Elevate Campuses came to market through an IPO that opened on 23 September 2026 and closed on 25 September 2026, and the shares listed on 30 September 2026 on BSE, NSE. The price band was ₹343 to ₹362 per share and one lot was 41 shares, so the minimum application was ₹14,842. The issue size was ₹2100 crore. The whole issue was fresh shares, so the money raised went to the company.
It listed at ₹355.1, a loss of 1.9% against the issue price of ₹362. Kfin Technologies Limited was the registrar to the issue, and JM Financial Ltd., IIFL Capital Services Ltd., Morgan Stanley India Co.Pvt.Ltd were the lead managers.
As of 25 September 2026.
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Overall the issue was subscribed 1.89 times.
Elevate Campuses Ltd., incorporated in 2005, provides ownership, management, and operation services for on-campus student accommodation within higher education institutions (HEIs) and K-12 assets. As of August 31, 2025, the company’s capacity caters to 94,758 students in 20 cities of India and one city of the United Arab Emirates. The student accommodation service is provided under the brands Good Host Spaces and ScholarZ.
Elevate’s Owned Portfolio comprises five student accommodation campuses with 16,934 beds, 16 K-12 assets (three being developed), and two student accommodation campuses that have been managed by HEIs and are owned by K-12 HoldCos in eight cities of India, together with two K-12 assets in Dubai. Meanwhile, the Managed Portfolio consists of 14 student accommodation campuses with 49,338 beds. Furthermore, the company provides community and campus technology services that include media coverage of HEIs and event management services for communities.
The company partners with prominent educational institutions, including Manipal Academy of Higher Education (MAHE), Manipal University Jaipur (MUJ), and Meraki Education. The Elevate Platform integrates student accommodation and K-12 assets to support the lifecycle of the students. As of August 31, 2025, Elevate Campuses Ltd. employed 397 full-time employees.
As described in the offer document.
| Metric | 31-Mar-26 | 31-Mar-25 | 31-Mar-24 |
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Elevate Campuses Limited (formerly Good Host Spaces Limited) finalised its anchor investor allocation on September 22, 2026, raising ₹945.00 crore from 40 institutional investors at an anchor price of ₹362 per share.
The anchor book comprises 2,61,04,972 equity shares, with domestic mutual funds receiving 63.49% of the allocation through 10 fund houses across 24 schemes, including SBI Mutual Fund, HDFC Mutual Fund, WhiteOak Capital Mutual Fund, Mirae Asset Mutual Fund, Bandhan Mutual Fund, PGIM India Mutual Fund, Edelweiss Mutual Fund, and Groww Mutual Fund. No applications were received from life insurance companies or pension funds.
The remaining allocation went to a broad base of foreign institutional investors, led by 360 One Real Assets Development Fund at 5.82%, 360 One Best in Class at 5.29%, Ashoka WhiteOak India Opportunities Fund at 3.76%, and Government Pension Fund Global and Tata AIG General Insurance, each at 3.70%.
Genius Bidco Holdings Pte. Ltd., Genius Rajkot Investment Holdings Pte. Ltd.. Promoter holding 100% before the issue and 65.58% after.
Work out the listing gain for this IPO
If the retail portion is not fully subscribed, every valid application is allotted in full. If it is oversubscribed, SEBI's rules require that as many applicants as possible receive at least one lot, so the shares are allotted by a computerised lottery across all valid applications, one lot each, until the retail portion is exhausted. Applying for more lots does not improve your chance in a lottery; it only increases what you receive if the issue is under-subscribed.
The basis of allotment document, published by the registrar on the allotment date, states the ratio: for example, one applicant in seven received one lot.
Allotment status is published by the registrar on its website, searchable by PAN, application number or demat account, and also on the exchange's website. Allotted shares are credited to the demat account the day before listing, and blocked money for unsuccessful applications is released the same day. The Rupix app can check allotment status by PAN once the registrar publishes it.
Shares list within three working days of the issue closing. On listing day the exchanges run a special pre-open session from nine o'clock, during which orders are collected and an opening price is discovered from them; trading in the share begins after that, usually around ten. The opening price is the listing price that appears on this page once the issue has listed, and the listing gain or loss is the difference between it and the issue price.
For a mainboard issue, the share then trades in the normal way with the exchange's price band for a new listing. For an SME issue, shares trade in lots rather than one at a time, and the market can be thin, so selling on listing day is not always possible at the opening price. Capital gains on shares sold within a year of allotment are short-term and taxed at the short-term rate.
Elevate Campuses IPO was a ₹2,100 crore book-built issue, made up entirely of a fresh issue. It was priced at ₹343–₹362 per share with a lot size of 41 shares (₹14,842). The IPO was open from September 23 to September 25, 2026 and was subscribed 1.89x. Shares listed on BSE and NSE on September 30, 2026 at ₹355.10, a 1.9% discount to the issue price of ₹362. Kfin Technologies Limited is the registrar. JM Financial Ltd.
and 2 other book running lead managers manage the issue.
The price band of Elevate Campuses IPO is ₹343 to ₹362 per share.
The lot size of Elevate Campuses IPO is 41 shares.
The minimum investment for Elevate Campuses IPO is approximately ₹14,842 based on the upper price band.
The allotment date of Elevate Campuses IPO is Sep 28, 2026.
No GMP quote could be verified as recorded before Elevate Campuses IPO listed. A grey-market observation of ₹5 per share was recorded on 30 Sep 2026, 7:30 AM IST, but without a verified listing timestamp it is not treated as the final pre-listing GMP. The shares listed at ₹355.1. GMP is unofficial and does not forecast or guarantee the actual listing price.
Elevate Campuses IPO listed on Sep 30, 2026. It was issued at ₹355.1(NSE) and is currently around ₹288.85 as on 2-Nov-2026 3:30 PM, which is approximately -20.2% versus issue price. The 52-week high is ₹372.75.
You can check Elevate Campuses IPO allotment status on the registrar or stock exchange websites using your PAN or application number after allotment. You can also check the Elevate Campuses IPO allotment status on Rupix for quick and easy access.
₹343 to ₹362 per share, against a face value of ₹1. Most applicants bid at the cut-off price, the top of the band, so that the application was valid whatever price the issuer finally fixed.
One lot was 41 shares, and every application had to be a whole number of lots. At the top of the band that made the minimum application ₹14,842.
₹14,842, for one lot of 41 shares at the top of the price band. The amount was blocked in the applicant's bank account through ASBA or a UPI mandate while the issue was open, and released on the allotment date to applicants who were not allotted shares.
It opened on 23 September 2026 and closed on 25 September 2026.
The basis of allotment was published on 28 September 2026 by Kfin Technologies Limited, and allotted shares were credited to demat accounts before listing.
The shares listed on 30 September 2026 on BSE, NSE, opening at ₹355.1.
The issue size was ₹2100 crore. The fresh issue was 5,80,11,049 shares (aggregating up to ₹2100 crore).
It listed at ₹355.1 against an issue price of ₹362, a loss of 1.9 percent on listing day.