Elevate Campuses IPO 2026: Date, Price Band, GMP and Details

Dates, price band, lot size, financials and full details of the Elevate Campuses Limited (formerly Good Host Spaces Limited) IPO, sourced from the company's Red Herring Prospectus (RHP).

Elevate Campuses IPO at a glance

Elevate Campuses Limited, formerly known as Good Host Spaces Limited, is bringing a Book Built Mainboard IPO worth about ₹2,100 crore. The issue is entirely a fresh issue of shares, with no Offer for Sale (OFS), so the company receives the proceeds. The IPO is open from 23 September to 25 September 2026 and is proposed to list on the BSE and the NSE.

Elevate Campuses IPO Details

Elevate Campuses IPO Timelines

Dates are tentative and may change.

Elevate Campuses IPO GMP

GMP stands for Grey Market Premium. It is the extra amount some traders are willing to pay for IPO shares in an informal market before listing, on top of the issue price. This market runs outside the stock exchanges, so the figure is unregulated, unverified, and can move sharply within a single day. A high GMP does not confirm a listing gain, and a low one does not rule it out, because it tracks short-term sentiment rather than the worth of the business. A steadier read on the IPO comes from the company's financials, how it plans to use the money, its valuation, and the risk factors set out in the Red Herring Prospectus (RHP).

About Elevate Campuses Limited

Incorporated in April 2005 (originally as Woodstock Ambience Private Limited, later Good Host Spaces Limited, and renamed Elevate Campuses Limited in September 2025), Elevate Campuses Limited is an education-infrastructure platform. It owns, operates, and manages on-campus student accommodation for higher education institutions (HEIs) in India and owns K-12 school assets in India and Dubai. It runs its student accommodation business under the Good Host Spaces and ScholarZ brands, earning income mainly from accommodation fees, rentals and leases, and management fees.

As of 31 March 2026, its portfolio could cater to 80,255 students across 15 cities in India and one city in the United Arab Emirates. This comprised an owned portfolio of 7 student accommodation campuses with 20,368 beds across 6 Indian cities, plus 2 K-12 assets in Dubai, and a managed portfolio of 14 campuses with 55,487 beds. It also had 62 retail outlets across its portfolio.

The company's promoters are Genius BidCo Holdings Pte. Ltd. and Genius Rajkot Investment Holdings Pte. Ltd.

What are the Key Strengths of Elevate Campuses (as stated in the RHP)

• An institutionalised and independent platform for owning, operating, and managing on-campus student accommodation across HEIs in India, and owning K-12 assets in India and Dubai.
• Strong operational capabilities and superior asset management expertise.
• Commitment to superior student experience and wellbeing.
• Strategically located, quality modern portfolio.
• De-risked business model with clear cash flow visibility and consistent growth and profitability.
• Highly experienced senior management team.

What the Money Will Be Used For

The IPO is entirely a fresh issue of about ₹2,100 crore, with no Offer for Sale, so all the proceeds go to the company. It plans to use the money for the following:

The K-12 Entities and Campuses are being acquired from fellow subsidiaries of the promoters.

What are the Company Financials of Elevate Campuses

Restated consolidated figures, in ₹ crore.

These figures are for the group as it stood on the date of the RHP (the company and its subsidiaries). FY 2026 profit was lifted by exceptional and fair-value gains, and the FY 2024 profit base was very small, so the profit growth rate is not a like-for-like measure. Total borrowings rose sharply as the company took on debt to fund acquisitions. 2-Yr CAGR is calculated from FY 2024 to FY 2026.

Who Can Apply

Because this IPO is being made under Regulation 6(2) of the SEBI ICDR Regulations, the offer is split as follows:

How to Apply for the Elevate Campuses IPO

You can apply online through your broker app or through your bank's net banking using the Application Supported by Blocked Amount (ASBA) facility.

1. Log in to your broker app or your bank's net banking.
2. Open the IPO section and select Elevate Campuses IPO.
3. Enter the number of lots and your bid price, or select the cut-off price.
4. Enter your Unified Payments Interface (UPI) ID, or confirm your bank account for the ASBA route.
5. Submit the application form.
6. Approve the mandate request in your UPI app to block the funds until allotment.

How to Check Allotment Status

The basis of allotment is expected to be finalised on 28 September 2026. Once it is out, you can check your allotment status in three ways. You will need your PAN, application number, or DP/Client ID.

• On the registrar's website, KFin Technologies, at the IPO status page.
• On the BSE or NSE website under the IPO allotment section.
• Inside your broker app, under orders or IPO history.

Key Risk Factors

The RHP lists several risk factors. A few of the key ones are summarised below. Please read the full RHP for the complete list.

• It proposes to use about 52.38% of the gross proceeds to acquire K-12 Entities and Campuses from fellow subsidiaries of its promoters (a related-party acquisition).
• The valuation report for the proposed acquisitions is based on assumptions and may not reflect the true value of the K-12 Entities and Campuses.
• Its revenue is concentrated among a few HEIs; its top three HEIs accounted for 61.46% of revenue from operations in FY 2026.
• Its owned-bed occupancy has declined, from 99.92% in FY 2024 to 89.37% in FY 2026.
• After the acquisitions, the group will rely on the HEIs and K-12 operators it engages with for the quality of education provided.
• It is exposed to risks associated with the development and renovation of student accommodation and K-12 assets.
• It relies on third-party vendors to deliver value-added services in its accommodations and K-12 assets.
• It has, in the past, had a period of non-compliance with the minimum shareholder requirement under the Companies Act.
• The education infrastructure industry is competitive.
• It has entered into related party transactions and may continue to do so.

Frequently Asked Questions (FAQs)

1. When does the Elevate Campuses IPO open and close?

The IPO opens on 23 September 2026 and closes on 25 September 2026.

2. What is the price band of the IPO?

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

3. What is the lot size?

One lot is 41 shares. Applications are made in multiples of 41 shares.

4. What is the minimum investment for retail investors?

The minimum investment is ₹14,842 at the upper price band (1 lot of 41 shares).

5. Is this IPO a fresh issue?

Yes. It is entirely a fresh issue of about ₹2,100 crore, with no Offer for Sale, so the company receives the proceeds.

6. When is the allotment date?

The allotment is expected to be finalised on 28 September 2026, with shares credited to demat accounts by 29 September 2026.

7. When is the listing date?

The shares are proposed to be listed on the BSE and the NSE on 30 September 2026 (tentative).

8. What does Elevate Campuses do?

It is an education-infrastructure platform that owns, operates, and manages on-campus student accommodation for higher education institutions and owns K-12 school assets in India and Dubai, under the Good Host Spaces and ScholarZ brands.

9. What is the GMP of the Elevate Campuses IPO?

GMP, or Grey Market Premium, is an informal pre-listing price that sits outside the stock exchanges and is neither regulated nor verified. It shifts with day-to-day sentiment and does not confirm how the shares will list. A more reliable picture comes from the company's financials, valuation, and the risks in the RHP.

Read the full Red Herring Prospectus (RHP): View the full RHP filed with SEBI and the exchanges.

Disclaimer: This page is for informational purposes only and is not investment advice, a recommendation, or an offer to buy or sell any securities. All figures are sourced from the company's Red Herring Prospectus and public filings and may change. Investments in securities are subject to market risks. Please read all offer documents carefully and consult a registered financial advisor before making any investment decision.