The Elevate Campuses anchor lock-in ends on 28 October. Half of the shares held by its 40 anchor investors become free to trade from that day. The anchors had put in ₹944.98 crore before the issue opened.
What unlocks on 28 October?
Anchor investors are big funds that buy before the IPO opens to the public. Their shares are locked for a set period, so they cannot sell on listing day. For this issue the first lock-in is 30 days, and it covers 50% of their shares.
Free to trade does not mean the shares will be sold. Some funds hold on, and some sell. It only means they now can.
| Detail | Figure |
|---|---|
| Anchor investors | 40 (across 23 fund houses) |
| Anchor amount | ₹944.98 crore |
| Issue price | ₹362 |
| Shares free on 28 October | 50% of anchor shares |
| Rest of anchor shares | Locked for 90 days |
| Issue size | ₹2,100 crore, entirely fresh |
At ₹362 a share, the anchor money buys about 2.6 crore shares. Half of that is roughly 1.3 crore shares, about 8% of the company after the issue. This is our own arithmetic from the anchor amount and the issue price.
Where does the stock stand?
The shares listed on 30 September at ₹355.10 on the NSE, which was 1.91% below the issue price. Our records show a price of ₹284.10 now. You can read the listing day story in our listing report.
What our data shows
Demand for this issue was modest. It was subscribed 1.79 times, against a middle value of about 22 times for mainboard IPOs this year. The anchors took 45% of the issue before the public could bid.
About the company
Elevate Campuses owns and runs student accommodation on the campuses of colleges and universities. It also owns K-12 school assets. Its brands are Good Host Spaces and ScholarZ.
Of the ₹2,100 crore raised, ₹1,100 crore goes to buy K-12 schools and campuses. Another ₹750 crore repays loans. Total borrowing stood at ₹4,120.53 crore on 31 March 2026, against a net worth of ₹956.29 crore.
What happens next
The first lock-in ends on 28 October. The remaining anchor shares stay locked for 90 days from allotment, which takes it to late December. You can see the full IPO details, dates and figures on the Elevate Campuses IPO page, and the performance of other issues on our IPO performance page.
