Elevate Campuses fixes IPO price band at ₹343-362 a share
The issue will open for subscription on September 23
Elevate Campuses, a company specializing in managing hotel facilities for universities and colleges, is set to raise ₹2,100 crore through an initial public offering. The IPO price is fixed at ₹343 to ₹362 per share. The company plans to issue 5.80 crore new shares, with no offer for sale component. The subscription for the issue opens on September 23, allowing retail investors to apply for a minimum of 41 shares in multiples.
The proceeds from the issue will be used for acquiring K-12 entities and campuses from fellow subsidiaries, repaying partial outstanding borrowings, and funding inorganic growth through acquisitions and strategic initiatives. Elevate Campuses currently manages hostels for students, providing 17 course meals and a dedicated app for service requirements.
The company owns K-12 education assets and operates under the "Good Host Spaces" and "ScholarZ" brands. With a portfolio of owned and managed assets, Elevate Campuses has a strong presence in India and the UAE, catering to 80,255 students across 15 cities in India and one city in the UAE.
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