Incorporated in 2005, Elevate Campuses Ltd. is an education infrastructure company engaged in owning, operating and managing on-campus student accommodation for higher education institutions (HEIs) and owning K-12 school assets. The Company operates its student accommodation business under the Good Host Spaces and ScholarZ brands.
As of March 31, 2026, the Company’s Pre-Acquisition Group had a student accommodation capacity of 80,255 students across 15 cities in India and one city in the United Arab Emirates. Its portfolio included seven owned student accommodation campuses with 20,368 beds across six Indian cities and 14 managed campuses with 55,487 beds.
The Company provides operational services covering deal sourcing, site selection, development, asset acquisition, asset repositioning and community engagement. It also provides community and campus technology services, including media coverage of HEIs and community events.
The Company works with educational institutions including Manipal Academy of Higher Education, Manipal University, Jaipur and Meraki Education. As of March 31, 2026, its owned student accommodation portfolio recorded an occupancy rate of 89.37% for the Academic Year 2025-26.
Since commencing operations as an independent owner and operator of student accommodation in Financial Year 2018, the Company has expanded its owned student accommodation portfolio from 9,153 beds to 20,368 beds as of March 31, 2026.
As of the same date, it had 460 full-time employees in its Pre-Acquisition Group.
| Purpose | Amount (₹ Cr) |
|---|---|
| Payment of the purchase consideration for the acquisition of the K-12 Entities and Campuses | ₹1,100 |
| 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 |
| Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes, | — |
| Metric | 31 Mar 2026 | 31 Mar 2025 | 31 Mar 2024 |
|---|---|---|---|
| Total Assets | 5,773 | 2,421 | 2,105 |
| Revenue | 603 | 394 | 363 |
| PAT | 174 | 50 | 40 |
| EBITDA | 545 | 256 | 220 |
| Net Worth | 956 | 700 | 656 |
| Reserves | 947 | 698 | 654 |
| Total Borrowing | 4,121 | 1,207 | 985 |
| Category | Sub (x) | Offered | Bid For |
|---|---|---|---|
| QIB | 1.68 | 44,428,999 | 72,961,714 |
| NII / HNI | 0.88 | 7,658,185 | 7,658,185 |
| Retail (RII) | 1.03 | 5,923,865 | 5,967,837 |
| Total | 1.49 | 58,011,049 | 86,587,736 |
* Amount calculated at upper price band (₹362) · ** Total includes all investor categories
- 1 Initiation of Refund 29 Sep 2026
- 2 Credit of Shares to Demat 29 Sep 2026
- 3 Lock-in Period (30%) Wed, Oct 28, 2026
- 4 Lock-in Period (50%) Sun, Dec 27, 2026
- The IPO P/E of 35x reflects a moderate valuation relative to typical market ranges.
- Pre-issue EPS of ₹16 compares to post-issue EPS of ₹10 after dilution.
This IPO has relatively lower interest or stretched valuation. Proceed with thorough research and caution.
The information on mainboardgmp.com is provided for educational and informational purposes only.
We are not a Securities and Exchange Board of India (SEBI)-registered investment advisor, analyst, broker, or financial planner. The content, data, and insights on this website, including Grey Market Premium (GMP), subscription data, IPO dates, and market information, are not intended as financial advice or recommendations to buy, sell, or hold securities.
GMP and related IPO data are collected from unofficial market sources and may not reflect actual IPO listing performance or future price movements. You should not rely solely on the information provided here to make financial or investment decisions.
Investing in IPOs and securities involves risk. Always conduct your own research and consult a qualified SEBI-registered financial advisor before making investment decisions. mainboardgmp.com and its owners shall not be liable for any financial losses, trading losses, or damages arising from use of this website.
By accessing and using mainboardgmp.com, you agree to be bound by these Terms & Conditions. If you do not agree with any part of these terms, you should not use this website.
mainboardgmp.com provides information related to IPOs, including Grey Market Premium (GMP), subscription status, IPO dates, company details, and market trends. All content is for informational purposes only.
Nothing on this website constitutes financial, investment, tax, or legal advice. The content does not constitute a recommendation to invest in any securities, and no assurance is made regarding the accuracy, completeness, or reliability of any information. You should independently verify all information and consult qualified professionals before making investment decisions.
We strive to provide accurate and up-to-date information, but we do not guarantee that all content is correct, complete, or current at all times. IPO details and GMP data are subject to change without notice.
All content, design, graphics, and data on this website belong to mainboardgmp.com and may not be copied, reproduced, or redistributed without express written permission.
You agree not to use the website for unlawful purposes or in a way that may harm, disable, or impair the site's operation.
To the maximum extent permitted by law, mainboardgmp.com and its affiliates shall not be liable for any losses, damages, costs, or expenses arising out of your use of this website.
These Terms shall be governed by the laws of India. Any disputes will be subject to the exclusive jurisdiction of courts located in Kolkata, West Bengal.
We reserve the right to modify these Terms at any time. Continued use of the site constitutes acceptance of the updated Terms.
We may collect: email address (if submitted voluntarily), IP address, browser and device information, cookies and usage data. We do not collect sensitive personal information unless voluntarily provided.
Collected data may be used to improve website performance, respond to inquiries, send newsletters or updates (if you subscribe), and analyze traffic through analytics tools.
We use cookies and similar technologies to enhance user experience and track website usage. Users can disable cookies through browser settings.
We may use third-party services (e.g., Google Analytics) that collect demographic and usage data to help us understand traffic and improve services.
We do not sell personal information. We may share data with service providers (e.g., analytics providers) who assist with website operations.
Reasonable measures are taken to protect user data, but no online transmission can be guaranteed 100% secure.
This website is not directed at children under the age of 18.
We may update this Privacy Policy at any time. Continued use of the website constitutes acceptance of changes.
For privacy concerns, please contact us via the Support page.