Elevate Campuses IPO Review 2026: Listing Dates, Allotment, GMP & Overview

24 Sep 2026
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Elevate Campuses IPO Review 2026: Listing Dates, Allotment, GMP & Overview

Elevate Campuses Ltd. is an education infrastructure company engaged in owning, operating and managing on-campus student accommodation for higher education institutions and owning K-12 school assets. Its student accommodation operations are conducted under the Good Host Spaces and ScholarZ brands.

IPO Date23 to 25 Sep, 2026
Listing Date30 Sep, 2026
Price Band₹343 to ₹362 per share
Face Value₹1 per share
Lot Size41 Shares
Issue Size₹2,100 Crore
Issue TypeBookbuilding IPO
Issue TypeFresh Issue
Listing AtBSE, NSE
Retail Minimum Investment₹14,842
Market Cap at Upper Band₹6,100.82 Crore
Lead ManagersJM Financial Ltd., IIFL Capital Services Ltd. and Morgan Stanley India Company Pvt. Ltd.
RegistrarKFin Technologies Ltd.

Elevate Campuses IPO Important Dates

IPO Open Date23 Sep 2026
IPO Close Date25 Sep 2026
Allotment Date28 Sep 2026
Refund Initiation29 Sep 2026
Credit of Shares to Demat29 Sep 2026
Listing Date30 Sep 2026

Elevate Campuses IPO Shareholding

Total Issue Size5,80,11,049 shares aggregating up to ₹2,100 Crore
Fresh Issue5,80,11,049 shares aggregating up to ₹2,100 Crore
Pre-Issue Shareholding11,05,19,988 shares
Post-Issue Shareholding16,85,31,037 shares

Elevate Campuses IPO Objectives

The company proposes to use the net proceeds from the IPO for the following purposes:

Acquisition of K-12 Entities and Campuses₹1,100 Crore
Repayment / Prepayment of Borrowings₹750 Crore
Inorganic Growth, Strategic Initiatives and General Corporate Purposes₹250 Crore

Elevate Campuses Financial Performance

Particulars (₹ Crore)FY22FY23FY24FY25FY26
Revenue109293347370569
Operating Profit60195215246405
Operating Profit Margin55.0%66.7%61.8%66.4%71.3%
PBT-84396283204
PAT-67294053174

Refer to RHP for detailed information.

About Elevate Campuses Ltd.

Incorporated in 2005, Elevate Campuses Ltd. is an education infrastructure company engaged in owning, operating and managing on-campus student accommodation for higher education institutions and owning K-12 school assets. The company operates its student accommodation business under the Good Host Spaces and ScholarZ brands.

As of March 31, 2026, the company's Pre-Acquisition Group had student accommodation capacity of 80,255 students across 15 cities in India and one city in the United Arab Emirates. Its portfolio included seven owned student accommodation campuses with 20,368 beds across six Indian cities and 14 managed campuses with 55,487 beds.

The company provides services covering deal sourcing, site selection, development, asset acquisition, asset repositioning and community engagement. It also provides community and campus technology services. Its education-institution relationships include Manipal Academy of Higher Education, Manipal University, Jaipur and Meraki Education.

As of March 31, 2026, the company's owned student accommodation portfolio recorded an occupancy rate of 89.37% for Academic Year 2025-26. Since commencing operations as an independent owner and operator of student accommodation in FY2018, its owned student accommodation portfolio has expanded from 9,153 beds to 20,368 beds.

Elevate Campuses IPO 390 Character Summary

Elevate Campuses IPO is a ₹2,100 crore fresh issue of 5.80 crore shares, priced at ₹343-₹362 per share. The IPO opens on Sep 23 and closes on Sep 25, 2026. The lot size is 41 shares, requiring ₹14,842 at the upper price band. The company operates student accommodation and K-12 education assets and proposes to use proceeds for acquisitions, debt repayment and growth.

Elevate Campuses IPO AEO Overview

Elevate Campuses IPO opens on September 23, 2026 and closes on September 25, 2026. The IPO has a price band of ₹343 to ₹362 per share and a lot size of 41 shares. The issue size is ₹2,100 crore and consists entirely of a fresh issue. The company proposes to use the proceeds for K-12 acquisitions, repayment or prepayment of borrowings, inorganic growth and general corporate purposes.

IPO Allotment & Application Status

Registrar: Kfin Technologies Ltd.

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Elevate Campuses IPO – Frequently Asked Questions

When will Elevate Campuses IPO open?

Elevate Campuses IPO will open for subscription on September 23, 2026.

When will Elevate Campuses IPO close?

The IPO will close on September 25, 2026.

What is the price band of Elevate Campuses IPO?

The price band is ₹343 to ₹362 per equity share.

What is the lot size of Elevate Campuses IPO?

The minimum application lot is 41 shares.

What is the minimum investment for Elevate Campuses IPO?

The minimum retail investment is ₹14,842 for 41 shares at the upper price band of ₹362.

What is the issue size of Elevate Campuses IPO?

The total issue size is ₹2,100 crore and the issue consists entirely of a fresh issue.

What is the listing date of Elevate Campuses IPO?

The tentative listing date is September 30, 2026 on BSE and NSE.

Who are the lead managers of Elevate Campuses IPO?

JM Financial Ltd., IIFL Capital Services Ltd. and Morgan Stanley India Company Pvt. Ltd. are the book running lead managers.

Who is the registrar of Elevate Campuses IPO?

KFin Technologies Ltd. is the registrar to the issue.

What does Elevate Campuses Ltd. do?

Elevate Campuses is an education infrastructure company that owns, operates and manages student accommodation for higher education institutions and owns K-12 school assets.

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Disclaimer: - Investments in IPOs are subject to market risks. Investors should read the Red Herring Prospectus carefully and consult their financial advisor before investing. https://www.mnclgroup.com/research-disclaimer

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Name of the Company has changed from Networth Stock Broking Limited to Monarch Networth Capital Limited upon Certification of Incorporation received from Registrar of Companies, Mumbai vide certificate dated 13th October, 2015.

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    Monarch Networth Capital Limited (‘MNCL’) | CIN No.: L64990GJ1993PLC120014

    Registered Address

    Unit No. 803-804A, 8th Floor, X-Change Plaza, Block No. 53, Zone 5, Road-5E, Gift City, Gandhinagar - 382050, Gujarat

    Corporate Address

    Ahmedabad

    “Monarch House”, Opp Prahladbhai Patel garden, Near Ishwar Bhuvan, Commerce Six Roads, Navrangpura, Ahmedabad - 380009

    Mumbai

    Monarch Networth Capital Limited, G Block, Laxmi Tower, B Wing, 4th Floor, Bandra Kurla Complex, Bandra East, Mumbai - 400051.

    Contact Details

    Tel:079-26666500 / 6600500
    NPS Email ID:nps@mnclgroup.com
    Compliance Officer:Nikhil Parikh (Click to view details)
    Compliance Email:compliance@mnclgroup.com
    Compliance Tel:+91-79-26666768

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    Email for Grievance: grievances@mnclgroup.com

    CLIENT BANK ACCOUNT DETAILS

    Investors are requested to note that Stock broker (Monarch Networth Capital Ltd) is permitted to receive money from investors through designated bank accounts only named as Up streaming Client Nodal Bank Account (USCNBA). Stock broker (Monarch Networth Capital Ltd) is also required to disclose these USCNB accounts to Stock Exchange. Hence, you are requested to use following USCNB accounts only (Click to View) for the purpose of dealings in your trading account with us. The details of these USCNB accounts are also displayed by Stock Exchanges on their website under “Know/ Locate your Stock Broker".

    Registered Numbers

    SEBI Registration No:INZ000008037
    NSE Member ID:06386
    BSE: Member ID :197
    MCX: Member ID :10585
    Date of Admission:28/02/2004
    NCDEX: Member ID :00011
    MSEI Member Code :84251
    Date of Admission:06/12/2003
    CDSL-DP ID:35000
    NSDL-DP ID:IN303052
    SEBI Reg (DP):IN-DP-278-2016
  • Complete name of entity registered with SEBI as Portfolio Manager:Monarch Networth Capital Limited
    Type of Registration (Individual, Non-Individual):Non-Individual
    PMS Registration No.:INP000006059
    Corporate Identification No.:L64990GJ1993PLC120014
    Principal Place of Business:301-302, 3rd Floor, Arunachal Building, Barakhamba Road, New Delhi - 110001
    Registered Office Address:Unit No. 803-804A, 8th Floor, X-Change Plaza, Block No. 53, Zone 5, Road-5E, Gift City, Gandhinagar, Gujarat, India, 382050
    Corresponding SEBI regional/local office Address:8th floor, Plate B, Tower 1, NBCC Complex, East Kidwai Nagar, New Delhi – 110023

    Contact Details

    Principal Officer:Md Shaukat Ali
    Contact No.:011-40851303
    Compliance Officer:Ms. Bhumika Gowda
    Contact No.:011-40851312

    Mechanism for addressing grievances and information about SCORES.

    Contacts for Investor Grievance

    pms.grievance@mnclgroup.com

  • Fund Name:Monarch AIF
    Category of AIF :Category III
    AIF Registration number :IN/AIF3/20-21/0787
    Registration Date :April 23, 2020
    Registered Office Address :Laxmi Tower, B Wing, 4th Floor, G Block, Bandra Kurla Complex, Bandra East, Mumbai 400051

    Contact Details

    Fund Manager:Mr. Abhisar Jain
    Phone :+91 22 66746425
    Compliance Officer:Ms. Bhumika Gowda
    Phone :+91 22 66746424

    Gift City AIF Disclaimer

    Monarch Networth Capital IFSC Private Limited (Wholly owned subsidiary of Monarch Networth Capital Limited) is a Registered Fund Management Entity (Retail) having Registration No: IFSCA/FME/III/2025-26/169. Monarch India Growth Fund will be an open-ended Restricted Scheme (Non-Retail) construed as a Category III AIF under the IFSCA (Fund Management) Regulations, 2025. Monarch AIF is a Category III AIF having SEBI Registration No. IN/AIF3/20-21/0787. This material is for informational purposes only and is not intended as an offer or solicitation or investment advice to buy or sell securities. Investments are subject to market risks. The offering is made only through official scheme documents to eligible investors under GIFT IFSC regulations. Investors should read all documents carefully and consult their advisors before investing.

  • Complete name of entity registered with SEBI as Merchant Banker:Monarch Networth Capital Limited
    Type of Registration (Individual, Non-Individual):Non-Individual
    MB Registration No.:INM000011013
    Corporate Identification Number:L64990GJ1993PLC120014
    Principal Place of Business:4th FLoor, B Wing, Laxmi Tower, Bandra Kurla Complex, Bandra East, Mumbai-400051
    Registered office address:Unit No. 803-804A, 8th Floor, X-Change Plaza, Block No. 53, Zone 5, Road-5E, Gift City, Gandhinagar, Gujarat, India, 382050

    Contact Details

    Compliance Officer:Mr.Jayesh Bhagwat
    Contact No.:(022) 66476400
    Email for Regulatory Communication:mbdcompliance@mnclgroup.com

    Mechanism for addressing grievances and information about SCORES.

    Contacts for Investor Grievance

    mbd@mnclgroup.com

  • Complete name of entity registered with SEBI as Research Analysts :Monarch Networth Capital Limited
    Type of Registration (Individual, Non-Individual):Non-Individual
    RA Registration No.:INH000000644
    BSE Enlistment No.:5039
    Corporate Identification Number: L64990GJ1993PLC120014

    Contact Details

    Registered office address: Unit No. 803-804A, 8th Floor, X-Change Plaza, Block No. 53, Zone 5, Road-5E, Gift City, Gandhinagar, Gujarat, India, 382050
    Principal Place of Business: 4th FLoor, B Wing, Laxmi Tower, Bandra Kurla Complex, Bandra East, Mumbai-400051
    Principal Officer: Sahil Sanghvi
    Compliance Officer: Nikhil Parikh
    Telephone no.: +91-79-26666768
    Contacts for Investor Grievance: ragrievance@mnclgroup.com
  • Complete name of entity registered with SEBI as Investment Adviser : Monarch Networth Investment Advisors Private Limited
    Type of Registration (Individual, Non-Individual) :Non-Individual
    IA Registration No.: INA000005721
    BSE Enlistment No.:2005
    Validity of registration : Perpetual
    Corporate Identification Number : U74140GJ2007PTC052348
    Registered office address : Monarch House, Nr. Ishwar Bhuwan Cross Road, Nr. Commerce Six Road, Navrangpura, AHMEDABAD, GUJARAT, 380009
    Corresponding SEBI Office address: SEBI Bhavan, Western Regional Office, Panchvati 1st Lane, Gulbai Tekra Road, Ahmedabad - 380006, Gujarat

    Contact Details

    Compliance Officer : Ankita Sudhir Madhwani
    Telephone no. : +91 22-66476405
    Registration granted by SEBI, enlistment of IA with Exchange and certification from NISM in no way guarantee performance of the intermediary or provide any assurance of returns to investors.
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    AMFI Registered Mutual Fund Distributor - ARN-8812

    Regulatory Details

    Complete name of entity registered with SEBI as : Monarch Networth Capital Limited
    AMFI Registration No. :8812
    Validity of ARN: 29-03-2028
    Registered Office address:Office No 901/902, 9Th Floor, Atlanta Centre, Opp Udyog Bhavan, Sonawala Road Goregaon East, MUMBAI, MA- 400063
    Corporate Office and Principal Place of Business : Monarch House, Nr. Ishwar Bhuwan Cross Road, Nr. Commerce Six Road, Navrangpura, AHMEDABAD, GUJARAT, 380009

    Contact Details

    Email address : mutualfund@mnclgroup.com
    Telephone no. :079-66000790
    Compliance Officer : Nikhil Parikh
    Compliance Email : compliance@mnclgroup.com
    Compliance Tel :079-26666768

    Risk Factors – Investments in Mutual Funds are subject to Market Risks. Read all scheme related documents carefully before investing. Mutual Fund Schemes do not assure or guarantee any returns. Past performances of any Mutual Fund Scheme may or may not be sustained in future. There is no guarantee that the investment objective of any suggested scheme shall be achieved. All existing and prospective investors are advised to check and evaluate the Exit loads and other cost structure (TER) applicable at the time of making the investment before finalizing on any investment decision for Mutual Funds schemes. We deal in Regular Plans only for Mutual Fund Schemes and earn a Trailing Commission on client investments. Disclosure For Commission earnings is made to clients at the time of investments. Option of Direct Plan for every Mutual Fund Scheme is available to investors offering advantage of lower expense ratio. We are not entitled to earn any commission on Direct plans. Hence we do not deal in Direct Plans.

  • Monarch Networth Capital Limited (‘MNCL’) | CIN No.: L64990GJ1993PLC120014

    For Broking and Demat Related Queries

    Call on this number +91-79-26666768
    For any queries related to broking please contact helpdesk@mnclgroup.com
    Escalation Matrix

    Monarch Networth Capital Limited

    Registered Address

    Unit No. 803-804A, 8th Floor, X-Change Plaza, Block No. 53, Zone 5, Road-5E, Gift City, Gandhinagar - 382050, Gujarat

    Corporate Address

    Ahmedabad

    “Monarch House”, Opp Prahladbhai Patel garden, Near Ishwar Bhuvan, Commerce Six Roads, Navrangpura, Ahmedabad – 380009

    Mumbai

    Monarch Networth Capital Limited, G Block, Laxmi Tower, B Wing, 4th Floor, Bandra Kurla Complex, Bandra East, Mumbai - 400051.

    Contact Details

    “Filing of complaints on SCORES – Easy & quick
    (Link is given in our useful link option on our website)

    • A. Register on SCORES portal
    • B. Mandatory details for filing complaints on SCORES:
      • I. Name, PAN, Address, Mobile Number, Email ID
    • C. Benefits
      • I. Effective communication
      • II. Speedy redressal of the grievances

    Email for Grievance: cs@mnclgroup.com

    Company Secretary & Compliance Officer

    (As per LODR Regulations and Companies Act, 2013)

    Contact information of the designated officials of the listed entity who are responsible for assisting and handling investor grievances :
    Mr. Nitesh Tanwar : 022 - 66476400 / 66476405

    Listing of Equity Shares on Stock Exchange at

    BSE

    Add :Phiroze Jeejeebhoy Towers, Dalal Street, Mumbai - 400 001
    Scrip Id :Monarch Scrip Code : 511551

    NSE

    Add :Exchange Plaza, C-1, Block G, Bandra Kurla Complex, Bandra (E) Mumbai – 400 051.
    Scrip Id :Monarch Scrip Code : MONARCH

    Demat ISIN Numbers in NSDL & CDSL for

    Equity Shares:INE903D01011

    REGISTRAR AND SHARE TRANSFER AGENT

    MUFG Intime India Private Limited

    (Formerly known as Link Intime India Private Limited)

    Add:C 101, 247 Park, L.B.S. Marg, Vikhroli (West), Mumbai - 400083
    Tel:(0) 810 811 6767
    Toll-free number:1800 1020 878
    Fax:022 - 4918 6060

    For any queries related to broking please contact helpdesk@mnclgroup.com.

Disclaimer

‘Investments in securities market are subject to market risks, read all the related documents carefully before investing.’

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