Elevate Campuses’ ₹2,100-crore IPO received 20% subscription on its first day of bidding, with the non-institutional investor portion attracting the highest demand among investor categories.
The initial public offering of student accommodation and K-12 education platform Elevate Campuses Ltd received bids for 67,94,110 shares against 3,36,73,468 shares available on the first day of bidding.
The non-institutional investor category was subscribed 30%, while qualified institutional buyers subscribed 18% of their allocated portion. Retail investors subscribed 13%.
The company raised ₹945 crore from anchor investors ahead of the public offering.
The ₹2,100-crore IPO consists entirely of a fresh issue of equity shares and has no offer-for-sale component. The issue will remain open until September 25, with a price band of ₹343–₹362 per share.
At the upper end of the price band, Elevate Campuses would be valued at more than ₹6,100 crore.
The company plans to use proceeds from the fresh issue to acquire K-12 entities and campuses, repay debt and fund general corporate requirements.
As of March 31, 2026, Elevate Campuses had seven owned student accommodation campuses with 20,368 beds and managed 14 campuses with 55,487 beds. It also had 18 schools across India and the UAE.
The company is expected to make its stock-market debut on September 30.
