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Elevate Campuses IPOLISTED
Elevate Campuses Limited is an education infrastructure company focused on student accommodation for higher education institutions and K-12 education assets across India and the UAE.
Listing price
₹355.1
Listing gain
-1.91%
Current
₹355.1
Listed
30 Sept 26
Opens
23 Sept 26Closes
25 Sept 26Allotment
28 Sept 26Refund
29 Sept 26Demat
29 Sept 26Listing
30 Sept 26Listed at
₹355.1
-1.91% on 30 Sept 26
Overview
Price band
₹343-362
Lot size
41 shares
Min. investment
₹14,842
Issue size
₹2100.00 Cr
5.80 Cr shares
Fresh issue
₹2,100 Cr
5.80 Cr shares
Face value
₹1 / share
Issue type
Book Built Issue
Listing at
NSE, BSE
Reservation
| Category | Shares offered | % of issue |
|---|---|---|
| Anchor Investor | 2,61,04,972 | 45% |
| QIB | 1,74,03,316 | 30% |
| NII (HNI) | 87,01,657 | 15% |
| B-HNI | 58,01,105 | 10% |
| S-HNI | 29,00,552 | 5% |
| Individual | 58,01,104 | 10% |
| Total | 5,80,11,049 | 100% |
Lot size & investment
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 41 | ₹14,842 |
| Retail (Max) | 13 | 533 | ₹1,92,946 |
| S-HNI (Min) | 14 | 574 | ₹2,07,788 |
| S-HNI (Max) | 67 | 2,747 | ₹9,94,414 |
| B-HNI (Min) | 68 | 2,788 | ₹10,09,256 |
Listing performance
NSE/BSE: ELEVATEListing gain
−1.91%
Gain per retail lot
₹-282.9
Latest vs issue
—
GMP was
₹7 (+1.93%)
Issue price
GMP estimate
Listing price
Latest price appears here during market hours.
Elevate Campuses Live GMP
Not enough GMP history yet to draw a trend.
Subscription
11 Oct, 12:56 pmOversubscribed 1.89 times · 66,061 applications
Total applications
66,061
Total bid amount
₹2,182 Cr
Category breakdown
| Category | Shares offered | Shares bid | Times | Bid amount |
|---|---|---|---|---|
| QIB | — | — | 2.66x | ₹1,677 Cr |
| NII (HNI) | — | — | 0.89x | ₹281 Cr |
| B-HNI | — | — | 0.87x | ₹183 Cr |
| S-HNI | — | — | 0.93x | ₹97.63 Cr |
| Retail | — | — | 1.07x | ₹225 Cr |
| Total | — | — | 1.89x | ₹2,182 Cr |
Financials
(₹ in crores)
Key performance indicators
As of 31 Mar 2026PAT Margin
28.8%
ROCE
6.8%
EBITDA Margin
90.32%
Debt to Equity Ratio
4.98
RoNW
18.17%
Valuation vs listed peers
EPS Pre IPO
₹15.72
EPS Post IPO
₹10.31
P/E Pre IPO
23.03
P/E Post IPO
35.11
Price-to-earnings
| Company | P/E | P/B | RoNW | Face value |
|---|---|---|---|---|
| The Company does not have any listed peer in India with a comparable business portfolio; accordingly, industry comparisons may not be relevant. | — | — | — | — |
Ratios as disclosed in the offer document.
Buzz AI analysis
From this IPO's filings and market data · educational, not investment advice
Revenue growth FY24 → FY26
+66.4%
Profit growth FY24 → FY26
+337.8%
ROCE
6.80%
- PAT margin 28.8% and ROCE 6.8%.
Strengths & risks
- Strong Portfolio with 75,855 student accommodation beds.
- Diversified Assets across student accommodation and K-12.
- Institutional Relationships with leading HEIs.
- High Occupancy of 89.37% in owned portfolio.
- Asset-Light Model supporting scalable growth.
Buzz score · Watch
From GMP, subscription and issue size
Objects of the issue
| Purpose | Amount (₹ Cr) |
|---|---|
| Payment of the purchase consideration for the acquisition of the K-12 Entities and Campuses. | 1100 |
| 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 |
| Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes. | - |
Company & documents
Elevate Campuses Limited is an education infrastructure company focused on student accommodation for HEIs and K-12 education assets, operating its student accommodation business under the Good Host Spaces and ScholarZ brands.
As of March 31, 2026, the Company had a capacity of 80,255 students across India and the UAE, including 7 owned student accommodation campuses with 20,368 beds across six Indian cities, 14 managed campuses with 55,487 beds, and 2 K-12 assets in Dubai with a capacity of 4,400 students.
The Company offers student accommodation services including dining, laundry, gym, sports facilities, security, retail and recreation facilities. As of March 31, 2026, 62 retail outlets were operational across its portfolio.
Elevate provides capabilities in deal sourcing, site selection, development, asset acquisition, repositioning and community engagement. It also offers community and campus technology services and collaborates with institutions including MAHE, MUJ and Meraki Education.
Since FY2018, the Company has expanded its owned accommodation portfolio from 9,153 to 20,368 beds and its managed portfolio to 55,487 beds since FY2024. Its owned portfolio recorded 89.37% occupancy in Academic Year 2025-26.
he Company has expanded into K-12 education infrastructure, including two Dubai assets. Its model involves owning and developing school infrastructure, leasing it to operators, and managing upgrades and facilities.
As of March 31, 2026, the Pre-Acquisition Group had 460 full-time employees.
Registrar
Company contact
Elevate Campuses Ltd.
Naman Midtown, Unit No 902-906 9 th Floor, Tower B, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra, 400013
Phone: +91 22 6820 1600
Book running lead managers
- JM Financial Limited
- IIFL Capital Services Limited
- Morgan Stanley India Company Private Limited
Promoters
- Genius Bidco Holdings Pte.Ltd.
- Genius Rajkot Investment Holdings Pte. Ltd.