Elevate Campuses
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Elevate Campuses's has transitioned to a publicly listed entity following its IPO debut on Sep 30, 2026 at the NSE, BSE exchange. The public offering successfully raised 5,80,11,049 Shares, consisting of 5,80,11,049 Sharesin new capital.
The IPO featured a competitive price range of ₹343 to ₹362 and minimum application size of 41 shares. Market reception was evidenced through subscription activity between Sep 23, 2026 and Sep 25, 2026, reflecting investor appetite for the offering.
Allotment of shares was completed on Sep 28, 2026, distributing equity to successful applicants. The listing marked the beginning of the company's journey as a publicly traded corporation, subject to market dynamics and regulatory oversight.
Investors can bid starting from the minimum lot size specified for this IPO, and only in multiples of that lot size. The table below shows the minimum and maximum investment for retail investors and HNIs in terms of lots, quantity, and amount.
Elevate Campuses Limited is an education-infrastructure platform that owns, operates and manages student accommodation across higher-education institutions in India and also owns K-12 education assets. Its student accommodation business operates under the Good Host Spaces and ScholarZ brands. As of March 2026, the company had seven owned student-accommodation campuses with 20,368 beds across six Indian cities, along with two K-12 assets in Dubai. Its managed portfolio included 14 additional campuses with 55,487 beds, giving the overall platform capacity to cater to around 80,255 students across 15 Indian cities and one UAE city.
Note : "Calculations for ‘Shares Offered’ and ‘Total Amount’ are based on the highest price in the issue price band."
Large Student Accommodation Platform: The company has a significant owned and managed bed capacity, giving it a strong position in India's organised student-housing market.
Diversified Education Assets: Along with student accommodation, the company owns K-12 education assets in Dubai, providing exposure to multiple segments within education infrastructure.
Strong Profit Growth: Total income increased from ₹369.81 Cr in FY25 to ₹568.63 Cr in FY26, while total profit increased from ₹49.74 Cr to ₹173.76 Cr during the same period.
High Debt Exposure: The company's FY26 debt-to-equity ratio was around 4.98x, indicating relatively high financial leverage and sensitivity to interest costs.
Real Estate & Occupancy Risk: Student accommodation depends on occupancy levels, student enrolment and the ability to acquire suitable campuses. Lower occupancy or delays in expansion can affect revenue and profitability.
Large IPO Proceeds Used for Acquisitions & Debt: A significant portion of the IPO proceeds is intended for acquiring K-12 entities/campuses and repaying or prepaying borrowings, making successful integration and debt reduction important for future performance.
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