Elevate Campuses Limited IPO
Open now23–25 Sep 2026
Latest update:
GMP +2.2% (₹8) · Price band ₹343–₹362 · Closes 25 Sep 2026 · Allotment 28 Sep 2026 (Confirmed) · Lists 30 Sep 2026 (Expected)
What Elevate Campuses Limited does
The company owns, operates, and manages on-campus student accommodation across higher education institutions (HEIs) and owns K-12 Assets in India and Dubai. It operates its student accommodation business under the 'Good Host Spaces' and 'ScholarZ' brands, aiming to build inclusive educational communities that nurture student wellbeing and holistic development.
Elevate Campuses Limited financials
Rs crore · AnnualLatest year highlighted in green. Sparklines show the trend.
| 2024 | 2025 | 2026 | ||
|---|---|---|---|---|
| Sales | 347 | 370 | 569 | |
| Operating Profit | 220 | 256 | 545 | |
| OPM % | 60.7% | 65.1% | 90.3% | |
| Net Profit | 40 | 50 | 174 | |
| Total Debt | 985 | 1,207 | 4,121 |
Elevate Campuses Limited IPO offer structure
Fresh issue: ₹2,100 cr
The offer-for-sale component is not stated in what we extracted from the offer document, so the full issue size and the split between the two are unknown. This figure is the fresh issue alone, not the total raise. Fresh issue proceeds go to the company; OFS proceeds go to selling shareholders.
Issue size and split come from a public aggregator rather than the exchange, cross-checked against a second one. The offer document states the offer-for-sale as a share count against a blank amount, so it cannot be read from the document itself.
Use of proceeds- Payment of the purchase consideration for the acquisition of the K-12 Entities and Campuses from the fellow subsidiaries of our Promoters: ₹110 cr
- Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable of borrowings availed by our Company and certain of our wholly-owned Subsidiaries: ₹75 cr
- Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes
Elevate Campuses Limited promoters and holding
- Genius Bidco Holdings Pte. Ltd.: Promoter
- Genius Rajkot Investment Holdings Pte. Ltd.: Promoter
Elevate Campuses Limited strengths and risks
Company-stated strengths and disclosed risk factors from the offer document.
- We are an institutionalized and independent platform engaged in owning, operating, and managing on-campus student accommodation across HEIs in India and owning K-12 assets in India and Dubai trusted by leading education groups. (p.162)
- Strong operational capabilities and superior asset management expertise. (p.162)
- Commitment to superior student experience and well being. (p.162)
- Strategically located, quality modern portfolio. (p.163)
- Derisked business model with clear cash flow visibility and consistent growth and profitability. (p.163)
- The company derives a substantial portion of its revenue from the student accommodation business in its Owned Portfolio. (p.30)
- A significant portion of revenue is derived from three of its largest HEIs, making it vulnerable to adverse developments affecting them. (p.31)
- The company proposes to utilize approximately 52.38% of the Gross Proceeds of the Issue towards the acquisition of K-12 Entities and Campuses from fellow subsidiaries of its Promoters. (p.32)
- Revenues are concentrated in the northern and southern regions of India, increasing vulnerability to regional risks. (p.33)
- Delays in payment of lease rentals by K-12 Operators or monthly management fees by HEIs may adversely affect cash flows. (p.33)
Elevate Campuses Limited market and competition
ECL is the largest institutionalized and independent education platform engaged in owning, operating and managing on-campus student accommodation across HEIs and owning K-12 Assets in India by student capacity as of June 15, 2026. It is the largest player in terms of owning K-12 schools in India, approximately double the size of the next largest institutional property owner from India.
Elevate Campuses Limited outlook, as the document states it
The company's next phase of growth is centered on expanding its portfolio by increasing the number of student accommodation beds and enhancing the capacity of its student accommodation assets, as well as pursuing strategic acquisitions of additional K-12 Assets. It plans to achieve this through a balanced mix of acquisition of student accommodation and K-12 Assets across key cities in India, further strengthening its presence in these markets.
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Elevate Campuses Limited IPO: common questions
What is the Elevate Campuses Limited IPO GMP (grey-market premium) today?
As of 23 Sep 2026 the indicative grey-market premium (GMP) for the Elevate Campuses Limited IPO is +2.2% from a single grey-market source. GMP is unregulated and self-reported, so treat it as a sentiment signal, never a guarantee. For context, across the 29 IPOs we have tracked from a pre-listing GMP quote through to the actual listing, grey-market premium pointed the right way 79% of the time. Never decide on GMP alone.
When does the Elevate Campuses Limited IPO open and close?
The Elevate Campuses Limited IPO is open from 23 Sep 2026 to 25 Sep 2026.
What is the Elevate Campuses Limited IPO price band?
The price band is ₹343–₹362 per share.
What is the lot size and minimum investment for the Elevate Campuses Limited IPO?
One lot is 41 shares, and a retail application must be at least one lot. That is about ₹14,842 at the upper end of the band. An HNI application starts above Rs 2 lakh, so the minimum is higher for that category.
When are the Elevate Campuses Limited IPO allotment and listing dates?
Not published yet. Derived from the close date on the usual timetable: allotment around 28 Sep 2026, refund/unblock around 29 Sep 2026 and listing around 30 Sep 2026. Treat these as estimates until the exchange confirms them.
How do I apply for the Elevate Campuses Limited IPO?
Through any broker app or your bank's net banking, using a demat account and a PAN. You bid in lots at a price inside the band, or at cut-off. The money is blocked in your account, not debited, until allotment. One application per PAN. We do not recommend brokers and carry no broker links. How to apply, start to finish →
Sources & method
Subscription and issue data come from the NSE and BSE exchange feeds, with the third-party aggregator, clearly labelled, where an exchange feed is unreachable. DRHP analysis is extracted from the offer document itself, every figure cited to its page. Each figure on the page carries its source and its timestamp.
Grey-market premium (GMP) is unregulated.
Every GMP figure is a self-reported grey-market estimate. No exchange, regulator or clearing body records or audits it, and there is no settlement guarantee or recourse. Shown for context only; never decide on GMP alone. New to GMP? The 30-second explainer → Has GMP actually been right? →
How often do these actually open above the issue price?
Of the 519 mainboard IPOs that have listed on the NSE since 2003, 369 (71%) opened above their issue price, at a median of +10%. That is the segment's own record, not a forecast for this issue.