EC
Elevate Campuses Limited IPO
Education Infrastructure · Student Accommodation · Good Host Spaces · Mumbai, Maharashtra
📋 Mainboard IPO
Fresh Issue
BSE, NSE
₹362
Upper Price
₹2,100.00 Cr
Issue Size
Sep 30, 2026
Listing Date
₹6,100.82 Cr
Market Cap (Pre)
📅 IPO Timetable
All dates tentative🟢
IPO Opens
Wednesday, 23 September 2026
Bidding starts — apply before close
🔒
IPO Closes
Friday, 25 September 2026
Last day to bid — closes at 5:00 PM IST
📊
Basis of Allotment
Monday, 28 September 2026
Allotment finalised by registrar
🔄
Refund & Share Credit
Tuesday, 29 September 2026
Unallotted funds returned; shares credited to demat
🏷️
Wednesday, 30 September 2026
Trading begins from 10:00 AM IST
📋 IPO Details
IPO Open Date23 September 2026 (Wed)
IPO Close Date25 September 2026 (Fri)
Listing Date30 September 2026 (Wed)
Face Value₹1 per share
Price Band₹343 to ₹362
Issue Price (Upper Band)₹362 per share
Issue TypeBookbuilding IPO
Lot Size41 shares
Total Issue Size5,80,11,049 shares (₹2,100.00 Cr)
Fresh Issue5,80,11,049 shares (₹2,100.00 Cr)
Offer for Sale (OFS)Nil
Pre-Issue Shares11,05,19,988
Post-Issue Shares16,85,31,037
Promoter Holding (Pre)100%
Market Cap (Pre-IPO)₹4,000.82 Cr
Listing ExchangeBSE, NSE
Lead ManagerJM Financial Ltd., IIFL Capital Services Ltd., Morgan Stanley India Co.Pvt.Ltd.
RegistrarKfin Technologies Ltd.
💰 Lot Size & Minimum Investment
At upper price ₹362| Investor Type | Lots | Shares | Amount |
|---|---|---|---|
| Individual (Retail) — Min | 1 | 41 | ₹14,842 |
| Individual (Retail) — Max | 13 | 533 | ₹1,92,946 |
| S-HNI (sNII) — Min | 14 | 574 | ₹2,07,788 |
| S-HNI (sNII) — Max | 67 | 2,747 | ₹9,94,414 |
| B-HNI (bNII) — Min | 68 | 2,788 | ₹10,09,256 |
⚠️ Note: Investors can bid for a minimum of 41 shares and in multiples thereof.
👥 Investor Reservation
Allocated portion of Net OfferNot less than 75%
QIB Portion
Not more than 10%
Retail Portion
Not more than 15%
NII Portion
📊 Subscription Status
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📈 Company Financials
Restated Consolidated · ₹ Crore| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 5,773.35 | 2,421.20 | 2,104.74 |
| Total Income | 603.39 | 394.13 | 362.61 |
| PAT | 173.76 | 49.74 | 39.69 |
| EBITDA | 545.00 | 256.40 | 220.13 |
| Net Worth | 956.29 | 699.78 | 655.77 |
| Reserves & Surplus | 947.45 | 697.57 | 653.56 |
| Total Borrowing | 4,120.53 | 1,206.60 | 984.71 |
Income Trend
FY 2023–24₹362.61 Cr
FY 2024–25₹394.13 Cr
FY 2025–26₹603.39 Cr
🎯 Key Performance Indicators
6.42%
ROCE
Mar 31, 2026
4.98
Debt/Equity
Mar 31, 2026
28.80%
PAT Margin
Mar 31, 2026
90.32%
EBITDA Margin
Mar 31, 2026
18.17%
RoNW
Mar 31, 2026
1.14x
Price/Book
Mar 31, 2026
432.62
NAV
Mar 31, 2026
⚖️ Valuation & EPS
Pre-IPO EPS
₹15.72
Based on pre-issue shares
P/E: 23.03xPost-IPO EPS
₹10.31
Based on post-issue shares
P/E: 35.11xPrice to Book Value
1.14x
At upper price band ₹362
Market Cap (Pre-IPO)
₹4,000.82 Cr
At issue price ₹362
ℹ️
Pre-IPO EPS (₹15.72) is based on pre-issue shares (11,05,19,988) and applicable earnings. Post-IPO EPS (₹10.31) accounts for the dilution resulting from the issuance of 5,80,11,049 fresh equity shares extending the total post-issue equity to 16,85,31,037 shares. Post-IPO Market Cap expands to ₹6,100.82 Cr at the upper issue price of ₹362.
🎯 Objects of the Issue
Net proceeds utilisation1
Payment of the purchase consideration for the acquisition of the K-12 Entities and Campuses
₹1,100.00 Cr
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 Cr
3
Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes
Balance
Total Net Proceeds Goal
₹1,850.00 Cr
🏢 About Elevate Campuses Ltd.
Est. 2005 · Mumbai, Maharashtra · Education InfrastructureElevate Campuses Ltd., incorporated in 2005, operates as a specialized education infrastructure company focused on owning, operating, and managing on-campus student accommodation for higher education institutions (HEIs) and K-12 school assets. The enterprise actively operates its student accommodation division under the highly recognized ‘Good Host Spaces’ and ‘ScholarZ’ brand identities. The business manages a vast portfolio designed to elevate student living standards across premier educational facilities.
As of March 31, 2026, the company’s Pre-Acquisition Group commanded an impressive student accommodation capacity of 80,255 students distributed across 15 cities in India and one city in the United Arab Emirates. Its comprehensive portfolio includes seven directly owned student accommodation campuses housing 20,368 beds across six Indian cities, seamlessly partnered with 14 managed campuses supplying an additional 55,487 beds. Delivering full-scale operational services encompassing deal sourcing, site selection, asset acquisition, and community engagement, the company currently maintains an impressive occupancy rate of 89.37%. The firm is supported by a dedicated workforce of 460 full-time employees in its Pre-Acquisition Group.
Brand Ecosystem
🏢
Good Host Spaces & ScholarZ
Operating premier student accommodation and campus facilities under specialized branded platforms.
🛏️
Owned & Managed Assets
Commanding over 75,855 beds through a combination of 7 owned and 14 actively managed campuses.
📚
K-12 Infrastructure
Expanding the educational infrastructure footprint through strategic acquisition and development of K-12 school assets.
🌐
Strategic Partnerships
Collaborating with top-tier institutions like Manipal Academy of Higher Education and Meraki Education.
Competitive Strengths
🏆Robust geographic presence across 15 Indian cities and the UAE with high occupancy rates.
⚙️Comprehensive operational services covering site selection, repositioning, and integrated campus technology solutions.
📋Strong partnerships with leading higher education institutions to maintain stable and growing demand.
📈Demonstrated ability to aggressively scale owned accommodation capacities through calculated strategic investments.
Company Promoters
GB
Genius Bidco Holdings Pte.Ltd.
Promoter, Elevate Campuses Ltd.
GR
Genius Rajkot Investment Holdings Pte.Ltd.
Promoter, Elevate Campuses Ltd.
📅 Key Dates
IPO Opens23 Sep 2026
IPO Closes25 Sep 2026
Allotment28 Sep 2026
Refund & Share Credit29 Sep 2026
Listing Day30 Sep 2026
💡 Quick Summary
Price Band₹343 – ₹362
Upper Price₹362 / share
Lot Size41 shares
Min. Investment (Retail)₹14,842 (1 Lot)
Issue Size₹2,100.00 Cr
ListingBSE, NSE
🏦 Registrar & Lead Manager
Lead Manager
JM Financial Ltd., IIFL Capital Services Ltd., Morgan Stanley India Co.Pvt.Ltd.
📍 Registered Address
Elevate Campuses Ltd.
Naman Midtown, Unit No 902-906,
9th Floor, Tower B, Senapati Bapat Marg,
Lower Parel, Mumbai, Maharashtra — 400013
📞 +91 22 6820 1600
[email protected]
Naman Midtown, Unit No 902-906,
9th Floor, Tower B, Senapati Bapat Marg,
Lower Parel, Mumbai, Maharashtra — 400013
📞 +91 22 6820 1600
[email protected]
🛡️ Regulatory Note: IPO investments are subject to market risks and SEBI regulations. Always read the Prospectus/RHP before applying. Consult a SEBI-registered advisor before investing.
⚠️
Disclaimer: This page presents publicly available information from the Elevate Campuses IPO RHP for informational purposes only. This format is generated adhering to the required structure as specified in the IPO NEW FORMAT source file. It does not constitute investment advice. IPO investments are subject to market risk. Please read all offer documents and consult a SEBI-registered advisor before investing.
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