Elevate Campuses IPO Price: ₹343 to ₹362 per share
IPO Dates: 23 to 25 Sept, 2026
Company Overview
Incorporated in 2005, Elevate Campuses Ltd. is an education infrastructure company engaged in owning, operating and managing on-campus student accommodation for higher education institutions (HEIs) and owning K-12 school assets. The Company operates its student accommodation business under the Good Host Spaces and ScholarZ brands.
Business Operations
The Company’s student accommodation business covers the ownership, operation and management of on-campus accommodation for students of higher education institutions. Its operational services include deal sourcing, site selection, development, asset acquisition, asset repositioning and community engagement.
The Company also provides community and campus technology services, including media coverage of HEIs and community events.
Student Accommodation Portfolio
As of March 31, 2026, the Company’s Pre-Acquisition Group had a student accommodation capacity of 80,255 students across 15 cities in India and one city in the United Arab Emirates.
The portfolio included seven owned student accommodation campuses with 20,368 beds across six Indian cities and 14 managed campuses with 55,487 beds.
Institutional Relationships
The Company works with educational institutions including Manipal Academy of Higher Education, Manipal University, Jaipur and Meraki Education.
Occupancy & Portfolio Growth
As of March 31, 2026, the Company’s owned student accommodation portfolio recorded an occupancy rate of 89.37% for the Academic Year 2025-26.
Since commencing operations as an independent owner and operator of student accommodation in Financial Year 2018, the Company has expanded its owned student accommodation portfolio from 9,153 beds to 20,368 beds as of March 31, 2026.
Workforce
As of March 31, 2026, the Company had 460 full-time employees in its Pre-Acquisition Group.
Bidding Starts In
Elevate Campuses Limited IPO Specifics:
| IPO Date | 23 to 25 Sep, 2026 |
| Listing Date | Wed, Sep 30, 2026T |
| Face Value | ₹1 per share |
| Price Band | ₹343 to ₹362 |
| Lot Size | 41 Shares |
| Sale Type | Fresh capital only |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 5,80,11,049 shares (agg. up to ₹2,100 Cr) |
| Fresh Issue | 5,80,11,049 shares (agg. up to ₹2,100 Cr) |
| Share Holding Pre Issue | 11,05,19,988 shares |
| Share Holding Post Issue | 16,85,31,037 shares |
Elevate Campuses IPO Timetable (Important Dates)
| Event | Date |
|---|---|
| IPO Open | Wed, Sep 23, 2026 |
| IPO Close | Fri, Sep 25, 2026 |
| Allotment | Mon, Sep 28, 2026 |
| Refund | Tue, Sep 29, 2026 |
| Credit of Shares | Tue, Sep 29, 2026 |
| Listing | Wed, Sep 30, 2026 |
Elevate Campuses Limited IPO Lot Size
Bidders have the opportunity to bid for a minimum of 41 shares, with the option to increase in multiples. The table below outlines the minimum and maximum investment thresholds for both retail investors and High Net Worth Individuals (HNIs), specifying the corresponding number of shares and amounts involved.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 41 | ₹14,842 |
| Retail (Max) | 13 | 533 | ₹1,92,946 |
| S-HNI (Min) | 14 | 574 | ₹2,07,788 |
| S-HNI (Max) | 67 | 2747 | ₹9,94,414 |
| B-HNI (Min) | 68 | 2788 | ₹10,09,256 |
Elevate Campuses Limited IPO Reservation
| Investor Category | Shares |
|---|---|
| QIB | Not less than 75% of the Issue |
| Retail | Not more than 10% of the Issue |
| NII | Not more than 15% of the Issue |
Elevate Campuses Limited IPO Financial Information
| Particulars (₹ Cr) | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 5,773.35 | 2,421.20 | 2,104.74 |
| 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 |
| Reserves and Surplus | 947.45 | 697.57 | 653.56 |
| Total Borrowing | 4,120.53 | 1,206.60 | 984.71 |
Key Performance Indicator- Elevate Campuses Limited IPO
| KPI | Mar 31, 2026 | Mar 31, 2025 |
|---|---|---|
| ROCE | 6.42% | 9.90% |
| Debt/Equity | 4.98 | 2.71 |
| RoNW | 18.17% | 7.11% |
| PAT Margin | 28.80% | 12.62% |
| EBITDA Margin | 90.32% | 65.06% |
| NAV | 432.62 | 316.58 |
| Price to Book Value | – | 1.14 |
| Valuation Metric | Pre IPO | Post IPO |
|---|---|---|
| EPS (₹) | 15.72 | 10.31 |
| P/E (x) | 23.03 | 35.11 |
| Market Cap at Offer Price | ₹4,000.82 Cr. | ₹6,100.82 Cr. |
Prospectus Links:
Prospectus: Official documents that provide detailed information about the IPO and the company.
Elevate Campuses Limited IPO DRHP
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