Elevate Campuses
Owner and manager of student accommodation and K-12 school assets under the Good Host Spaces and ScholarZ brands.
Last updated 4 Oct 2026, 7:13 pm IST
- Price band
- ₹343 – ₹362
- Lot size
- 41
- Issue size
- ₹2,100 Cr (100% fresh)
- Opens
- 23 Sept 2026
- Closes
- 25 Sept 2026
- Exchange
- Both
The numbers
- GMP
- ₹2 (~0.6%) (25 Sep, final day)
- Subscription
- 0.40× (final; retail 0.38×)
- Listing gain
- NSE -1.9% (30 Sep, open)
- Listing date
- 30 Sept 2026
- Model prediction
- ~-5% expected -> Avoid. Listed -1.9% NSE (30 Sep), closed day 1 at -10.8%; call held.
Anil Singhvi's take
The Ticker Tales take
Elevate Campuses, incorporated in 2005, owns and manages student accommodation for higher-education institutions and K-12 school assets under brands like Good Host Spaces and ScholarZ — a bet on the growing need for organised campus housing in India. FY26 revenue grew 53% to ₹603.4 crore and profit nearly quadrupled to ₹173.8 crore. The entire ₹2,100 crore issue is fresh shares, so every rupee raised goes into the company rather than to existing owners. Demand stayed weak through the close, finishing around 0.40 times covered (retail 0.38 times), and the grey market premium thinned to near nothing, about ₹2, under 1% over the top of the band. That keeps this an Avoid. Expected versus actual: we expected a small loss of about 5%; it listed 1.9% down and closed the first day 10.8% lower, so the Avoid call worked.
More details
- Sector
- Education infrastructure / student housing
- FY26 PAT
- ₹173.76 Cr
- Registrar
- KFin Technologies
- Issue type
- 100% Fresh issue
- FY26 revenue
- ₹603.39 Cr
- Incorporated
- 2005
- Lead managers
- JM Financial, IIFL Capital Services, Morgan Stanley India
- Anil Singhvi - Long-term call
- Not clearly stated
- Anil Singhvi - Listing-gain call
- Not clearly stated
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Calls here follow a set formula (GMP, subscription trends) plus Anil Singhvi's publicly shared view — not investment advice. Please do your own research before investing.