Elevate Campuses Files DRHP For IPO To Raise Rs 2,550 Crore In Fresh Issue

Elevate Campuses Ltd. on Monday filed its preliminary papers with the capital markets regulator SEBI to raise Rs 2,550 via an initial public offering. The public offer will include fresh issues of shares worth Rs 2,550 crore.

The equity shares are proposed to be listed on the National Stock Exchange of India Ltd and BSE Ltd. The company, in consultation with the BRLMS, may consider an issue of equity shares aggregating up to Rs 510 crore as pre-IPO placement. If the pre-IPO placement is completed, the amount raised under the pre-IPO placement will be reduced from the fresh issue.

JM Financial, IIFL Capital and Morgan Stanley are the book-running lead managers for the issue and Kfin Technologies Ltd. will be the registrar of the issue.

Proceeds from the fresh issue worth Rs 1,100 crore will be used for the acquisition of the K-12 Entities and Campuses in financial year 2026. While in fiscal 2027 Rs 750 crore will be used for repayment or prepayment of borrowings and prepayment penalties. Some of the funding will also go towards funding inorganic growth through unidentified acquisitions and other strategic initiatives.

The Mumbai-based company under 'Good Host Spaces' and ScholarZ' brand manages on-campus student accommodations across Higher Education Institutions and owns K-12 assets. As of Aug. 31,2025, the company catered to 94,758 students and were present across 20 cities in India and a city in United Arab Emirates.

The company also collaborates with leading educational institutions known for their academic outcomes, accreditations, faculty credentials, research contributions and placement records.

The revenue from operations in fiscal 2025 rose 6.6% to Rs 369.81 crore in comparison to Rs 347 crore. The profit for the financial year 2025 nearly rose 32.7% to Rs 52.65 crore from Rs 39.69 crore reported in financial year ended March 2024.