Elevate Campuses IPO | The company’s first public offering is a completely new offering that does not include an offer-for-sale element.
Elevate Campuses, a professionally managed on-campus student housing provider based in Mumbai and supported by Hillhouse Investment, a global alternative investment manager with headquarters in Singapore, has submitted a draft red herring prospectus to SEBI in order to raise Rs 2,550 crore through an initial share sale.
The initial public offering, or IPO, is a brand-new offering by the business that does not include an offer-for-sale element.
Before submitting a red herring prospectus with the Registrar of Companies for the IPO launch, it may think about collecting up to Rs 510 crore in pre-IPO placement as part of a new issue.
Genius Bidco Holdings and Genius Rajkot Investment Holdings, both of which are under the ownership of Genius Assetco Holdings, are the owners of Elevate Campuses. Additionally, Hillhouse Investment funds eventually own Genius Assetco Holdings.
With a portfolio of owned and managed assets totaling 66,272 beds as of August 2025, the company claims to be the largest independent and institutionalized education platform in India. It also manages on-campus student housing across HEIs (higher education institutions) and owns K-12 assets.
Elevate Campuses plans to acquire K-12 organizations and campuses using the Rs 1,100 crore revenues from the first public offering. Currently, the K-12 HoldCos own the K-12 entities and campuses, while Hillhouse Investment funds indirectly own and control them.
By owning and managing on-campus student housing across HEIs and controlling K-12 assets in India by student capacity, the business claimed that the planned purchase would make it the biggest institutionalized and autonomous education platform.
Additionally, Rs 750 crore would go towards debt repayment, with the remaining IPO cash going towards general business needs, other strategic initiatives, and inorganic development via unnamed acquisitions.
The corporation and its subsidiaries owed a total of Rs 1,432.1 crore in outstanding debt as of August 2025.
Financially speaking, Elevate Campuses declared a profit of Rs 52.65 crore for the year that ended in March 2025, a 32.7 percent increase over the previous year’s profit of Rs 39.7 crore. Over the same time period, revenue increased from Rs 347 crore to Rs 369.8 crore, a 6.6 percent increase.
Morgan Stanley India Company, IIFL Capital Services, and JM Financial are the book running lead managers in charge of the Elevate Campuses IPO.