India, Sept. 29 -- Even as Alakh Pandey-led PhysicsWallah readies itself to become the first edtech startup to go public, there's one potential challenge that can snowball into a bigger mess.

In short, PhysicsWallah has a faculty problem, with teachers alleging unfair termination, an opaque review system and a focus on student retention rather than outcomes.

According to its pre-IPO disclosures, PW underwent a restructuring exercise in FY24 and FY25, which particularly impacted faculty members. Faculty attrition rate was 18% in FY23, and then grew to 40.4% in FY24 before coming down to 26% in FY25.

Inc42 has learnt that the startup has continued to let go of faculty members on allegedly unclear grounds even in FY26.

Sources close to t...