Elevate Campuses Ltd.

Elevate Campuses Ltd. (Detailed Profile,IPO & Business Overview)

1. Corporate Profile & Rebranding History

Elevate Campuses Limited (formerly known as Good Host Spaces Limited and originally incorporated on April 8, 2005, as Woodstock Ambience Private Limited) is one of India’s leading education-infrastructure companies. Headquartered in Mumbai, Maharashtra, the company specializes in owning, operating, and managing on-campus student accommodation for Higher Education Institutions (HEIs), as well as owning and leasing K-12 school infrastructure assets. The company is promoted by institutional investors Genius Bidco Holdings Pte. Ltd. and Genius Rajkot Investment Holdings Pte. Ltd.

2. Core Brands & Platform Operations

The company operates its flagship student housing and accommodation vertical under two distinct market brands:

• Good Host Spaces: Focuses on premium, purpose-built, on-campus student housing offering modern living, dining, and safety infrastructure.

• ScholarZ: Focuses on scalable, technology-driven student housing solutions across partner institutions.

Through its integrated Elevate Platform, the company bridges the entire student lifecycle—from K-12 schooling facilities to higher education accommodation.

3. Operational Network & Geographic Footprint

As of March 31, 2026, the Pre-Acquisition Group of the company recorded the following scale:

• Student Capacity: Capable of housing 80,255 students across 15 cities in India and 1 international market (United Arab Emirates).

• Owned Portfolio: 7 owned student accommodation campuses comprising 20,368 beds across 6 key Indian cities.

• Managed Portfolio: 14 managed student accommodation campuses housing 55,487 beds.

• Portfolio Expansion: Since establishing itself as an independent student housing owner and operator in FY 2018, the owned bed capacity has scaled from 9,153 beds to 20,368 beds as of March 31, 2026.

• Occupancy Efficiency: The owned student accommodation portfolio maintained an exceptionally high occupancy rate of 89.37% for the Academic Year 2025–26.

4. End-to-End Operational & Strategic Services

Elevate Campuses Ltd. manages the full asset lifecycle of education infrastructure:

• Asset Lifecycle Management: Land and deal sourcing, campus site selection, greenfield development, strategic asset acquisition, and commercial asset repositioning.

• Student Experience & Community Services: High-security campus management, dining/catering operations, recreational facilities, and community engagement initiatives.

• Campus Technology & Digital Services: Proprietary campus management apps, community Wi-Fi infrastructure, student safety software, and media coverage of events for partnered institutions.

5. Key Educational Partnerships & Workforce

• Institutional Collaborations: Long-term agreements with top educational groups including Manipal Academy of Higher Education (MAHE), Manipal University Jaipur (MUJ), and Meraki Education.

• Human Resources: As of March 31, 2026, the company employed 460 full-time employees overseeing operations, facility management, technology development, and security protocols across all locations.

 Elevate Campuses Ltd. IPO – Detail Breakdown

DRHP

1. Important Dates (Timetable)

• IPO Opening Date: Wednesday, September 23, 2026

• IPO Closing Date: Friday, September 25, 2026

• Basis of Allotment: Monday, September 28, 2026

• Initiation of Refunds: Tuesday, September 29, 2026

• Credit of Shares to Demat: Tuesday, September 29, 2026

• Listing Date: Wednesday, September 30, 2026

2. Issue & Offer Details

• Issue Type: Book Built Issue IPO

• Total Issue Size: ₹2,100.00 Crore (5,80,11,049 Equity Shares)

• Fresh Issue: ₹2,100.00 Crore (5,80,11,049 Equity Shares)

• Offer for Sale (OFS): None (Entirely Fresh Issue)

• Price Band: ₹343 to ₹362 per share

• Face Value: ₹1 per share

• Lot Size: 41 Shares

• Stock Exchange Listing: BSE, NSE

3. Investment Breakdown (Lot Size & Categories)

• Retail Minimum Application: 1 Lot (41 Shares) – ₹14,842

• Retail Maximum Application: 13 Lots (533 Shares) – ₹1,92,946

• Small HNI (S-HNI) Minimum: 14 Lots (574 Shares) – ₹2,07,788

• Small HNI (S-HNI) Maximum: 67 Lots (2,747 Shares) – ₹9,94,414

• Big HNI (B-HNI) Minimum: 68 Lots (2,788 Shares) – ₹10,09,256

4. Category Reservations

• Qualified Institutional Buyers (QIB): Not less than 75% of the Issue

• Non-Institutional Investors (NII/HNI): Not more than 15% of the Issue

• Retail Individual Investors (RII): Not more than 10% of the Issue

5. Capital Structure & Shareholding

• Pre-Issue Shareholding: 11,05,19,988 Shares

• Post-Issue Shareholding: 16,85,31,037 Shares

• Promoters: Genius Bidco Holdings Pte. Ltd. and Genius Rajkot Investment Holdings Pte. Ltd.

• Pre-IPO Promoter Holding: 100%

• Post-IPO Promoter Holding: 65.58%

• Post-IPO Public Holding: 34.42%

6. Company Overview & Business Model

• Incorporation Year: 2005

• Core Business: Education infrastructure company that owns, operates, and manages on-campus student accommodation for Higher Education Institutions (HEIs) and owns K-12 school assets.

• Brands: Operates student housing under Good Host Spaces and ScholarZ.

• Scale of Operations (as of March 31, 2026):

  • Capacity: 80,255 students across 15 Indian cities and 1 city in the UAE.

  • Owned Assets: 7 campuses (20,368 beds) with an 89.37% occupancy rate.

  • Managed Assets: 14 campuses (55,487 beds).

• Key Partners: Manipal Academy of Higher Education, Manipal University Jaipur, and Meraki Education.

• Employee Base: 460 full-time employees.

7. Financial Highlights (Restated Consolidated)

(Amount in ₹ Crore)

• Growth Metrics: Year-on-year revenue grew by 53%, and Profit After Tax (PAT) surged by 249% in FY 2025-26.

8. Key Performance Indicators (KPIs) & Valuation

• EBITDA Margin: 90.32% (FY26)

• PAT Margin: 28.80% (FY26)

• Return on Equity (RoNW): 18.17% (FY26)

• Return on Capital Employed (ROCE): 6.42% (FY26)

• Debt / Equity Ratio: 4.98

• Pre-IPO EPS: ₹15.72

• Post-IPO EPS: ₹10.31

• Pre-IPO P/E Ratio: 23.03x

• Post-IPO P/E Ratio: 35.11x

• Post-Issue Market Cap: ₹6,100.82 Crore (at upper price band)

9. Objects of the Issue (Use of Proceeds)

1. Acquisitions: ₹1,100.00 Cr for purchasing consideration towards K-12 Entities and Campuses.

2. Debt Repayment: ₹750.00 Cr for full or partial repayment/prepayment of borrowings availed by the company and its subsidiaries (GHS Shoolini, GHS Sonipat, Souk HIS UAE, Souk NLCS UAE).

3. Growth & Corporate Expenses: Remaining balance allocated for inorganic strategic growth and general corporate purposes.

10. Key Entities & Contact Details

• Book Running Lead Managers:

  • JM Financial Ltd.

  • IIFL Capital Services Ltd.

  • Morgan Stanley India Company Pvt. Ltd.

• Registrar of the Issue:

  • Kfin Technologies Ltd.

  • Phone: 040-79615565

  • Email: Elevatecampuses.ipo@kfintech.com

• Company Registered Office:

  • Elevate Campuses Ltd., Naman Midtown, Unit No 902-906, 9th Floor, Tower B, Senapati Bapat Marg, Lower Parel, Mumbai, Maharashtra, 400013.

  • Email: companysecretary@elevatecampuses.com