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Elevate Campuses IPO
📅 Founded: 2005
📍 Mumbai, Maharashtra
👥 460 employees
🌐 elevatecampuses.com
📋 Face Value: ₹1
🏦 Market Cap: ₹6,101 Cr
Price Band
₹343 – ₹362
Issue Size
₹2,100 Cr
Lot Size
41 shares
Min. Investment
₹14,842
GMP
+₹2 (+0.6%)
Est. Return
+0.6%
Listing Date
30 Sep 2026
Registrar
KFin Technologies
Elevate Campuses IPO at a glance
Elevate Campuses IPO was a mainboard issue of ₹2,100 Cr at a price band of ₹343 – ₹362 per share, open from 23 Sep 2026 to 25 Sep 2026. It was subscribed 0.24 times overall (QIB 0.19x, NII 0.27x, retail 0.23x). The shares listed on BSE, NSE on 30 Sep 2026.
IPO Signal Analysis
📊 Based on Grey Market Premium (GMP) & Subscription Data — not financial advice
GMP Signal
Moderate Interest
GMP: +0.6% above issue price
⭐ Overall Signal
Moderate Interest
GMP + Subscription combined
Not financial advice
Not financial advice
Subscription Signal
Moderate Interest
0.24x subscribed
Issue Details
Fresh Issue₹2,100 Cr
Offer for Sale (OFS)Nil
Total Issue Size₹2,100 Cr
Face Value₹1
Market Cap (at issue)₹6,101 Cr
Listing ExchangeBSE, NSE
📅 Open Date23 Sep 2026
🔒 Close Date25 Sep 2026
✂️ Cut-off Price Date25 Sep 2026
🎟️ Allotment Date28 Sep 2026
💸 Refund Initiation29 Sep 2026
📂 Demat Credit29 Sep 2026
📈 Listing Date30 Sep 2026
Objects of the Issue
- 💰 Acquisition of K-12 school campuses — ₹1,100 Cr
- 💰 Repayment of borrowings — ₹750 Cr
- 💰 Inorganic growth and general corporate purposes
About the Company
Elevate Campuses, based in Mumbai, builds and runs student housing on the campuses of universities and schools. It operates under the Good Host Spaces and ScholarZ brands in several Indian cities and in the UAE.
Strengths
- ✅ Large student-housing platform with about 80,000 beds across 15 Indian cities and the UAE
- ✅ Operates under the Good Host Spaces and ScholarZ brands, with university partners such as Manipal (MAHE)
- ✅ Adding K-12 school campuses widens the business
Risk Factors
- ⚠️ Very high debt — borrowings were over four times net worth before the IPO
- ⚠️ A large part of FY26 profit growth may come from one-off or non-operating items
- ⚠️ Acquisition-led growth carries integration risk
- ⚠️ Occupancy and rental rates depend on student demand
Subscription Status
0.24x Overall
QIB: 0.2x
NII: 0.3x
RII: 0.2x
GMP Trend
Day-wise Subscription
| Day | QIB | NII | RII | Overall |
|---|---|---|---|---|
| Day 1 | — | — | — | 0.00x |
| Day 2 | — | — | — | 0.00x |
| Day 3 | — | — | — | 0.00x |
Share Reservation
QIB
50%
NII
15%
RII
35%
Allocation as per SEBI regulations for Mainboard IPO
Anchor Investors
Anchor allotment details not yet available.
Promoter Holding
100%
Pre-IPO
→ -34.4%
65.58%
Post-IPO
Founders & Leadership
GL
Genius Bidco Holdings Pte. Ltd.
Promoter
Corporate promoter entity
GL
Genius Rajkot Investment Holdings Pte. Ltd.
Promoter
Corporate promoter entity
IPO Timeline
✓
Open Date
23 Sep 2026
✓
Close Date
25 Sep 2026
✓
Allotment Date
28 Sep 2026
✓
Listing Date
30 Sep 2026
Key Financials
Revenue₹603.39 Cr
PAT₹173.76 Cr
EPS₹10.31
P/E Ratio35.11x
ROE18.17%
Market Cap₹6,101 Cr
Company Financials (Restated Consolidated)
| Period Ended | FY26 | FY25 | FY24 |
|---|---|---|---|
| Total Income | 603.39 | 394.13 | 362.61 |
| Profit After Tax | 173.76 | 49.74 | 39.69 |
| EBITDA | 545.00 | 256.40 | 220.13 |
| Net Worth | 956.29 | 699.78 | 655.77 |
| Total Borrowing | 4120.53 | 1206.60 | 984.71 |
Amount in ₹ Crore
Key Performance Indicators (KPI)
| KPI | FY26 | FY25 |
|---|---|---|
| ROE (%) | 18.17 | 7.11 |
| EBITDA Margin (%) | 90.32 | 65.05 |
| Debt / Equity | 4.31 | 1.72 |
| Net Worth (Rs. Cr) | 956.29 | 699.78 |
| Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS | ₹10.31 | — |
| P/E (x) | 35.11x | — |
| ROE (%) | 18.17% | — |
| Promoter Holding | 100% | 65.58% |
| Market Cap | ₹6,101 Cr | |
IPO Registrar
Elevate Campuses IPO FAQs
Elevate Campuses IPO is a mainboard IPO with an issue size of ₹2,100 Cr at a price band of ₹343 – ₹362. Minimum lot size is 41 shares (minimum investment ~₹14,842). Opened on 23 Sep 2026 and closed on 25 Sep 2026. Listed on BSE, NSE. Registrar: KFin Technologies.