Elevate Campuses Ltd Closed IPO - Check Latest List of Closed IPO | Jainam
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Elevate Campuses Ltd

Elevate Campuses Ltd
ELEVATE Elevate Campuses Ltd

BSE IPO

Bidding dates23 Sep 2026 - 25 Sep 2026

Price range₹343 - ₹362

Min. investment₹14,842

Issue size2100 Cr

Lot size41 Shares

IPO DocRHP

IPO Timeline

Start date

23 Sep 2026

End date

25 Sep 2026

Allotment date

28 Sep 2026

Refund initiation

29 Sep 2026

Share credit

29 Sep 2026

Deactivate mandate

30 Sep 2026

About company

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.

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. Its portfolio included seven owned student accommodation campuses with 20,368 beds across six Indian cities and 14 managed campuses with 55,487 beds.

The Company provides operational services covering deal sourcing, site selection, development, asset acquisition, asset repositioning and community engagement. It also provides community and campus technology services, including media coverage of HEIs and community events.

The Company works with educational institutions including Manipal Academy of Higher Education, Manipal University, Jaipur and Meraki Education. As of March 31, 2026, its 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.

As of the same date, it had 460 full-time employees in its Pre-Acquisition Group.

Founded in 2005

Managing director Narasimha Jayakumar

Parent organisation Elevate Campuses IPO

Strengths and Risks

Strengths

Elevate Campuses is India's largest institutionalized and independent player focused on on-campus student accommodation and campus infrastructure solutions.

The business leverages a mix of owned campuses (offering capital appreciation and high asset backing) and managed campuses, maximizing operational scalability.

The company has demonstrated sharp revenue and profitability expansion, with total income climbing to ?603.39 crore and a PAT of ?173.76 crore for the period ending March 2026, supported by high operating margins.

Risks

A major chunk of operating revenue historically stems from just a small handful of large HEIs and university partners. Losing or failing to renew an agreement with a major partner could significantly impact operations.

Nearly all revenue is tied directly to the student accommodation and campus asset sectors. Any systemic drop in student enrollment or occupancy rates impacts cash flow immediately.

Capital-intensive asset ownership requires continuous funding; total borrowings are elevated, and maintaining aggressive expansion or greenfield development exposes the company to execution and interest rate risks.

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