Elevate Campuses is all set to launch its initial public offering (IPO) worth Rs 2,100 crore on Sept. 23. Elevate Campuses Ltd., incorporated in 2005, owns, operates, and manages student accommodation for higher education institutions and K-12 school assets.
Ahead of the public issue launch, the latest grey market premium (GMP) is in focus, implying a 3.87% listing gain over the IPO's upper price band.
Here's everything you need to know about the Elevate Campuses IPO.
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Elevate Campuses IPO GMP Today
The latest GMP of Elevate Campuses IPO stood at Rs 14 as of Sept. 22 at 11:00 a.m. With the IPO's upper price band set at Rs 362, the GMP implies an estimated listing price of Rs 376 (upper price band + GMP), or a 3.87% gain over the upper band.
Note: GMP does not represent official data and is based on speculation.
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Elevate Campuses IPO Key Details
Elevate Campuses IPO is a book build issue of Rs 2,100.00 crore, entirely a fresh issue of 5.80 crore shares. Elevate Campuses IPO price band has been set at Rs 343 to Rs 362 per share. The lot size for an application is 41 shares. The minimum amount of investment required by an individual investor (retail) is Rs 14,842 (41 shares) (based on upper price).
JM Financial Ltd. is the book running lead manager and Kfin Technologies Ltd. is the registrar of the issue.
The IPO will remain open for subscription from Sept. 23 to Sept. 25. The allotment for the Elevate Campuses IPO is expected to be finalised on Sept. 28. The credit of shares to successful applicants is expected to happen on Sept. 29. The refund will also be processed on the same day.
Its tentative listing date on NSE and BSE has been fixed as Sept. 30.
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Elevate Campuses IPO Use of Proceeds
- Payment of the purchase consideration for the acquisition of the K-12 entities and campuses.
- Repayment and/or prepayment of certain outstanding borrowings
- Funding inorganic growth through unidentified acquisitions
- General corporate purposes
Elevate Campuses Business
Incorporated in 2005, Elevate Campuses Ltd. operates student accommodation under Good Host Spaces and ScholarZ, serving higher education institutions. As of March 2026, its Pre-Acquisition Group had a capacity of 80,255 students across 15 Indian cities and one UAE city, including owned and managed campuses.
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Elevate Campuses Financials
Elevate Campuses Ltd.'s revenue increased by 53% and profit after tax (PAT) rose by 249% between the financial year ending with March 31, 2026 and March 31, 2025. For FY26, Elevate Campuses Ltd. reported total income rising to Rs 603.39 crore from Rs 394.13 crore in FY25. Profit after tax increased substantially to Rs 173.76 crore from Rs 49.74 crore. EBIDTA also more than doubled, reaching Rs 545 crore compared with Rs 256.4 crore previously.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.
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