Elevate Campuses IPO subscribed 5% so far on Day 1: Check price band, lot size and key dates

The initial public offering of Hillhouse Investment-backed student accommodation and K-12 platform Elevate Campuses has been subscribed 5% so far on the first day of bidding on Wednesday, September 23. The issue will end on September 25.

It received bids for 15,98,836 shares compared to 3,36,73,468 shares on offer, according to the NSE data until 12:08 pm.

The retail portion was subscribed 7%, while the quota for non-institutional investors was booked 12%.

The ₹2,100 crore initial share sale comprises a fresh issue of 5.80 crore equity shares with no offer-for-sale component.

The proceeds will be used to acquire K-12 entities and campuses, clear debt and meet general corporate requirements.

"We expect to achieve the benefits of listing of our equity shares on the stock exchanges, including enhancement of our company’s brand name and creation of a public market for our equity shares in India," the company said in its red herring prospectus.

Elevate Campuses IPO price band and lot size

The price band has been set at ₹343 to ₹362 per share, and a lot consists of 41 shares.

Before the IPO, the company raised ₹945 crore from anchor investors, including SBI Mutual Fund, HDFC Mutual Fund, White Oak Mutual Fund, Mirae Asset Management, 360 One, Bandhan Mutual Fund, Tata AIG General Insurance and Norges Bank Investment Management, among other.

Elevate Campuses IPO allotment and listing date

• Subscription period: September 23 to September 25
• Basis of allotment: September 28
• Refund initiation: September 29
• Credit of shares: September 29
• Listing on NSE and BSE: September 30

Elevate Campuses owns, operates and manages on-campus student accommodation facilities across higher education institutions (HEIs). The firm also owns K-12 education assets.

According to its RHP, the firm had seven owned student accommodation campuses with over 20,000 beds and a managed portfolio of 14 campuses with more than 55,000 beds as of March 31, 2026. Additionally, it had 18 schools across India and the United Arab Emirates.