Elevate Campuses sets ₹2,100-crore IPO for September 23 with price band of ₹343–₹362

Mumbai: Elevate Campuses Ltd, a student accommodation and K-12 education platform backed by Hillhouse Capital, will launch its ₹2,100-crore initial public offering on September 23.The company has fixed the Elevate Campuses IPO price band at ₹343 to ₹362 per equity share. At the upper end of the range, the company is expected to command a valuation of more than ₹6,100 crore.The three-day IPO will close for subscription on September 25. The company’s shares are expected to make their stock market debut on September 30.Entirely a fresh share issueAccording to the Red Herring Prospectus, the IPO will comprise entirely a fresh issue of equity shares. There will be no offer-for-sale component, meaning existing shareholders will not sell their stakes through the public issue.NSE IPO Turns Rs 59 Crore Bet Into Big Payday, Soach Global Eyes Nearly 25 Times Return Elevate Campuses plans to use the IPO proceeds to acquire K-12 education entities and campuses. A portion of the funds will also be used to repay debt and meet general corporate requirements.The fresh capital could help the company expand its education infrastructure and strengthen its balance sheet.Student housing and education businessElevate Campuses owns, operates and manages on-campus student accommodation facilities for higher education institutions. It also owns assets in the K-12 education segment.The company provides integrated non-academic services to educational institutions, including student housing, dining, safety and campus operations.These services are designed to improve the campus experience, create better learning environments and support students’ overall development.Investor reservation detailsQualified institutional buyers have been allocated 75% of the public issue. Non-institutional investors will receive 15%, while the remaining 10% has been reserved for retail investors.A-One Steels India Sets IPO Price Band At ₹385–₹405; ₹405-Crore Issue To Open On September 24 JM Financial, IIFL Capital Services and Morgan Stanley India Company are the book-running lead managers for the Elevate Campuses IPO.KFin Technologies has been appointed registrar to the issue and will handle investor applications, allotment and refund-related processes.

The Hillhouse Capital-backed student accommodation and K-12 platform is set to hit the primary market on September 23, with shares priced in the ₹343-362 range.