Data shown is for informational purposes only and does not constitute investment advice. TopFund is not SEBI-registered. Consult a SEBI-registered advisor before investing.
Elevate Campuses IPO
Price Band
₹343.0–362.0
Issue Size
₹2100.0 Cr
Lot Size
41 shares
Min Investment
₹14,842
GMP
+₹9.5 (2.62%)
Issue Price
₹362.0
Subject to Sauda
₹300
Paid only if allotted
Elevate Campuses IPO AI Summary
- Elevate Campuses IPO is allotted on BSE, NSE in the Education sector.
- Price band: ₹343.0–₹362.0 per share, lot size 41 shares (min. investment ₹14,842).
- Subscription window: 23 Sep–25 Sep 2026, listing on 30 Sep 2026.
- Current GMP is +₹9.5 (2.62%), an estimated listing price of ₹372 — unofficial and can change daily.
Elevate Campuses Ltd. is an established player in the education sector, focusing on student accommodation and K-12 assets. The company has shown significant growth in revenue and profit, with a robust expansion strategy. The IPO offers an opportunity for investors to participate in this growth, with the subscription currently open.
TopFund is not SEBI-registered — this is educational analysis, not personalized investment advice.
Elevate Campuses IPO — Third-Party Research Views
Reviews below reflect analyst calls made before this IPO closed on 25 Sep 2026 — not a current signal.
Recommendations are sourced from third-party research firms and are not TopFund's own investment advice.
Important Dates
Subscription Status
Overall Subscription
1.89x
| Category | Subscription | Status |
|---|---|---|
| QIB (Institutional) |
2.66x
|
2.66x |
| NII (HNI) |
0.89x
|
0.89x |
| ↳ bNII (>₹10L) |
0.87x
|
0.87x |
| ↳ sNII (<₹10L) |
0.93x
|
0.93x |
| Retail (RII) |
1.07x
|
1.07x |
| Total | 1.89x | 1.89x |
Auto-updated every 5 min · As of 25th Sep 2026 18:54
Elevate Campuses IPO Grey Market Premium (GMP) Today
GMP
+₹9.5
GMP %
+2.62%
Est. Listing
₹371.5
Updated: 28 Sep 2026 02:15
GMP Trend (Last 9 Days)
TopFund Score — Listing Data Indicator
GMP is 2.6% above issue price
QIB subscribed 2.66x
No anchor allocation for this IPO
Similar IPOs (same IPO type) averaged 18.1% listing gain
A rules-based composite of GMP, subscription demand, anchor participation and comparable-IPO history — each weighted as shown above. Not a statistically validated probability, a guarantee of listing performance, or personalized investment advice.
Limitations: weights are fixed by TopFund, not backtested against outcomes; the "Historical Similar-IPO Performance" factor needs at least 3 comparable past listings and falls back to a broader, less specific cohort when this sector/type doesn't have enough; GMP and subscription data can change daily right up to listing day, so scores shown may already be stale — check the "as of" date above.
About the Company
Incorporated in 2005, Elevate Campuses Ltd. owns, operates, and manages on-campus student accommodation across higher education institutions (HEIs) and K-12 assets. As of August 31, 2025, the company’s capacity caters to 94,758 students across 20 cities in India and one city in the United Arab Emirates. Its student accommodation business operates under the brands “Good Host Spaces” and “ScholarZ.” The company’s Owned Portfolio includes five student accommodation campuses with 16,934 beds, 16 K-12 assets (three under development), and two student accommodation facilities managed by HEIs and owned by K-12 HoldCos across eight Indian cities, along with two K-12 assets in Dubai. The Managed Portfolio includes 14 student accommodation campuses with 49,338 beds. In addition, the company delivers community and campus technology services such as media coverage of HEIs and community event management. The company collaborates with leading institutions including Manipal Academy of Higher Education (MAHE), Manipal University Jaipur (MUJ), and Meraki Education. Its integrated Elevate Platform combines student accommodation and K-12 assets, supporting students throughout their lifecycle. Between Academic Year 2023 and August 2025, the company added 21,764 beds and six K-12 assets on a post-acquisition group basis. During the same period, its presence expanded from 17 cities and 23 institutes to 21 cities and 33 institutes, including both greenfield and brownfield K-12 developments. As of August 31, 2025, Elevate Campuses Ltd. employed 397 full-time staff.
Company Financials (₹ Cr)
As of 2026-03-31
| Period Ended | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Assets | 5,773.35 | 2,421.20 | 2,104.74 |
| Total Income | 603.39 | 394.13 | 362.61 |
| Profit After Tax | 173.76 | 49.74 | 39.69 |
| EBITDA | 545.00 | 256.40 | 220.13 |
| NET Worth | 956.29 | 699.78 | 655.77 |
| Reserves and Surplus | 947.45 | 697.57 | 653.56 |
| Total Borrowing | 4,120.53 | 1,206.60 | 984.71 |
Key Ratios
EPS
₹15.72
NAV
₹316.58
ROCE
9.90%
RoNW
7.11%
P/B Value
1.14
P/E Ratio
23.03
Market Cap
₹6100.82 Cr
PAT Margin
12.62%
Debt/Equity
2.71
Promoters
Genius Bidco Holdings Pte.Ltd., Genius Rajkot Investment Holdings Pte.Ltd.
Objects of the Issue
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects: # Issue Objects Est Amt (₹ Cr.) 1 Payment of the purchase consideration for the acquisition of the K-12 Entities and Campuses 1,100.00 2 Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable of availed by Company and certain of Subsidiaries, namely GHS Shoolini, GHS Sonipat, Souk HIS UAE and Souk NLCS UAE, through investment in such Subsidiaries 750.00 3 Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes, Total 1,850.00
IPO Evaluation
Generated 27 Sep 2026Revenue Trend
Total income was ₹362.61 Cr in the year ending 31 Mar 2024, rising to ₹394.13 Cr by 31 Mar 2025, and further increasing to ₹603.39 Cr by 31 Mar 2026. This shows a strong upward trend in revenue over the reported periods.
Profit Trend
Profit After Tax was ₹39.69 Cr for the year ending 31 Mar 2024, which increased to ₹49.74 Cr by 31 Mar 2025, and further rose to ₹173.76 Cr by 31 Mar 2026. This indicates a significant growth in profitability across the periods.
Grey Market Premium, Explained
The Grey Market Premium (GMP) indicates the expected listing price of an IPO based on unofficial trading before it officially lists. A positive GMP suggests that investors expect the stock to open at a higher price than the issue price.
Subscription Demand
As of 25th September 2026, the IPO has received a total subscription of 1.89 times. The institutional segment (QIB) saw a subscription of 2.66 times, while the retail segment (RII) was subscribed 1.07 times. The non-institutional segment (NII) had a lower subscription rate of 0.89 times.
Who This IPO Suits
Investors comfortable with short-term volatility and a long-term horizon typically weigh IPOs like this against their investment goals and risk tolerance. It's important to consider the company's growth potential and market conditions.
Who May Want to Wait
Investors who prefer stable, low-risk investments may want to avoid IPOs like this, which can be subject to market fluctuations and uncertainties in the early stages of trading.
IPO Timeline, Explained
The IPO opens on 23rd September 2026 and closes on 25th September 2026. Allotment of shares is expected by 28th September 2026, with the listing date set for 30th September 2026.
Listing Gains — The Risk
Listing gains refer to the profit made by investors when they sell shares on the listing day at a price higher than the issue price. However, such gains are not guaranteed and can be influenced by market conditions, investor sentiment, and overall demand for the stock.
This evaluation is generated from Elevate Campuses's own public IPO filing data for educational purposes and is not investment advice or a recommendation to apply, subscribe to, or avoid this issue — see Broker Recommendations below for named third-party research views (clearly attributed, not TopFund's own). TopFund is not a SEBI-registered investment adviser — see our Disclaimer.
Frequently Asked Questions
What is Elevate Campuses IPO GMP today?
Elevate Campuses IPO GMP today is +₹9.5 (2.62%), indicating an estimated listing price of ₹372. GMP is an unofficial grey-market indicator and can change daily.
What is the price band of Elevate Campuses IPO?
The price band of Elevate Campuses IPO is ₹343.0–₹362.0 per share.
When does Elevate Campuses IPO open and close?
Elevate Campuses IPO opens on 23 September 2026 and closes on 25 September 2026.
When does Elevate Campuses IPO list on the stock exchange?
Elevate Campuses IPO is scheduled to list on 30 September 2026, with an estimated listing price of ₹371.5 based on current GMP.
What is the lot size for Elevate Campuses IPO?
The lot size for Elevate Campuses IPO is 41 shares, requiring a minimum investment of ₹14,842.
What is the TopFund Listing Data Indicator for Elevate Campuses?
Elevate Campuses's Listing Data Indicator score is 47/100 (Moderate signal), a weighted composite of GMP strength, subscription demand, anchor investor interest and how similar past IPOs performed on listing. It's a rules-based summary of public market data, not a statistically validated probability, a guarantee, or personalized investment advice.
What is the price band for the Elevate Campuses IPO?
The price band for the IPO is ₹343 to ₹362.
What is the lot size for the Elevate Campuses IPO?
The lot size is 41 shares.
What is the minimum investment required for the Elevate Campuses IPO?
The minimum investment required is ₹14,842.
When is the listing date for the Elevate Campuses IPO?
The listing date is set for 30th September 2026.
What does GMP mean?
GMP stands for Grey Market Premium, which indicates the expected listing price of an IPO based on unofficial trading.
Issue Details
Investor Allocation
Registrar
Lead Managers / Book Running
IPO Timeline
Open
23 Sep 2026
Close
25 Sep 2026
Allotment
28 Sep 2026
Listing
30 Sep 2026
Similar IPOs in Education
Plan Your IPO Investment
Related Articles
Full Analysis
Should you apply? Company analysis, GMP explained & FAQs
Community Sentiment
What are other investors planning for Elevate Campuses?
No votes yet — be the first to share your view.
Sign in to voteDiscussion
User-generated content — not investment advice, and not verified or endorsed by TopFund.
No comments yet — start the discussion.