Elevate Campuses IPO
Elevate Campuses IPO Listing Day Performance
Elevate Campuses listed on BSE & NSE on 30 September 2026 at ₹355.10, a 1.91% discount to the issue price of ₹362. A retail investor allotted one lot of 41 shares lost ₹283 at the listing price.
GMP vs actual listing
| Last GMP before listing | ₹6.5 (+1.8%) |
| GMP-implied listing | ₹369 |
| Actual listing | ₹355.10 |
| Difference | −₹13.4 (−3.6%) |
Demand going into listing
| Subscribed overall | 1.89× |
| QIB | 2.66× |
| NII | 0.89× |
| Retail | 1.07× |
Market Sentiment
The overall score is a weighted average of the parts below, so one weak part can sit inside a strong overall reading.
IPO Details
Day-wise Subscription (times subscribed)
| Category | Day 1 | Day 2 | Final |
|---|---|---|---|
| QIB | 0.18x | 0.18x | 2.66x |
| NII | 0.30x | 0.33x | 0.89x |
| bNII > ₹10L | 0.44x | 0.46x | 0.87x |
| sNII 2-10L | 0.02x | 0.06x | 0.93x |
| Retail | 0.13x | 0.23x | 1.07x |
| Total | 0.20x | 0.23x | 1.89x |
Market Lot Size
IPO Reservation
Financial Analysis
Financial Data
Financial Performance
| Metric | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | 362.61 | 394.13 | 603.39 |
| Expense | 290.41 | 303.83 | 504.55 |
| Profit (PAT) | 39.69 | 49.74 | 173.76 |
| Total Assets | 2,104.74 | 2,421.20 | 5,773.35 |
Strengths & Risks
- Strong institutional (QIB) demand — 2.7x.
- Revenue grew 53% in the latest reported year.
- Solid profit margin — 28.8%.
Our data checks haven't flagged a specific concern for Elevate Campuses — but that isn't a clean bill of health. Read the risk-factors section of the RHP, which lists company-specific risks our data can't capture.
Compiled from this issue's live GMP, subscription, valuation and financial data, and updated as those figures change. Informational only — not investment advice. Always read the RHP before applying.
Company Information
About Elevate Campuses
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.
Company Contact Information
Elevate Campuses Ltd., Naman Midtown, Unit No 902-906, 9 th Floor, Tower B, Senapati Bapat Marg,, Lower Parel,, Mumbai, Maharashtra, 400013
Objects of the Issue
| Purpose | Amount (Cr) |
|---|---|
| Payment of the purchase consideration for the acquisition of the K-12 Entities and Campuses; | 1,100.00 |
| Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable of availed by our Company and certain of our Subsidiaries, namely GHS Shoolini, GHS Sonipat, Souk HIS UAE and Souk NLCS UAE, through investment in such Subsidiaries; and | 750.00 |
| Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes, | - |
Resources & Documents
Anchor Investors
Elevate Campuses IPO - Quick Take
Elevate Campuses has set a price band of Rs 343–Rs 362 per share for an issue size of Rs 2,100 crore. The stock listed with a 1.91% discount versus its issue price on September 30, 2026.
The issue is promoted by Genius Bidco Holdings Pte. and Genius Rajkot Investment Holdings Pte with JM Financial Ltd., IIFL Capital Services Ltd., Morgan Stanley India Co. Pvt. Ltd. acting as lead manager. Net proceeds will primarily be used towards payment of the purchase consideration for the acquisition of the K-12 Entities and Campuses; (Rs 1,100 crore) and repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applica… (Rs 750 crore).
On fundamentals, the company is posting revenue growth of 53.1%, a profit margin of 28.8% in its most recent reported period.
On our data-signal score, the combined signals for this issue currently read mixed — some indicators read positively and others do not. This is a summary of public data, not a recommendation to apply or skip. Past performance does not predict future returns — review the price chart and peer comparison below before trading.
Frequently Asked Questions
Elevate Campuses IPO GMP — What It Means
GMP stops mattering once the shares trade — it only ever estimated the listing price. The summary at the top of this page compares the last pre-listing GMP with how the shares actually listed. Its last GMP before listing was 1.8%. Of the 37 Mainboard IPOs we have tracked with a final GMP under 10%, 24 listed above, 6 flat and 7 below the issue price; Elevate Campuses listed 1.9% below its issue price.
See the full Elevate Campuses GMP history and trend, or learn how grey market premium works and how reliable it is.
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