Public Issue Opens September 23 at ₹343–362 Price Band
Key Highlights
- Elevate Campuses will launch its ₹2,100 crore IPO on September 23.
- The IPO price band has been fixed at ₹343–362 per share.
- The three-day public issue will close on September 25, with listing expected on September 30.
- At the upper end of the price band, Elevate Campuses would be valued at over ₹6,100 crore.
- The IPO consists entirely of a fresh issue of equity shares, with no offer-for-sale component.
- Proceeds will be used to acquire K-12 entities and campuses, repay debt and meet general corporate requirements.
- 75% of the issue is allocated to qualified institutional buyers, 15% to non-institutional investors and 10% to retail investors.
- Elevate Campuses operates in student accommodation and K-12 education infrastructure.
Hillhouse Capital-backed Elevate Campuses Ltd is set to enter the primary market with a ₹2,100 crore initial public offering on September 23, as the student accommodation and K-12 education platform looks to raise capital for expansion and debt repayment.
The company has fixed a price band of ₹343 to ₹362 per share for the public issue. At the upper end of the price band, Elevate Campuses would be valued at more than ₹6,100 crore.
The three-day IPO will remain open until September 25, while the company’s shares are expected to be listed on September 30.
According to the Red Herring Prospectus, the ₹2,100 crore offering consists entirely of a fresh issue of equity shares. There is no offer-for-sale component, meaning the proceeds raised through the IPO will go to the company rather than existing shareholders selling their holdings.
Elevate Campuses plans to use the IPO proceeds for acquiring K-12 entities and campuses, repaying debt and meeting general corporate requirements.
The company owns, operates and manages on-campus student accommodation facilities across higher education institutions while also owning K-12 education assets.
Through its platform, Elevate Campuses provides educational institutions with integrated non-academic services covering areas such as student housing, dining, safety and campus operations. These services are designed to support institutions in creating and managing broader campus environments for students.
Under the IPO allocation structure, 75% of the issue has been reserved for Qualified Institutional Buyers (QIBs). Non-Institutional Investors (NIIs) have been allocated 15%, while the remaining 10% has been reserved for retail investors.
JM Financial, IIFL Capital Services and Morgan Stanley India Company are the book-running lead managers for the issue, while KFin Technologies is serving as the registrar.
The IPO will provide Elevate Campuses with fresh capital as it seeks to expand its presence across student accommodation and K-12 education infrastructure in India.
