The IPO is a book-built issue comprising an entirely fresh issue of 5.80 crore shares, aggregating to Rs 2,100 crore.
Anchor investor bidding will take place on September 22, while IPO allotment is expected to be finalised on September 28. The company proposes to list its shares on both the NSE and BSE, with the tentative listing date set for September 30, 2026.
JM Financial, IIFL Capital Services and Morgan Stanley India are the book-running lead managers, while Kfin Technologies is the registrar.
IPO Objects of the Issue
The company plans to use the Rs 1,850 crore net proceeds primarily to fund the Rs 1,100 crore acquisition of K-12 entities and campuses. This will support the company’s expansion through strategic acquisitions.
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Another Rs 750 crore will be used for the repayment and/or prepayment of certain outstanding borrowings, including applicable prepayment penalties, of the company and select subsidiaries. The remaining proceeds will be allocated towards unidentified acquisitions, other strategic initiatives and general corporate purposes.
Read more: NSE IPO Tracker: Catch all the highlights here
Financial Performance
Elevate Campuses Ltd. reported a 53% increase in total income, rising from Rs 394 crore in FY25 to Rs 603 crore in FY26, reflecting strong growth in revenue during the year. The company’s profit after tax (PAT) surged 249%, from Rs 50 crore in FY25 to Rs 174 crore in FY26, marking a significant improvement in profitability.
About Elevate Campuses Ltd.
Incorporated in 2005, Elevate Campuses Ltd. is an education infrastructure company that owns, operates and manages student accommodation for higher education institutions and K-12 school assets. Its student accommodation business operates 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 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 the Academic Year 2025-26.
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