Elevate Campuses To Invest ₹601 Crore In Wholly-Owned UAE Subsidiary
Mumbai: Elevate Campuses Limited has signed a securities subscription agreement to invest USD 6,20,15,000.25 (approximately ₹601 crore) in its material wholly-owned subsidiary, Elevate UAE Assetco Holdings Pte. Ltd. (Elevate UAE). Investment Details The investment involves subscribing to 59,061,905 Class A Optionally Convertible Redeemable Preference Shares (OCRPS) to be issued by Elevate UAE.…
Elevate Campuses Limited has committed to investing ₹601 crore ($6,20,15,000.25) in its wholly-owned subsidiary, Elevate UAE Assetco Holdings Pte. Ltd. (Elevate UAE), based in Singapore. The investment, made through the subscription of 59,061,905 Class A Optionally Convertible Redeemable Preference Shares (OCRPS), is part of the company's broader strategy to manage its financial obligations.
Elevate UAE currently holds a net worth of ₹1197,81,76,811 as of March 2026, with no reported turnover for the past three financial years. This strategic move, announced alongside the company's ₹2,100-crore Initial Public Offering (IPO), is designed to help prepay or repay outstanding borrowings from Souk HIS Holdings Limited, a step-down subsidiary of Elevate UAE.
The transaction, which is a related party deal, is exempt from prior approval requirements due to its arm's length nature. The closing of this investment is expected by October 2026.
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