Elevate Campuses shares are set to list on the NSE and BSE today, Sept. 30. Ahead of its listing, Elevate Campuses IPO's latest GMP of Rs 6.5 indicates a GMP-implied listing premium of 1.80% over the upper price band of Rs 362.
Note: GMP does not represent official data and is based on speculation.
Elevate Campuses IPO GMP, Expected Listing Price
Based on the latest GMP of Rs 6.5 and the upper price band of Rs 362, the estimated Elevate Campuses IPO listing price is Rs 368.5 per share. This implies a potential listing premium of 1.8% over the issue price.
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Elevate Campuses IPO Overall Subscription Status
The initial public offering (IPO) of Elevate Campuses was subscribed 1.79 times by the third and final day of bidding on Sept. 25. The IPO received bids for 6,02,86,769 shares against 3,36,73,468 offered.
Qualified Institutional Buyers (QIBs) subscribed their quota 2.52 times. The Non-Institutional Investors (NIIs) category was subscribed 0.84 times. Retail investors' subscription stood at 1.01 times.
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Elevate Campuses IPO Allotment Status
The share allotment status for Elevate Campuses IPO was finalised on Sept. 28, 2026.
Elevate Campuses IPO Details
The Elevate Campuses IPO comprises:
Fresh issue: 5.80 crore equity shares worth Rs 2,100 crore
Offer for Sale (OFS): Nil
The total issue size stands at Rs 2,100 crore. The price band was fixed at Rs 343–Rs 362 per share. The minimum bid size for retail investors is 41 shares, requiring an investment of Rs 14,842 at the upper end of the price band.
JM Financial Ltd., IIFL Capital Services Ltd. and Morgan Stanley India Company Pvt. Ltd. are the book-running lead managers, while KFin Technologies Ltd. is the registrar to the issue.
Elevate Campuses IPO: Use Of Proceeds
The company plans to utilise the net proceeds from the fresh issue primarily towards:
Payment of the purchase consideration for the acquisition of the K-12 Entities and Campuses (Rs 1,100 crore).
Repayment and/or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable, availed by the company and certain of its subsidiaries, through investment in such subsidiaries (Rs 750 crore).
Funding inorganic growth through unidentified acquisitions, other strategic initiatives, and general corporate purposes (Rs 129.61 crore).
Elevate Campuses Business
Incorporated in 2005, Elevate Campuses Ltd. operates in the education infrastructure space, with a focus on student housing and school properties. Its business includes developing and managing on-campus accommodation for higher education institutions (HEIs), alongside owning assets serving the K-12 education segment. The company runs its student accommodation operations through the Good Host Spaces and ScholarZ brands.
Disclaimer: Investments in IPOs are subject to market risks. Investors should read the red herring prospectus carefully and consult a financial adviser before making investment decisions.
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