Elevate Campuses IPO Date & Timeline
Tentative schedule from the RHP.
Elevate Campuses IPO GMP Today
Unofficial, aggregated from market sources. It never feeds our score.
Full GMP history (25 updates)
| Date & time (IST) | GMP | Change | GMP % | Est. listing |
|---|---|---|---|---|
| Sep 29, 2026 · 4:30 PM | ₹6 | ₹0 | 1.7% | ₹368 |
| Sep 29, 2026 · 8:30 AM | ₹6 | −₹2 | 1.7% | ₹368 |
| Sep 28, 2026 · 9:00 PM | ₹8 | ₹0 | 2.2% | ₹370 |
| Sep 28, 2026 · 5:30 PM | ₹8 | ₹0 | 2.2% | ₹370 |
| Sep 28, 2026 · 12:30 PM | ₹8 | −₹2 | 2.2% | ₹370 |
| Sep 27, 2026 · 11:59 PM | ₹10 | +₹1 | 2.8% | ₹372 |
| Sep 26, 2026 · 11:59 PM | ₹9 | +₹7 | 2.5% | ₹371 |
| Sep 25, 2026 · 6:00 PM | ₹2 | ₹0 | 0.6% | ₹364 |
| Sep 25, 2026 · 1:30 PM | ₹2 | ₹0 | 0.6% | ₹364 |
| Sep 25, 2026 · 9:30 AM | ₹2 | ₹0 | 0.6% | ₹364 |
| Sep 25, 2026 · 7:00 AM | ₹2 | ₹0 | 0.6% | ₹364 |
| Sep 24, 2026 · 7:15 PM | ₹2 | ₹0 | 0.6% | ₹364 |
| Sep 24, 2026 · 12:00 PM | ₹2 | −₹1 | 0.6% | ₹364 |
| Sep 24, 2026 · 11:30 AM | ₹3 | −₹2 | 0.8% | ₹365 |
| Sep 24, 2026 · 9:30 AM | ₹5 | ₹0 | 1.4% | ₹367 |
| Sep 24, 2026 · 6:00 AM | ₹5 | ₹0 | 1.4% | ₹367 |
| Sep 23, 2026 · 8:00 PM | ₹5 | ₹0 | 1.4% | ₹367 |
| Sep 23, 2026 · 2:00 PM | ₹5 | ₹0 | 1.4% | ₹367 |
| Sep 23, 2026 · 6:30 AM | ₹5 | −₹3 | 1.4% | ₹367 |
| Sep 22, 2026 · 6:30 PM | ₹8 | −₹4 | 2.2% | ₹370 |
| Sep 22, 2026 · 3:30 PM | ₹12 | −₹4 | 3.3% | ₹374 |
| Sep 21, 2026 · 4:00 PM | ₹16 | ₹0 | 4.4% | ₹378 |
| Sep 20, 2026 · 11:59 PM | ₹16 | ₹0 | 4.4% | ₹378 |
| Sep 19, 2026 · 11:59 PM | ₹16 | +₹1 | 4.4% | ₹378 |
| Sep 18, 2026 · 11:59 PM | ₹15 | — | 4.1% | ₹377 |
Elevate Campuses IPO Subscription Status
From NSE + BSE bid data, excluding the anchor portion.
Day-wise subscription
| Day | QIB | bHNI | sHNI | NII total | Retail | Total |
|---|---|---|---|---|---|---|
| Shares offered | 1,74,03,315 | 58,01,105 | 29,00,552 | 87,01,657 | 58,01,105 | 3,19,06,077 |
| Day 1 · Sep 23 | 0.19× | 0.47× | 0.02× | 0.32× | 0.14× | 0.21× |
| Day 2 · Sep 24 | 0.19× | 0.49× | 0.07× | 0.35× | 0.25× | 0.24× |
| Day 3 · Sep 25 | 2.66× | 0.87× | 0.93× | 0.89× | 1.07× | 1.89× |
Elevate Campuses IPO Details
Checked against the RHP and cross-checked on NSE and BSE.
| IPO date | Sep 23 – 25, 2026 |
| Price band | ₹343 – 362 per share |
| Face value | ₹1 per share |
| Lot size | 41 shares |
| Total issue size | 5,80,11,049 shares ₹2,100.00 Cr |
| Fresh issue | 5,80,11,049 shares ₹2,100.00 Cr |
| Issue type | Book Built · Mainboard |
| Listing at | BSE, NSE |
| Market cap | ≈ ₹6,100.82 Cr |
| Promoter holding | 100% → 65.58% |
| Lead managers | JM Financial Ltd., IIFL Capital Services Ltd., Morgan Stanley India Co. Pvt. Ltd. |
| Registrar | KFin Technologies Ltd. |
Offer documents
Elevate Campuses IPO Lot Size
Minimum and maximum bids by investor type at the upper band of ₹362.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (min) | 1 | 41 | ₹14,842 |
| Retail (max) | 13 | 533 | ₹1,92,946 |
| sHNI (min) | 14 | 574 | ₹2,07,788 |
| sHNI (max) | 67 | 2,747 | ₹9,94,414 |
| bHNI (min) | 68 | 2,788 | ₹10,09,256 |
Elevate Campuses IPO Reservation
Shares set aside for each category, and the maximum number of applicants who can get an allotment.
| Category | Shares offered | % of issue | Max. allottees |
|---|---|---|---|
| Anchor investors | 2,61,04,972 | 45% | — |
| QIB (ex-anchor) | 1,74,03,315 | 30% | — |
| NII (HNI) | 87,01,657 | 15% | — |
| ↳ bHNI (>₹10L) | 58,01,105 | 10% | 10,106 |
| ↳ sHNI (₹2–10L) | 29,00,552 | 5% | 5,053 |
| Retail | 58,01,105 | 10% | 1,41,490 |
| Total | 5,80,11,049 | 100% |
Elevate Campuses Financials (FY24 – FY26)
Restated consolidated figures from the RHP, ₹ crore. Years end March 31.
Financial statement
| ₹ Cr | FY24 | FY25 | FY26 | YoY |
|---|---|---|---|---|
| Revenue | 362.61 | 394.13 | 603.39 | +53.1% |
| EBITDA | 220.13 | 256.40 | 545.00 | +112.6% |
| Profit after tax | 39.69 | 49.74 | 173.76 | +249.3% |
| Total assets | 2,104.74 | 2,421.20 | 5,773.35 | +138.4% |
| Net worth | 655.77 | 699.78 | 956.29 | +36.7% |
| Reserves & surplus | 653.56 | 697.57 | 947.45 | +35.8% |
| Total borrowing | 984.71 | 1,206.60 | 4,120.53 | +241.5% |
Elevate Campuses IPO Valuation
At the upper band of ₹362.
About Elevate Campuses
Business profile from the RHP.
- 2005Incorporated · head office in Mumbai
- 94,758 studentsCapacity across 20 Indian cities + 1 UAE city (Aug 31, 2025)
- 66,272 beds16,934 owned (5 campuses) + 49,338 managed (14 campuses)
- 16 K-12 assets3 under development, plus 2 K-12 assets in Dubai
Promoters & holding
Genius Bidco Holdings Pte. Ltd., Genius Rajkot Investment Holdings Pte. Ltd.
Objects of the issue
Anchor investors
Allotted Sep 22, 2026 · 2,61,04,972 shares. Participants include SBI MF, HDFC MF, WhiteOak Capital MF, Mirae Asset MF, Bandhan MF, 360 ONE Real Assets Development Fund, Government Pension Fund Global and Tata AIG General Insurance.
Elevate Campuses IPO Review: Should You Apply?
Our 100-point score, and both sides of the case.
Our view: A large, fast-growing student-housing platform with long university partnerships and a strong mutual-fund-led anchor book. But debt is about 5× equity, ~89% of income comes from three institutions, FY26 profits look unusually high, it is priced at ~35× post-issue earnings, and the issue closed only 1.89× subscribed, mostly on QIB bids.
- One of India's largest institutional student-housing platforms, with capacity for ~94,758 students across 20 Indian cities and one UAE city.
- Fast growth: revenue up ~29% a year (FY24–26) to ₹603 Cr, with FY26 profit of ₹174 Cr.
- Long-standing partnerships with large universities (Manipal Academy of Higher Education, Manipal University Jaipur), plus K-12 assets covering the full student lifecycle.
- Strong anchor book: ₹945 Cr from 40 investors, 63% of it from domestic mutual funds (SBI, HDFC, Mirae and others).
- Entirely a fresh issue, with ₹750 Cr going to repay debt.
- Very high leverage: borrowings rose to ₹4,121 Cr in FY26 from ₹1,207 Cr, and debt is about 5× equity.
- Concentration: ~89% of operating income came from its three main universities, and all of it from north and south India.
- FY26 profit jumped 3.5× with a reported ~90% EBITDA margin, while ROCE is only 6.4%. Check the RHP for acquisitions or one-off items.
- Expensive: ~35× post-issue earnings and ~10× sales, with no listed Indian peers to benchmark against.
- ₹1,100 Cr goes to buying K-12 entities and more to unidentified acquisitions. Public demand was weak: the issue closed 1.89× on QIB bids (2.66×), with NIIs at 0.89× and retail at 1.07×, and the GMP is small (₹6).
Elevate Campuses Listing Performance Updates after Sep 30
We close the loop: issue vs listing price, and whether our call was right.
Elevate Campuses IPO Allotment Status & Contact Details
Allotment was finalised on Sep 28. Check it with your PAN or application number.
Elevate Campuses Ltd.
- Address
- Naman Midtown, Unit 902–906, 9th Floor, Tower B, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra 400013
- Phone
- +91 22 6820 1600
- companysecretary@elevatecampuses.com
- Website
- elevatecampuses.com
Elevate Campuses IPO FAQs
GMP, price, lot size, dates, allotment and how to apply.
What is Elevate Campuses IPO?
Elevate Campuses IPO is a ₹2,100.00 Cr Mainboard book built issue, entirely a fresh issue. The shares will list on BSE and NSE.
What is Elevate Campuses IPO GMP today?
As of Sep 29 · 4:30 PM IST, the grey market premium is ₹6 (≈1.7%), implying an estimated listing price of about ₹368. The GMP has ranged ₹2 – 16 since Sep 18. GMP is unofficial and not a guarantee of the listing price.
What is the price band of Elevate Campuses IPO?
The price band is ₹343 – ₹362 per equity share of face value ₹1.
What is the lot size of Elevate Campuses IPO?
The minimum lot is 41 shares. Retail investors can apply for 1 to 13 lots (41 to 533 shares).
What is the minimum investment for Elevate Campuses IPO?
The minimum retail investment is ₹14,842 (41 shares at ₹362). The maximum retail application is ₹1,92,946 (13 lots).
When does Elevate Campuses IPO open and close?
The IPO opens on Sep 23, 2026 and closes on Sep 25, 2026.
What is the allotment date of Elevate Campuses IPO?
The basis of allotment is finalised on Sep 28, 2026. Refunds and demat credit are expected on Sep 29, 2026.
When will Elevate Campuses IPO be listed?
The tentative listing date is Sep 30, 2026 on BSE and NSE.
What is Elevate Campuses IPO subscription status?
At close (Sep 25 · 5:00 PM IST), the issue was subscribed 1.89× overall — QIB 2.66×, bHNI 0.87×, sHNI 0.93×, Retail 1.07×.
What is the P/E ratio and valuation of Elevate Campuses IPO?
At the upper band, the P/E is 23.0× pre-issue and 35.1× post-issue, with a market cap of about ₹6,100.82 Cr.
Should I apply for Elevate Campuses IPO?
IPOSignal's view is High Risk · Heavy Debt, Weak Demand (53/100). A large, fast-growing student-housing platform with long university partnerships and a strong mutual-fund-led anchor book. But debt is about 5× equity, ~89% of income comes from three institutions, FY26 profits look unusually high, it is priced at ~35× post-issue earnings, and the issue closed only 1.89× subscribed, mostly on QIB bids. This is research, not investment advice.
How to check Elevate Campuses IPO allotment status?
Check on the registrar KFin Technologies Ltd.'s site (ipostatus.kfintech.com), or on the BSE / NSE allotment pages, using your PAN or application number.
Who is the registrar and lead manager of Elevate Campuses IPO?
The registrar is KFin Technologies Ltd.. The book-running lead managers are JM Financial Ltd., IIFL Capital Services Ltd. and Morgan Stanley India Co. Pvt. Ltd..