1 hr ago
Elevate Campuses Sets IPO Price Band at ₹343-362
Elevate Campuses runs student housing and some school-related facilities.
It plans to sell new shares to the public through an IPO.
The shares will cost between ₹343 and ₹362 each.
The company hopes to raise ₹2,100 crore.
People can start applying for the shares on September 23.
The money may be used to buy education assets and repay some loans.
The company says it collects hostel fees at the beginning of the school year, giving it negative working capital.
It serves more than 80,000 students in India and the United Arab Emirates.
Its services include accommodation, laundry and meals.
Elevate Campuses plans to raise ₹2,100 crore through an initial public offering priced at ₹343-362 per share.
The IPO will consist entirely of a fresh issue of 5.80 crore shares, with no offer-for-sale component.
The subscription period is scheduled to open on September 23, with retail investors able to apply for at least 41 shares.
Proceeds will fund acquisitions of K-12 entities and campuses, debt repayment, unidentified acquisitions and other corporate purposes.
As of March 31, the company served 80,255 students across 15 Indian cities and one city in the United Arab Emirates.
- Who
- Elevate Campuses, which owns and manages student accommodation and K-12 education assets.
- What
- The company fixed a ₹343-362 price band for an IPO intended to raise ₹2,100 crore through a fresh issue of 5.80 crore shares.
- Where
- The company operates across 15 cities in India and one city in the United Arab Emirates.
- When
- The IPO is scheduled to open for subscription on September 23; the announcement was published on September 18, 2026.
- Why
- The proceeds are intended for K-12 acquisitions, partial repayment of borrowings, inorganic growth, strategic initiatives and general corporate purposes.
Key facts
- IPO size
- ₹2,100 crore
- Price band
- ₹343-362 per share
- Issue structure
- Fresh issue of 5.80 crore shares; no offer for sale
- Retail lot size
- 41 shares and multiples thereafter
- Subscription opening
- September 23
- Students served
- 80,255 as of March 31
- Portfolio
- Seven owned student-accommodation campuses with 20,368 beds and 14 managed campuses with 55,487 beds
- Lead managers
- IIFL Capital Services, Morgan Stanley India Company and JM Financial
Quotes
Vinod Rao
Chief Financial Officer of Elevate Campuses
“We provide 17 course meals to students and have a dedicated app to service their requirements”
thehindubusinessline.com
Sources
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