Niva Market Watch

Elevate Campuses Limited IPO

listed · NSE · Bookbuilding IPO

Elevate Campuses Limited IPO was a ₹2,100 crore book-built issue on NSE with a price band of ₹343–₹362 per share, open for bidding from 23 Sep 2026 to 25 Sep 2026.

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Company overview

Website
https://www.elevatecampuses.com/

IPO overview

Elevate Campuses Limited raised ₹2,100 crore through a book-built issue, made up entirely of new shares, so the proceeds go to the company.

Bids were accepted within a price band of ₹343–₹362 per share (face value ₹1); the final issue price is set within this band after bidding closes.

The shares listed on NSE on 30 Sep 2026.

JM Financial Ltd. was the book-running lead manager and Kfin Technologies Ltd. is the registrar, which processes applications, allotment and refunds.

Stated objects of the issue: Payment of the purchase consideration for the acquisition of the K-12 Entities and Campuses Repayment and/ or prepayment, in full or in part, of certain outstanding borrowings and prepayment penalties, as applicable of availed by Company and certain of Subsidiaries, namely GHS Shoolini, GHS Sonipat, Souk HIS UAE and Souk NLCS UAE, through investment in such Subsidiaries Funding inorganic growth through unidentified acquisitions, other strategic initiatives and general corporate purposes,.

Issue type
Bookbuilding IPO
Issue structure
Fresh capital only
Issue size
₹2,100 crore
Price
₹343–₹362 per share
Face value
₹1 per share
Exchange
NSE
Lead manager
JM Financial Ltd.
Registrar
Kfin Technologies Ltd.

IPO timeline

  1. Bidding opens 23 Sep 2026
  2. Bidding closes 25 Sep 2026
  3. Basis of allotment 28 Sep 2026
  4. Refunds / unblocking 29 Sep 2026
  5. Shares credited to demat 29 Sep 2026
  6. Listing 30 Sep 2026

Bidding ran from 23 Sep 2026 to 25 Sep 2026.

After bidding, the basis of allotment was due on 28 Sep 2026, refunds / unblocking of funds were due on 29 Sep 2026 and shares were due to be credited to demat accounts on 29 Sep 2026.

The shares listed on 30 Sep 2026.

Subscription summary

By the close of bidding, the issue was subscribed 1.79× overall (last figure recorded 25 Sep 2026).

By category: qualified institutional buyers (QIB) 2.52×, non-institutional investors (NII) 0.84× and retail investors 1.01×.

Recorded day by day: 23 Sep 0.21×, 24 Sep 0.24× and 25 Sep 1.79×.

Bids were received for 1.79× the shares available, so not every applicant in an oversubscribed category will receive shares.

CategorySubscribed (as of 25 Sep 2026)
QIB2.52×
NII0.84×
Retail1.01×
Overall1.79×

Grey market premium (unofficial)

The last grey market premium (GMP) we recorded for this issue was ₹6.50 on 29 Sep 2026, equal to 1.8% of the upper price band.

Across 8 readings between 22 Sep 2026 and 29 Sep 2026, the quoted GMP ranged from ₹2.50 to ₹10.

We do not yet record actual listing prices, so this page does not compare the GMP with where the shares opened.

  • GMP is unofficial: it is not published or verified by NSE, BSE or SEBI, changes quickly, and is not a forecast or guarantee of the listing price.

Allotment

The basis of allotment was due on 28 Sep 2026. Applicants can check their status using their PAN, application number or demat account details.

The registrar, Kfin Technologies Ltd., processes allotment; check status on its website or the exchange's application-status page.

Offer documents

Where the offer document differs from any figure on this page, the document prevails.

Sources and data methodology

NSE & BSE public-issue data; Chittorgarh and InvestorGain (fill gaps only); InvestorGain live subscription report (third-party); InvestorGain grey market report (unofficial); Chittorgarh allotment calendar. Methodology · Report an error

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