Study-abroad platform Leverage Edu is exploring a ₹500 crore pre-IPO funding round and has held talks with global private equity firms to bring a large PE investor onto its cap table, sources told Inc42. The round would close ahead of its planned ₹2,000–3,000 crore IPO.
The startup is targeting ₹600 crore in revenue in FY27, up 61% from ₹372 crore in FY26, with management wanting to reach that milestone before going public. The company turned EBITDA profitable in FY26, posting ₹9.5 crore EBITDA, and is targeting a valuation of over $900 million at listing. Founder and CEO Akshay Chaturvedi has committed to the board that the company will list by the end of next year, and bankers are being finalised. The IPO is expected to comprise a fresh issue and an offer for sale, with the split yet to be decided.
Founded in 2017, Leverage Edu helps students apply to foreign universities, alongside IELTS and TOEFL prep apps. It has been expanding internationally — in July 2026 it acquired Brazil-based international education company Mundus Agency. Investment bankers position it alongside platform businesses like Zomato, ixigo and Shadowfax, with expectations of similar valuation multiples.
The pre-IPO round plus a profitable FY26 base makes Leverage Edu one of the stronger candidates in the edtech IPO pipeline — a sector that has seen few listings since the 2021-22 wave.
Why it matters for founders
The IPO window in India now rewards one thing above all: a profitable growth curve before filing. Leverage Edu's playbook — turn EBITDA positive, lock in a ₹600 crore revenue target, then bring in a PE anchor — is the template for any growth-stage startup eyeing a 2027 listing.
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