 billion
- Revenue (FY25)
- ₹1,569.3 crore
- Net Loss (FY25)
- ₹273.7 crore
- Founded
- 2015
- Key Investors
- Temasek, IFC, EvolutionX, 360 One