• Price Band fixed at ₹343 to ₹362 per share
  • Bid/Issue Opening Date: Wednesday, September 23, 2026
    Bid/Issue Closing Date: Friday, September 25, 2026
  • Anchor Investor Bidding Date: Tuesday, September 22, 2026
  • Minimum Bid: 41 shares and in multiples of 41 thereafter by bidders other than Anchor Investors

Mumbai: Elevate Campuses Limited (“Elevate Campuses”), the largest institutionalized and independent education platform engaged in owning, operating and managing on-campus student accommodation across higher education institutes and owning K-12 assets in India by student capacity as of June 15, 2026, is set to launch its ₹2,100 crore Initial Public Offering (IPO). The Elevate Campuses IPO will open for subscription on Wednesday, September 23, 2026, and will close on Friday, September 25, 2026.

The Anchor Investor Bidding Date shall be on Tuesday, September 22, 2026.

Bids can be made for a minimum of 41 Equity Shares and in multiples of 41 Equity Shares thereafter.

The Elevate Campuses IPO price band has been fixed at ₹343 to ₹362 per Equity Share.

The total IPO issue size is for such number of Equity Shares of face value of ₹1 each aggregating up to ₹21,000 million (₹2,100 crore).

Elevate Campuses Limited Business Overview

Elevate Campuses Limited owns, operates, and manages on-campus student accommodation across higher education institutions (HEIs) and K-12 assets. As of March 31, 2026, its current capacity enables it to cater to 80,255 students across 15 cities in India and one city in the United Arab Emirates.

The business operates under the “Good Host Spaces” and “ScholarZ” brands for student accommodation and manages K-12 assets under long-term lease arrangements with K-12 operators.

Elevate Campuses Portfolio

The Elevate Campuses portfolio comprises both owned and managed assets.

The ‘Owned Portfolio’ comprises seven student accommodation campuses totaling 20,368 beds (“Owned Beds”) across six Indian cities as of March 31, 2026, and two K-12 Assets in Dubai, UAE.

The ‘Managed Portfolio’ comprises 14 student accommodation campuses, totaling 55,487 beds under management (“Managed Beds”), as of March 31, 2026 (“Managed Portfolio”).

Together, the company’s owned and managed student accommodation portfolio forms a significant part of its institutionalized education and accommodation platform.

Elevate Campuses IPO Issue Structure

The Elevate Campuses IPO is being made through the Book Building Process in accordance with the applicable provisions of the SEBI ICDR Regulations.

At least 75% of the Issue shall be available for allocation to Qualified Institutional Buyers (QIBs), of which up to 60% of the QIB Portion may be allocated to Anchor Investors, subject to applicable regulations.

Further, not more than 15% of the Issue shall be available for allocation to Non-Institutional Investors (NIIs), with the portion further divided between applicants with application sizes of more than ₹2 lakh and up to ₹10 lakh, and those with application sizes exceeding ₹10 lakh, in accordance with the SEBI ICDR Regulations.

Not more than 10% of the Issue shall be available for allocation to Retail Individual Investors (RIIs), subject to valid bids being received at or above the Issue Price.

For further details, please refer to the sections “Issue Structure” and “Issue Procedure” beginning on pages 621 and 641 of the red herring prospectus dated September 17, 2026.

Management and Promoters

Elevate Campuses is led by an experienced management team with expertise across real estate, deal financing, operations and facility management.

The Company’s promoters are ultimately owned and controlled by funds of Hillhouse Investment, a global alternative investment manager.

Hillhouse established Rava Partners in 2020 as its real-assets strategy. Rava Partners has committed over US$3.5 billion since inception across growth sectors of Asia’s real-asset economy, including education, logistics/industrial, life sciences/healthcare and digital infrastructure.

The Elevate Campuses IPO provides investors with an opportunity to participate in the public offering of a company focused on student accommodation, higher education infrastructure and K-12 assets, with a portfolio spanning India and the United Arab Emirates.