Eruditus joins queue of reverse flips by Indian startups, weighs IPO

Eruditus, an edtech unicorn backed by SoftBank, is considering a shift in domicile from Singapore to India as it evaluates a listing on the domestic bourses, according to people in the know.

Eruditus has emerged as the second-largest edtech in India, with Rs 3,322 crore in revenue ($400 million) for fiscal year 2023. It joins a growing list of Indian internet firms — Pine Labs, Udaan, Razorpay and Groww, among others — that are in the process of ‘reverse flipping,’ as local markets begin to offer rich valuations for new economy scrips.