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Elevate Campuses Raises Rs 945 Crore from Anchor Investors Ahead of Rs 2,100 Crore IPO
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Moneycontrol•22-09-2026, 21:25
Elevate Campuses Raises Rs 945 Crore from Anchor Investors Ahead of Rs 2,100 Crore IPO
- •Elevate Campuses, India's largest on-campus student accommodation provider, secured Rs 945 crore from 40 anchor investors.
- •The Rs 2,100-crore IPO opens for public subscription on September 23, with shares issued at Rs 362 each.
- •Eight domestic mutual funds, including SBI Mutual Fund and HDFC AMC, were allotted Rs 600 crore worth of shares.
- •Global investors like Citigroup and BofA Securities also participated in the anchor book.
- •Proceeds will fund K-12 entity acquisitions (Rs 1,100 crore), debt repayment (Rs 750 crore), and inorganic growth.
Key Questions Answered
Elevate Campuses raised Rs 945 crore from 40 anchor investors by issuing 2.61 crore equity shares at the upper end of its price band of Rs 343-362 per share ahead of its Rs 2,100-crore IPO.
The anchor book allocation took place on September 22, and the Rs 2,100-crore IPO opens for public subscription on September 23, remaining open until September 25.
The company intends to use Rs 1,100 crore to acquire K-12 entities and campuses from promoter affiliates, Rs 750 crore to repay debt, and the remainder for inorganic growth and corporate purposes.
