TFS Gulf 
- What do BB Virtuals and Swapnil Patni’s Classes (SPC) have in common?
- These top CA coaching brands in India are suddenly on investors’ radar, and money is pouring in.
- The big story: Investor Sunil Singhania’s Family Office backed SPC at a ₹240 crore valuation.
Meet SPC
In 2010, CA Swapnil Patni founded SPC, with just a single classroom in Pune.
Today, SPC stands as one of India’s most influential CA coaching brands.
SPC is powered by a hybrid learning model, that combines in-person classroom training with a next-generation OTT platform, offering live and recorded sessions.
Here’s what SPC has achieved:
- Community of over 3 lakh learners
- 150+ partners
- Presence in 1,800+ pin codes
- It also has India’s first-ever CA Residential Campus, SPC Gurukul
About Sunil Singhania
Sunil Singhania is a Chartered Accountant (CA), a CFA Charterholder, and the Founder of Abakkus Asset Manager LLP, one of India’s most prominent alpha-focused investment firms.
As of July 31, 2025, Abakkus has approximately ₹37,900 crore in assets under management (AUM).
Why is this Deal a big deal?
The investment, handled by Hem Securities, is a pre-IPO bet. Looks like SPC could soon be heading to the markets.
Sunil Singhania called SPC “a growing, committed company led by a visionary founder.”
He continued, “I see massive growth potential in SPC and a strong purpose to transform education through innovation and technology.”
Swapnil Patni echoed his enthusiasm: “We’re honoured to welcome Sunil Singhania, Sir. His guidance will accelerate SPC’s next phase of growth and innovation in the education space. His backing will be a complete game-changer.”
Also read: 31,946 New CAs qualified in 2024: ICAI aims for 30 lakh CAs!
India’s CA coaching scene
It’s not just SPC. The entire CA coaching scene is booming, and investors are racing to grab a piece of it at sky-high valuations:
- BB Virtuals: 51% acquired by Veranda Learning for ₹126.2 crore (valuation ₹248 crore).
- Navkar Digital Institute: 65% acquired by Veranda Learning for ₹45.5 crore.
- Ekagrata Eduserv Pvt Ltd: Got acquired by Adda247.
- J.K. Shah Classes: In 2023, Veranda announced the acquisition of industry leader J.K. Shah Classes. The acquisition was valued at ₹337.82 crore.
Wrapping up….
Despite there being a drop in the number of enrolled students for CA exams, the base is surely expanding:
The 2025 stats
- CA Foundation: 3,47,256 students (Up from 2,60,408 in 2024)
- CA Intermediate: 4,17,609 students (Up from 4,14,481 in 2024)
- CA Final: 2,41,391 students (Up from 1,97,655 in 2024)
Additionally, the Institute of Chartered Accountants of India (ICAI) projects that India will require 50 lakh new Chartered Accountants by 2050.
It’s no wonder investors are betting big on accounting and finance coaching institutes.
FAQs
1. How big is India’s CA coaching institutes market?
A precise market size specifically for the CA (Chartered Accountant) coaching industry in India is difficult to isolate from the broader test preparation and coaching market.
However, the overall India coaching institutes market (covering academic and professional exam prep) was estimated at USD 6.50 billion in 2024, according to the IMARC Group.
And it’s projected to grow to USD 17.40 billion by 2033, at a CAGR of 10.4% from 2025-2033.
2. How many Chartered Accountant students qualified in 2024?
In 2024, a total of 31,946 candidates qualified as Chartered Accountants through ICAI.
May 2024 Session
- Group I: 74,887 appeared, 20,479 passed (27.35%)
- Group II: 58,891 appeared, 21,408 passed (36.35%)
- Both Groups: 35,819 appeared, 7,122 passed (19.88%)
CA Final: November 2024 Results
- Group I: 66,987 appeared, 11,253 passed (16.8%)
- Group II: 49,459 appeared, 10,566 passed (21.36%)
- Both Groups: 30,763 appeared, 4,134 passed (13.44%)
3. How many Chartered Accountant students qualified in 2025?
May 2025 Session
- Group I: 66,943 appeared, 14,979 passed (22.38%)
- Group II: 46,173 appeared, 12,204 passed (26.43%)
- Both Groups: 5,490 candidates cleared both groups (18.75%)
November 2025 Session
- Group I: 51,955 appeared, 12,811 passed (24.66%)
- Group II: 32,273 appeared, 8,151 passed (25.26%)
- Both Groups: 2,727 candidates cleared both groups (16.23%)
