Elevate Campuses IPO: ₹2,100 Cr Issue, Business Model, Valuation & Growth Plans

Elevate Campuses has launched its ₹2,100 crore IPO, with the issue open from September 23 to September 25. The company has priced its shares in the ₹343–₹362 range, with a market capitalisation of around ₹6,100 crore at the upper end. Elevate Campuses operates as an education infrastructure provider, owning and managing student accommodation and K-12 school infrastructure. Around ₹1,000 crore of the IPO proceeds will go towards acquiring 16 K-12 entities and campuses, while ₹750 crore will be used to repay or pre-pay borrowings. In FY26, revenue rose 32.2% to ₹806.9 crore, while profit more than tripled to ₹207 crore. We speak to Narasimha Jayakumar, CEO, Elevate Campuses, and Vinod Rao, CFO, Elevate Campuses, on the IPO, business model, financial performance, expansion plans and key risks.