Elevate Campuses Limited IPO
23 Sept 2026 – 25 Sept 2026
Share Price
- Candle
- 6 Oct
- O
- ₹339
- H
- ₹341.9
- L
- ₹327.05
- C
- ₹337.75
4 trading days since listing · NSE end-of-day prices
Issue Details
- Price Band
- ₹343 – ₹362
- Lot Size
- 41 shares
- Min Investment
- ₹14,842 (1 lot · 41 shares)
- Face Value
- ₹1
- Fresh Issue
- ₹2100 Cr (to the company)
- Issue Size
- Initial Public offer comprising of Fresh issue aggregating up to Rs. 21,000 million (Including Anchor reservation portion of 2,61,04,972 equity shares)
- Registrar
- KFin Technologies Limited ↗
Timetable
GMP History
Latest GMP ₹6.5 · Last updated 7 Oct 2026, 11:51 am IST
| Date | GMP | GMP % | Change | Est. Listing | Updated (IST) |
|---|---|---|---|---|---|
| 29 Sept | ₹6 | +1.7% | — | ₹368 | |
| 28 Sept | ₹6 | +1.7% | −₹3.5 | ₹368 | |
| 27 Sept | ₹9.5 | +2.6% | −₹0.5 | ₹371.5 | |
| 26 Sept | ₹10 | +2.8% | +₹7 | ₹372 | |
| 25 Sept | ₹3 | +0.8% | +₹1 | ₹365 | |
| 24 Sept | ₹2 | +0.6% | −₹2.5 | ₹364 | |
| 23 Sept | ₹4.5 | +1.2% | −₹0.5 | ₹366.5 | |
| 22 Sept | ₹5 | +1.4% | −₹11 | ₹367 | |
| 21 Sept | ₹16 | +4.4% | — | ₹378 |
Subscription
Category-wise bidding
| Category | Offered | Bid for | Times |
|---|---|---|---|
| QIB | 1,83,67,34754.5% | 3,44,83,665 | 1.88x |
| NII / HNI | 91,83,67327.3% | 61,29,623 | 0.67x |
| bNII · bids above ₹10L | 61,22,44918.2% | 37,67,162 | 0.62x |
| sNII · bids ₹2L–₹10L | 30,61,2249.1% | 23,62,461 | 0.77x |
| Retail | 61,22,44818.2% | 50,37,629 | 0.82x |
Bids received on NSE, as at 25-Sep-2026 19:00:49 IST. The two NII rows are parts of the NII total above them, not additions to it.
Day-wise subscription
| Date | QIB | NII / HNI | Retail | Total |
|---|---|---|---|---|
| 25 Sept | — | — | — | 1.36x |
| 24 Sept | 0.18x | 0.33x | 0.23x | 0.23x |
| 23 Sept | 0.18x | 0.30x | 0.13x | 0.20x |
Financials
All values in ₹ crore
About Elevate Campuses
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.
As published in the company's own offer documents.
Lead Managers
- JM Financial Limited
- IIFL Capital Services Limited
- Morgan Stanley India Company Private Limited
Offer details
Application sizes
| Category | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min)one lot, the smallest bid allowed | 1 | 41 | ₹14,842 |
| Retail (max)most that stays under ₹2L | 13 | 533 | ₹1,92,946 |
| S-HNI (min)first bid over ₹2L | 14 | 574 | ₹2,07,788 |
| S-HNI (max)most that stays under ₹10L | 67 | 2,747 | ₹9,94,414 |
| B-HNI (min)first bid over ₹10L | 68 | 2,788 | ₹10,09,256 |
Priced at the top of the band, which is what a cut-off bid pays. Retail ends at ₹2,00,000 and S-HNI at ₹10,00,000; these are SEBI's limits, not the issuer's.
Issue mechanics
- Issue Type
- Book Building
- Minimum Order
- 41 Equity Shares
- Categories
- FI, IC, MF, FII, OTH, CO, IND, and NOH
- UPI Eligible
- IND (upto 5 Lakhs)
- Max Bid (Retail)
- Rs. 2,00,000
- Max Bid (QIB)
- 3,36,73,464 Equity Shares in multiple of 41 Equity Shares
- Max Bid (NII)
- 1,53,06,120 Equity Shares in multiple of 41 Equity Shares
- Tick Size
- Re. 1
- Bidding Hours
- 10.00 a.m. to 5.00 p.m.
- UPI Mandate Cut-off
- 25-Sep-2026 (upto 5:00 PM) The new cut-off time for UPI mandate acceptance is 05:00 PM on last day of IPO bidding. Further bids with confirmed status of mandate amount blocked (RC100) shall be considered as valid applications and hence, investors are advised to submit their UPI applications in IPO well in advance to avoid any last minute technical/systemic constraints that may hamper their ability
- Sponsor Bank
- AXIS Bank Limited and ICICI Bank Limited
Registrar
- Name
- KFin Technologies Limited
- Address
- Selenium, Tower-B, Plot No. 31 and 32, Financial District, Nanakramguda, Serilingampally, Rangareddi, Hyderabad 500 032, Telangana, India
- Contact
- M. Murali Krishna, +91 40 6716 2222, Elevatecampuses.ipo@kfintech.com
Documents
- Red Herring ProspectusThe full offer documentPDF
- Basis of Issue PriceHow the band was arrived atPDF
- Anchor AllocationWho was allotted before the issue openedPDF
- Application FormThe blank ASBA form, as filedPDF
- Bidding CentresWhere a physical form can be handed inPDF
- Security ParametersTick size, lot and limits as filed with the exchangePDF
- Security Parameters (post-anchor)The same, restated after the anchor book closedPDF
Published by NSE as ZIP archives; opened here as the PDF inside.
Collected from NSE and public sources. Always confirm against the prospectus before applying.
Frequently Asked Questions
What is the GMP of Elevate Campuses Limited IPO today?
The latest grey market premium for Elevate Campuses Limited IPO is ₹6.5. GMP is unofficial and indicative only — it is not a guarantee of listing price.
What is the price band of Elevate Campuses Limited IPO?
The price band is ₹343 – ₹362, with a lot size of 41 shares. The minimum investment is ₹14,842.
When does Elevate Campuses Limited IPO open and close?
The issue opens on 23 Sept 2026 and closes on 25 Sept 2026. Listing is expected on 30 Sept 2026.
Who is the registrar for Elevate Campuses Limited IPO?
KFin Technologies Limited is the registrar. Allotment status can be checked on the registrar's website once allotment is finalised.