Elevate Campuses IPO
Elevate Campuses, founded in 2005, is an education infrastructure firm that owns, operates, and manages on-campus student accommodation for higher education institutions (HEIs). The firm operates under two brands: Good Host Spaces and ScholarZ. Its product portfolio includes 7 owned student accommodation campuses with 20,368 beds across six Indian cities and 14 managed campuses with 55,487 beds.
IPO GMP
+₹7
+2% expected gain
Price Band
₹343 - ₹362
Lot Size
41 shares
Min Investment
₹14,842
Listing Date
September 30, 2026
About Elevate Campuses
Company overview, business, and key facts.
Elevate Campuses, founded in 2005, is an education infrastructure firm that owns, operates, and manages on-campus student accommodation for higher education institutions (HEIs). The firm operates under two brands: Good Host Spaces and ScholarZ. Its product portfolio includes 7 owned student accommodation campuses with 20,368 beds across six Indian cities and 14 managed campuses with 55,487 beds.
The firm helps businesses find deals, choose locations, develop and buy properties, improve existing properties, and work with local communities. Moreover, Elevate Campuses works with educational institutions, including Manipal Academy of Higher Education, Manipal University, Jaipur, and Meraki Education, to provide accommodation for higher education institutions (HEIs) and own K-12 school assets.
Founded
2005
Headquarters
Mumbai, Maharashtra
Promoters
Genius Bidco Holdings Pte
Website
https://www.elevatecampuses.com/
IPO Details
Subscription Status
How many times each investor category has bid for the issue.
Strengths & Risks
Strengths
- Largest Institutionalized Education Platform: Elevate stands out as one of the largest institutionalized and independent education platforms in India and is trusted by some of the leading education groups. The already existing connections will help in building up an extensive education infrastructure and accommodation facilities.
- Well-Established Operational & Asset Management Expertise: The firm has built a good operational expertise and asset management capability in its education-oriented portfolio. It helps in managing the student accommodation assets effectively and having good relations with the educational institutions.
- Student-Friendly Approach: There is a lot of importance given by Elevate in offering an excellent experience and well-being of the students. Its approach towards the accommodation and other student-related services leads to a complete campus experience.
Risks
- Dependency on Occupied Units: The group has earned 100% of its income from operations through the student accommodation business in the past three Financial Years. Any failure in maintaining the occupancy rate may have an adverse effect on its business, financial position, operations, and cash flows.
- Heavy Dependency on Major HEIs: The group earned 89.00%, 88.60% and 87.50% of its operating income through its three major HEIs during FY2025, FY2024 and FY2023, respectively. Any negative event related to these HEIs could affect the financial performance of the group.
- Regional Concentration Risk: The group earned 100% of its operating income during the last three Financial Years through its HEIs and other student accommodation properties situated in the northern and southern regions of India. Any negative event related to these regions could affect the business, financial condition and performance of the group.
Financials
Restated summary financials for the most recent periods.
Figures are indicative and restated for presentation.
Elevate Campuses IPO Key Numbers
Calculated by IPOLyst from the published offer-document data. These are figures, not buy or sell calls.
Market cap at upper band
₹6,100.8 Cr
Post-IPO shares × upper price band
P/E on 2026 profit
35.1x
Price to sales
10.11x
Revenue growth, 2026
+53.1%
29% a year over the period
Profit growth, 2026
+249.3%
109.2% a year over the period
Profit margin (PAT)
28.8%
Promoter holding
100% → 65.58%
Before → after the IPO
Issue mix
100% fresh / 0% sale
Fresh issue goes to the company, offer for sale to selling shareholders
GMP-implied gain per lot
₹287
41 shares on ₹14,842. GMP is unofficial.
What stands out
- Healthy profit margin: PAT margin was 28.8% in 2026.
- Profit grew 249.3% in 2026.
Watch-outs
- 1 use-of-proceeds item(s) have no disclosed amount.
- GMP has fallen 56.2% from its peak of ₹16 to ₹7.
Scenarios apply today's grey market premium figures to the upper price band. They are illustrations, not predictions. GMP is unofficial and can be wrong.
Not yet available for this IPO: listed peer comparison.
IPO Analysis SummaryAI-generated
A plain-language review of Elevate Campuses's financials, valuation and demand, based only on the verified figures above. For information only. It does not recommend whether to apply.
Elevate Campuses IPO Review
Analysis based on live GMP, subscription, and issue details.
As of today, Elevate Campuses IPO is trading at a grey market premium (GMP) of +₹7 (+2% estimated listing gain), indicating positive market sentiment.
The IPO has been subscribed 1.72x overall — QIB: 2.52x, NII: 0.81x, Retail: 0.69x.
Elevate Campuses IPO subscription has closed. The shares are expected to list on September 30, 2026.
The minimum investment required is ₹14,842 for 41 shares (1 lot). Retail investors can apply at cut-off price for the best chance of allotment.
Key strengths include: Largest Institutionalized Education Platform: Elevate stands out as one of the largest institutionalized and independent education platforms in India and is trusted by some of the leading education groups. The already existing connections will help in building up an extensive education infrastructure and accommodation facilities.; Well-Established Operational & Asset Management Expertise: The firm has built a good operational expertise and asset management capability in its education-oriented portfolio. It helps in managing the student accommodation assets effectively and having good relations with the educational institutions.. Investors should note the following risks: Dependency on Occupied Units: The group has earned 100% of its income from operations through the student accommodation business in the past three Financial Years. Any failure in maintaining the occupancy rate may have an adverse effect on its business, financial position, operations, and cash flows.; Heavy Dependency on Major HEIs: The group earned 89.00%, 88.60% and 87.50% of its operating income through its three major HEIs during FY2025, FY2024 and FY2023, respectively. Any negative event related to these HEIs could affect the financial performance of the group..
Disclaimer: IPO GMP is indicative and sourced from the grey market. This is not investment advice. Please consult a SEBI-registered advisor before investing.
Elevate Campuses IPO — Frequently Asked Questions
What is Elevate Campuses IPO GMP today?
Elevate Campuses IPO GMP (grey market premium) today is +₹7, suggesting an estimated listing gain of +2%. GMP is indicative and subject to change.
What is the price band of Elevate Campuses IPO?
The price band for Elevate Campuses IPO is ₹343 - ₹362 with a lot size of 41 shares. The minimum investment required is ₹14,842.
When is Elevate Campuses IPO allotment date?
Elevate Campuses IPO allotment is expected to be finalised on September 28, 2026. You can check your allotment status on the registrar's website (Kfin Technologies Ltd.) using your PAN number.
When will Elevate Campuses IPO list on NSE/BSE?
Elevate Campuses IPO is expected to list on BSE, NSE on September 30, 2026.
How to check Elevate Campuses IPO allotment status?
To check Elevate Campuses IPO allotment status, visit the registrar's website (Kfin Technologies Ltd.) and enter your PAN number, application number, or DP/Client ID. You can also check on the BSE IPO allotment page at https://www.bseindia.com/investors/appli_check.aspx.
Should I apply for Elevate Campuses IPO?
Elevate Campuses IPO has a GMP of +₹7. Before applying, review the company's financials, business model, issue structure (OFS vs fresh issue), and sector outlook. IPOLyst is not a SEBI-registered investment advisor — please consult a qualified financial advisor before investing.
What is the lot size of Elevate Campuses IPO?
The lot size for Elevate Campuses IPO is 41 shares per lot. The minimum investment for retail investors is ₹14,842. Retail investors can apply for a maximum of 13 lots or up to ₹2 lakh, whichever is lower.