Elevate Campuses IPO
Bookbuilding IPO | ₹2,100.00 Cr | Listing at BSE, NSE
IPO Open
Wed, Sep 23, 2026
IPO Close
Fri, Sep 25, 2026
Price Band
₹343.00 to ₹362.00
Market Cap (Pre-IPO)
₹6,100.82 Cr
IPO Details
| IPO Date | Sep 23, 2026 to Sep 25, 2026 |
| Listing Date | Tentative: Sep 30, 2026 |
| Face Value | ₹1.00 per share |
| Price Band | ₹343.00 to ₹362.00 |
| Lot Size | 41 Shares (Minimum: ₹14,842.00) |
| Sale Type | Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹2,100.00 Crores |
| Total Shares Offered | 58,011,049 shares |
| Fresh Issue | 58,011,049 shares |
| Offer For Sale | 58,011,049 shares |
Elevate Campuses IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | Not less than 75% of the Issue |
| Retail Shares Offered | Not more than 10% of the Issue |
| NII Shares Offered | Not more than 15% of the Issue |
Elevate Campuses IPO Lot Size
Investors can bid for a minimum of 41 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 41 | ₹14,842 |
| Retail (Max) | 13 | 533 | ₹192,946 |
| S-HNI (Min) | 14 | 574 | ₹207,788 |
| S-HNI (Max) | 67 | 2,747 | ₹994,414 |
| B-HNI (Min) | 68 | 2,788 | ₹1,009,256 |
Elevate Campuses Financial Information (Restated Consolidated)
Elevate Campuses Ltd.'s revenue increased by 53% and profit after tax (PAT) rose by 249% between the financial year ending with March 31, 2026 and March 31, 2025.
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 5,773.35 | 2,421.20 | 2,104.74 |
| Total Income | 603.39 | 394.13 | 362.61 |
| Profit After Tax | 173.76 | 394.13 | 39.69 |
| EBITDA | 545.00 | 394.13 | 220.13 |
| NET Worth | 956.29 | 699.78 | 655.77 |
| Reserves and Surplus | 947.45 | 697.57 | 655.77 |
| Total Borrowing | 4,120.53 | 1,206.60 | 984.71 |
Amount in ₹ Cr
Key Performance Indicators
As of Tuesday, March 31, 2026| KPI | Values |
|---|---|
| ROE (Return on Equity) | 6.42% |
| Debt/Equity | 4.98 |
| RoNW (Return on Net Worth) | 18.17% |
| PAT Margin (Profit After Tax Margin) | 28.80% |
| EBITDA Margin | 90.32% |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 15.72 | 10.31 |
| P/E (x) | 23.03 | 35.11 |
Company Overview
Elevate Campuses Ltd. – Company Overview
- Incorporated in 2005, Elevate Campuses Ltd. is an education infrastructure company engaged in owning, operating and managing on-campus student accommodation for higher education institutions (HEIs) and owning K-12 school assets.
- The Company operates its student accommodation business under the Good Host Spaces and ScholarZ brands.
- As of March 31, 2026, the Company's Pre-Acquisition Group had a student accommodation capacity of 80,255 students across 15 cities in India and one city in the United Arab Emirates.
- Its portfolio included seven owned student accommodation campuses with 20,368 beds across six Indian cities and 14 managed campuses with 55,487 beds.
- The Company provides operational services covering deal sourcing, site selection, development, asset acquisition, asset repositioning and community engagement.
- It also provides community and campus technology services, including media coverage of higher education institutions and community events.
- The Company works with educational institutions including Manipal Academy of Higher Education, Manipal University, Jaipur and Meraki Education.
- As of March 31, 2026, its owned student accommodation portfolio recorded an occupancy rate of 89.37% for Academic Year 2025-26.
- Since commencing operations as an independent owner and operator of student accommodation in Financial Year 2018, the Company has expanded its owned student accommodation portfolio from 9,153 beds to 20,368 beds as of March 31, 2026.
- As of March 31, 2026, the Company had 460 full-time employees in its Pre-Acquisition Group.
Use of Proceeds
| 1) | Payment of the purchase consideration for the acquisition of the K-12 Entities and Campuses | 1,100.00 |
| 2) | Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable of availed by Company and certain of Subsidiaries, namely GHS Shoolini, GHS Sonipat, Souk HIS UAE and Souk NLCS UAE, through investment in such Subsidiaries | 750.00 |
| 3) | Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes, | |
| Total | 1,850.00 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Quick Info
| Sector | Education Infrastructure and Services |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹6,100.82 Cr |
Important Dates
| IPO Open | Sep 23, 2026 |
| IPO Close | Sep 25, 2026 |
| Allotment Date | Sep 28, 2026 |
| Credit to Demat | Sep 29, 2026 |
| Listing Date | Tentative: Sep 30, 2026 |
Lead Manager(s)
JM Financial Ltd.
Registrar
Description
- IPO Type: Book build issue aggregating to ₹2,100.00 crores.
- Issue Structure: The issue is entirely a fresh issue of 5.80 crore shares aggregating to ₹2,100.00 crores.
- IPO Dates: The issue opens for subscription on September 23, 2026 and closes on September 25, 2026.
- Allotment Date: The allotment is expected to be finalized on September 28, 2026.
- Listing Details: The shares are proposed to be listed on NSE and BSE on September 30, 2026.
- Retail Investment Requirement: Minimum 1 lot (41 shares) amounting to approximately ₹14,842 at the upper price band.
- Issue Price Band: ₹343 to ₹362 per equity share.
- Lot Size: 41 shares per lot.
This IPO offers investors an opportunity to participate in the company through an entirely fresh issue of shares.