Leverage Edu, a startup specializing in study abroad services, has initiated discussions with investment bankers regarding a potential initial public offering (IPO) planned for the next 12 to 18 months. The company aims to raise between ₹2,000 and ₹3,000 crore through this public issue, which will include both a fresh issue of shares and an offer for sale (OFS).
The specific allocation between the fresh issue and the OFS is yet to be determined. Leverage Edu is targeting a valuation exceeding $900 million for the IPO, with investment bankers presenting it alongside other successful platform startups like Zomato and ixigo, suggesting similar valuation multiples.
Company Overview
Founded in 2017 by Akshay Chaturvedi, Leverage Edu assists students in applying to foreign universities. The platform also offers educational resources through its Leverage IELTS and Leverage TOEFL apps.
Funding and Growth
To date, Leverage Edu has secured approximately $73 million in funding from various investors, including Blume Ventures and DSG Consumer Partners. The startup recently reported a significant revenue increase of 112% year-over-year, reaching ₹375 crore in FY26, up from ₹173 crore the previous year. Additionally, it achieved EBITDA positivity in the last fiscal year.
Diverse Revenue Streams
Leverage Edu's revenue model has expanded to include a horizontal stack of services such as fintech, accommodation, travel, and career support, which now contributes between 25% and 33% of its total revenue. The company has also grown its customer base, adding over 55,000 users in the past year, bringing the total to more than 175,000.
Market Context
This move comes amid a surge in IPO activity within the Indian tech sector, with over 20 new-age tech companies having filed their draft red herring prospectuses (DRHPs) with SEBI, and more than 23 others in various stages of finalizing their IPO plans. Five new-age tech firms have already gone public in the first quarter of 2026.
As discussions continue, the startup's ambitions signal a growing trend in the Indian tech landscape, where education technology is gaining traction.
