Elevate Campuses Limited
Bookbuilding IPO · NSE, BSE
- Price band
- ₹343 - ₹362
- Lot size
- 41 shares
- Issue amount
- ₹2,100 cr
- Total subscription
- 1.89×
- Opens
- 23 Sept 2026
- Closes
- 25 Sept 2026
- Allotment
- 28 Sept 2026
- Listing
- 30 Sept 2026
Offer at a glance
Issue overview
- Issue size
- 5,80,11,049 shares
- Face value
- ₹1 Per Share
- Minimum investment
- ₹14,063
- Fresh issue
- ₹2,100 cr
- Offer for sale
- ₹0 cr
- Registrar
- Kfin Technologies Limited
- Listing exchange
- NSE, BSE
- Maximum investment
- ₹14,842
- Issue type
- Bookbuilding IPO
- Shares before issue
- 11,05,19,988
- Shares after issue
- 16,85,31,037
Lot sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| RETAIL | 1 | 41 | ₹14,842 |
| sHNI | 14 | 574 | ₹2,07,788 |
| bHNI | 68 | 2,788 | ₹10,09,256 |
Share reservation
Subscription & GMP
Subscription by category
Reported 25 Sept 2026
GMP history
Day-wise demand
Application-wise demand
| Category | Reserved applications | Applied applications |
|---|---|---|
| RETAIL | 1,41,490 | 77,018 |
| HNIs(10L +) | 10,106 | 680 |
| HNIs (2-10L) | 5,053 | 3,342 |
Subscription demand
Amounts in ₹ crore. HNI subcategories are included in the NII total.
| Category | Offered | Demand |
|---|---|---|
| QIBs | 630 | 1,676.66 |
| RETAIL | 210 | 224.42 |
| NIB | 315 | 270.13 |
| HNIs 2+ | 105 | 97.46 |
| HNIs 10+ | 210 | 183.22 |
| HNIs | 315 | 280.68 |
Financial performance
Company financials
In Crores · Reported periods may include interim results.
Key performance indicators
| Metric | Mar-26 | Mar-25 | Mar-24 |
|---|---|---|---|
| EPS | 19.65 | 5.63 | 4.49 |
| ROE | 0 | 0 | 0 |
| ROCE | 6.42 | 9.9 | 9.72 |
| RONW | 18.17 | 7.11 | 6.05 |
| PRE IPO(PE) | 23.03 | 0 | 0 |
| POST IPO(PE) | 35.11 | 0 | 0 |
Values and labels as reported in the issue data.
Company information
Company profile
Incorporated in 2005, Elevate Campuses Ltd. owns, operates, and manages on-campus student accommodation for higher education institutions and K-12 assets, with a capacity of nearly 95,000 students across multiple cities in India and one in the UAE, operating under brands like Good Host Spaces and ScholarZ. The company has both owned and managed portfolios, including student housing campuses and K-12 assets, while also offering services like campus technology, media coverage, and community event management. It partners with leading institutions and uses its integrated platform to support students throughout their academic journey, and in recent years has significantly expanded its capacity, city presence, and institutional reach through new developments and acquisitions, supported by a team of nearly 400 employees.
Strengths
- Leading Institutionalised Education Platform: Elevate is among India’s large independent education platforms and has established relationships with reputed education groups. These relationships support the expansion of its education infrastructure and student accommodation portfolio.
- Strong Operational & Asset Management Capabilities: The company has developed strong operational and asset management expertise across its education-focused portfolio. This helps in efficiently managing student accommodation assets and institutional relationships.
- Focus on Student Experience & Well-Being: Elevate focuses on providing a positive student experience and supporting student well-being. Its accommodation and related services aim to provide students with a more complete campus living experience.
Risk factors
- Dependence on Student Occupancy: The group generated 100% of its revenue from operations from student accommodation during the last three Financial Years. Any decline or difficulty in maintaining healthy occupancy levels could negatively impact revenue, cash flows and overall financial performance.
- High Dependence on Key HEIs: The group generated 89.00%, 88.60% and 87.50% of operating revenue from its three largest higher education institutions (HEIs) in FY2025, FY2024 and FY2023, respectively. Any adverse changes affecting these key institutions could significantly impact financial performance.
- Regional Concentration: The group generated 100% of its operating revenue from HEIs and student accommodation assets located in the northern and southern regions of India during the last three Financial Years. Any regional disruption or adverse development could affect business operations, cash flows and financial performance.
Promoters
Genius Bidco Holdings Pte. Ltd.
Genius Rajkot Investment Holdings Pte. Ltd.
Registrar & documents
Lead manager
Jm Financial Limited, IIFL Capital Services Limited, Morgan Stanley India Company Private Limited
Registrar & contacts
Kfin Technologies Limited
[email protected]Official registrar portal ↗IPO allotment status guide →Registered office
Naman Midtown, Unit No 902-906 9 th Floor, Tower B, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra, 400013
+91 22 6820 1600
[email protected]Company website ↗Understanding ELEVATE IPO data
Compare the price band and required investment with the company profile, financial results and offer documents. Subscription figures show reported demand by category; they do not establish the value of the business. GMP is an unofficial indication and can change before listing.