The study-abroad boom is producing IPO candidates. Leverage Edu is exploring a ₹500 Cr pre-IPO funding round that would bring a large private equity firm onto its cap table, according to an Inc42 exclusive published on 5 October 2026. The company has reportedly held talks with a couple of global PE firms; it did not respond to Inc42's queries, so treat this as reported rather than confirmed.
The numbers behind the ambition are striking. Leverage Edu is targeting ₹600 Cr in revenue in FY27, up roughly 61% from ₹372 Cr in FY26. It turned EBITDA profitable in FY26, posting EBITDA of ₹9.5 Cr — a milestone that changes the IPO conversation entirely.
The longer-term plan, per the report, is a ₹2,000–3,000 Cr IPO combining a fresh issue and an offer for sale, at a valuation of over $900 Mn. Founder and CEO Akshay Chaturvedi has committed to filing the DRHP by the end of 2027.
Founded in 2017, Leverage Edu helps students apply to foreign universities — a market that has grown relentlessly even through visa-policy turbulence. The company has been expanding its footprint: it acquired Brazil-based Mundus Agency in July 2026 and runs Fly Finance, a cross-border fintech arm that finances students' overseas education.
Bringing a large PE firm in pre-IPO would serve multiple purposes: a credibility anchor for the eventual listing, growth capital for international expansion, and a buffer against the cyclical risks of the study-abroad market.
With EBITDA profitability achieved and a DRHP deadline publicly committed, Leverage Edu has put itself on the clock. The next twelve months will show whether the ₹600 Cr target — and the PE anchor — materialise.
Why it matters for founders
Leverage Edu's playbook is the new IPO-prep standard: reach EBITDA profitability first, then raise a pre-IPO anchor round from a PE firm, then file. If you're targeting a 2027-28 listing, note the sequencing — the anchor round isn't about the money, it's about the signal the eventual IPO roadshow carries.