Elevate Campuses debuts at discount, valued at $625 million
Lists at 1.9% discount to ₹362 issue price; valued at ₹5,995 crore
Indian student housing firm Elevate Campuses made a muted stock market debut on Wednesday, as investors weighed the company’s growth prospects against elevated debt and revenue concentration. The stock was trading at ₹362.50 at 10:15 am IST after listing at ₹355.10 on the National Stock Exchange of India, a 1.9 per cent discount to its issue price of ₹362 per share. The listing values the company at ₹5,995 crore ($624.74 million), below its IPO valuation of around ₹6,100 crore.
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