Student housing platform Elevate Campuses to raise ₹2,100 crore via IPO

Hillhouse Investment backed Elevate Campuses Ltd, an education platform owning, operating and managing on-campus student accommodations across private higher education institutions (HEIs) and K-12 assets, is planning to raise ₹2,100 crore through an Initial Public Offer (IPO) at a price band of ₹343 to ₹362 per share with face value of ₹1.

It will be the first student housing REIT type platform to be listed in India.

Bids will open on Wednesday (September 23, 2026) and close on Friday (September 25, 2026).

The net proceeds will be used to buy 14 K-12 entities/campuses in India and Dubai from promoter group companies, the repay debt and for unidentified acquisitions.

As of March 31, 2026, the company’s current capacity enables to cater to 80,255 students across 15 cities in India and one city in United Arab Emirates namely Dubai.