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Elevate Campuses IPO Review

Elevate Campuses IPO has been reviewed by 13 analysts, and the overall consensus is Apply — carrying a score of 78. Out of the 13 analysts who have covered this IPO, 9 recommend subscribing while 4 advise caution or avoidance — reflecting a broadly positive view from the analyst community.

The issue is priced in the band of ₹343-362 per share, with a minimum application size of 41 shares (minimum investment of approximately ₹14,842 at the upper band). Subscription ran from 23 Sep 2026 to 25 Sep 2026. The issue size is ₹2,100 crore, entirely a fresh issue. As of now, the grey market premium (GMP) for Elevate Campuses IPO is quoting at ₹6.5 (1.80%), which gives a preliminary sense of how the street is pricing the listing — though GMP is unofficial and can swing sharply before the listing date. Scroll down for the full analyst breakdown and analyst-wise verdicts.

Abhishek Vohera, Founder of IPO Guru Researched & reviewed by Abhishek Vohera, Founder, IPO Guru Last updated Figures sourced from the RHP, BSE & NSE

Analyst verdict & score

One score out of 100, aggregated from every analyst verdict tracked for this issue. How it's calculated

Sentiment score
78/ 100
Apply 9 of 13 recommend subscribing
How analysts voted
Apply 9
Neutral 3
Avoid 1
Not rated 1

Higher consensus indicates broader analyst agreement.

Detailed review

What the analyst reports say, grouped by the question you're likely asking.

General review

Elevate Campuses owns and runs student accommodation and K-12 school campuses in India and the UAE, with 78,542 beds that the notes put at about 2.1 times the next-largest organised operator. FY26 total income rose to ₹603 crore and profit after tax to ₹174 crore. Of six approved notes, five said subscribe and one stayed neutral.

Listing gains

At the upper band of ₹362 the notes value the issue between about 20 and 35 times FY26 earnings, the spread coming from pre- versus post-issue earnings, with EV/EBITDA of 13.8 times on a market cap near ₹6,101 crore. The notes find no direct listed peer. With five of six saying subscribe, the notes point to a positive listing.

Short-term strategy

The ₹2,100 crore fresh issue sends ₹1,100 crore to buying K-12 entities and campuses from promoter-linked entities and ₹750 crore to repaying debt, against borrowings of ₹4,120.53 crore. One note flags that FY26 profit includes an exceptional gain of ₹104.92 crore, and owned-bed occupancy eased to 89.37 percent from 99.47 percent. Near term the notes treat these as monitorables.

Long-term strategy

The notes credit scale and long contracts with higher education institutions, running 50 to 60 years with occupancy guarantees and fee escalations of about 5 to 6 percent. Against that they set concentration, with the three largest institutions giving 61.46 percent of FY26 revenue, high leverage and related-party acquisition risk. Most subscribe calls are framed for a medium to long-term horizon.

How this is written: an AI-assisted summary of the 14 analyst reports listed below. It reports their views; IPO Guru does not make buy or sell recommendations.

Analyst reviews

Ordered by each analyst's track record over the past year; analysts still building one are listed last.

Latest IPO reviews

How analysts rated the most recent mainboard issues — and, where they have listed, how the call played out.

Frequently asked

Should I apply for Elevate Campuses IPO?

The analyst consensus for Elevate Campuses IPO tracked on this page is Apply, with a score of 78/100. Out of 13 analysts who have reviewed this IPO, 9 recommend subscribing. IPO Guru does not make buy or sell recommendations. Read the individual analyst reports and consult a SEBI-registered advisor before investing.

What does the score of 78 mean for Elevate Campuses IPO?

The score of 78 is an aggregate of all analyst ratings tracked for Elevate Campuses IPO. A score in this range indicates strong analyst confidence — most analysts are recommending a subscribe. Read the individual analyst verdicts above for more context.

What was the actual listing price of Elevate Campuses IPO?

Elevate Campuses IPO listed on September 30, 2026 at ₹355.1, against the issue price of ₹362 — a loss of -1.91% (₹6.9 per share). View the full GMP history page for day-wise pre-listing trends.

What is the price band and lot size of Elevate Campuses IPO?

Elevate Campuses IPO was priced at ₹343-362 per share. The minimum lot size is 41 shares, making the minimum investment approximately ₹14,842 at the upper end of the price band. Subscription ran from 23 Sep 2026 to 25 Sep 2026.

Explore Elevate Campuses IPO further

Analyst views are one input. Read them alongside the demand, the grey market and the filings before you decide.

Elevate Campuses IPO review

A verdict is an opinion, not a guarantee.

IPO Guru collects analyst views, GMP, subscription and allotment for every Mainboard and SME issue. Weigh them together — and against the offer document — before you apply.

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Disclaimer: Grey Market Premium (GMP) is for information purposes and is not a guarantee of listing price. Always consult your financial advisor before investing.

Consensus
Apply
Score
78 / 100
Listed at
₹355.1
Full IPO details