ELEVATE CAMPUSES IPO
ELEVATE CAMPUSES is a MAINBOARD IPO with a current status of LISTED. The price band is 345 - 362. The issue opens on 23 SEP and closes on 25 SEP. The listing date is 30 SEP.
Price Band
345 - 362
Unofficial GMP
₹8
Lot Size
41 shares
Minimum Investment
₹₹14,842
ELEVATE CAMPUSES IPO GMP
The latest available GMP is ₹8. Grey Market Premium is unofficial, may change frequently and does not guarantee the listing price, listing gains or investment returns.
Estimated Listing Price
₹370.00
Estimated Gain
+2.2%
ELEVATE CAMPUSES IPO GMP History
16
20 SEP
16
21 SEP
5
22 SEP
12
23 SEP
5
24 SEP
3
25 SEP
5
26 SEP
8
29 SEP
ELEVATE CAMPUSES IPO Details
- IPO Type
- MAINBOARD
- Status
- LISTED
- Price Band
- 345 - 362
- Issue Type
- Book Build Issue
- Fresh Issue
- ₹2100.00 Cr
- Face Value
- 1
- Lot Size
- 41
- Minimum Investment
- ₹14,842
- Exchange
- BSE , NSE
- Registrar
- Kfin Technologies Ltd.
- Lead Managers
- JM Financial Ltd.
ELEVATE CAMPUSES IPO Dates
- Open Date
- 23 SEP
- Close Date
- 25 SEP
- Allotment Date
- 28 SEP
- Refund Date
- 29 SEP
- Demat Credit Date
- 29 SEP
- Listing Date
- 30 SEP
ELEVATE CAMPUSES IPO Subscription
- QIB
- 0.18x
- NII / HNI
- 0.33x
- Retail
- 0.23x
- Employee
- --
- Total Subscription
- 0.23x
ELEVATE CAMPUSES IPO Financials
Revenue
FY2026
₹569.00 Cr
+53.78% vs FY2025
PAT
FY2026
₹174.00 Cr
+249.82% vs FY2025
Total Assets
FY2026
₹5,773.00 Cr
+138.46% vs FY2025
| Particulars | FY2024 | FY2025 | FY2026 |
|---|---|---|---|
| Revenue | 347 | 370 | 569 |
| Net Profit | 39.69 | 49.74 | 174 |
| Total Assets | 2,105 | 2,421 | 5,773 |
ELEVATE CAMPUSES IPO Valuation
- Market Cap (Post IPO)
- ₹6100.82 Cr.
- EPS
- 15.72
- P/E Ratio
- 23.03
- Price to Book Value
- 1.14
- ROCE
- 6.42%
- RONW
- 18.17%
- Debt / Equity
- 4.98%
- PAT Margin
- 28.80%
- EBITDA Margin
- 90.32%
- Valuation
- EXPENSIVE
ELEVATE CAMPUSES IPO Market Lot
| Category | Lots | Shares | Investment |
|---|---|---|---|
| Retail Minimum | 1 | 41 | ₹14,842 |
| Retail Maximum | 13 | 533 | ₹1,92,946 |
| Small HNI | 14 | 547 | ₹2,07,788 |
| Big HNI | 68 | 2,788 | ₹10,09,256 |
ELEVATE CAMPUSES IPO Reservation
- QIB
- 75%
- NII / HNI
- 15%
- Retail
- 10%
ELEVATE CAMPUSES Promoter Holding and Anchor Allocation
- Pre-IPO Promoter Holding
- 100%
- Post-IPO Promoter Holding
- 65.58%
ELEVATE CAMPUSES Company Overview
Elevate Campuses Limited, formerly known as Good Host Spaces Limited, is an institutional education infrastructure platform engaged in owning, operating and managing on-campus student accommodation for higher education institutions and owning K-12 education infrastructure assets. The company operates its student accommodation business primarily under the Good Host Spaces and ScholarZ brands. Its platform includes both owned and managed student accommodation assets as well as K-12 school infrastructure. The company has established operations across multiple cities in India and also has exposure to the UAE through its education infrastructure portfolio. Its business model combines long-term institutional relationships, ownership of education-related real estate assets and management of student accommodation facilities. The company caters to universities and educational institutions by providing accommodation and infrastructure designed specifically for students and educational operations.
ELEVATE CAMPUSES Business Model
Elevate Campuses operates an education infrastructure platform focused primarily on two segments: 1. Student Accommodation The company owns, operates and manages purpose-built student accommodation located primarily on or near higher-education institution campuses. It earns revenue through long-term arrangements with universities and educational institutions and provides accommodation-related infrastructure and services. 2. K-12 Education Infrastructure Elevate also owns infrastructure assets used by K-12 educational institutions. These assets expand the company's business beyond university student accommodation into school infrastructure. The company's portfolio consists of both owned assets and managed assets, enabling it to generate revenue from owned infrastructure as well as management arrangements. Its business therefore has characteristics of both an education-services platform and an infrastructure/real-estate business.
ELEVATE CAMPUSES Objects of the Issue
Acquisition of identified K-12 education infrastructure assets/entities ₹1,100 Crore Repayment/prepayment of certain outstanding borrowings ₹750 Crore Inorganic growth through unidentified acquisitions and General Corporate Purposes Balance Net Proceeds A major portion of the IPO proceeds will therefore be used for acquisitions and reduction of existing borrowings.
ELEVATE CAMPUSES Strengths
1. Large Education Infrastructure Platform Elevate Campuses has developed a sizeable institutional platform focused on student accommodation and K-12 education infrastructure. 2. Presence Across Multiple Locations The company operates across numerous cities in India and also has exposure to the UAE, providing geographical diversification within its education infrastructure portfolio. 3. Strong Revenue Growth Revenue increased significantly in FY2026, supported particularly by the addition of education infrastructure assets. Revenue increased from approximately ₹369.81 crore in FY2025 to ₹568.63 crore in FY2026, representing growth of approximately 53.76%. 4. Institutional Customer Relationships The company works with established higher-education institutions and educational operators. Long-term institutional relationships can provide greater revenue visibility than purely retail accommodation models. 5. Combination of Owned and Managed Assets Elevate operates through both owned and managed infrastructure. This allows the company to combine asset ownership with management-based operations. 6. Growing Student Accommodation Market Growth in higher education, increasing student mobility and demand for professionally managed accommodation can support the company's long-term addressable market. 7. IPO Proceeds Reduce Debt Approximately ₹750 crore of the IPO proceeds is proposed to be used for repayment/prepayment of borrowings, which could strengthen the post-IPO balance sheet.
ELEVATE CAMPUSES Risks
1. High Debt The company has substantial borrowings. Borrowings increased significantly as the business expanded and acquired additional assets. Approximately ₹750 crore of IPO proceeds is specifically earmarked for debt repayment/prepayment. Therefore: Debt Risk: HIGH 2. Acquisition-Related Risk A substantial ₹1,100 crore of IPO proceeds is proposed to acquire identified education infrastructure assets/entities. The success of these acquisitions will depend on integration, utilisation, operating performance and the company's ability to generate adequate returns from the acquired assets. 3. Related-Party Transaction Exposure Certain proposed acquisitions involve entities within the broader promoter/ownership ecosystem. Such transactions require investors to carefully assess pricing, governance and related-party considerations. 4. Customer Concentration A significant proportion of revenue is generated from major institutional customers. For FY2026, O.P. Jindal Global University accounted for approximately 36.97% of revenue, while Manipal University Jaipur accounted for approximately 20.54%. Loss or reduction of business from large customers could materially affect revenue. 5. Capital-Intensive Business Ownership of student accommodation and school infrastructure requires substantial capital investment. Expansion may therefore require additional debt or equity capital in the future. 6. Exceptional Gain Impact on Profit FY2026 profit includes an exceptional gain of approximately ₹104.92 crore. Therefore, headline PAT growth should not be interpreted as entirely arising from recurring operating performance. 7. Real Estate and Asset Utilisation Risk Returns depend partly on utilisation and occupancy of education infrastructure. Lower student intake or changes in institutional requirements can affect asset utilisation. 8. Valuation Risk At an IPO price band of ₹343–₹362, investors should consider the company's valuation together with high leverage, acquisition exposure, customer concentration and the exceptional gain included in FY2026 profitability. For IPOWEB classification: Valuation: EXPENSIVE 9. Geographic and Institutional Dependence The business is dependent on continued demand from higher education and K-12 institutions. Regulatory changes, changes in student enrolment or disruption at major partner institutions can affect operating performance.
ELEVATE CAMPUSES Frequently Asked Questions
What is the ELEVATE CAMPUSES IPO price band?
The ELEVATE CAMPUSES IPO price band is 345 - 362.
What is the latest ELEVATE CAMPUSES IPO GMP?
The latest available ELEVATE CAMPUSES IPO GMP in the IPOWEB database is ₹8. GMP is unofficial and does not guarantee a listing gain.
When does the ELEVATE CAMPUSES IPO open and close?
The ELEVATE CAMPUSES IPO opens on 23 SEP and closes on 25 SEP.
When is the ELEVATE CAMPUSES IPO allotment date?
The ELEVATE CAMPUSES IPO allotment date is 28 SEP.
When is the ELEVATE CAMPUSES IPO listing date?
The ELEVATE CAMPUSES IPO listing date is 30 SEP.
What is the ELEVATE CAMPUSES IPO subscription?
The latest total subscription available for the ELEVATE CAMPUSES IPO is 0.23x.