Elevate Campuses Ltd IPO
Status: Closed
Overview
IPO date
23 Sept 2026 to 25 Sept 2026
Face value
₹ 0 per share
Price
₹ 343 to ₹362 per share
Issue Size
58,011,049 shares
(aggregating up to ₹ 2100 Cr)
(aggregating up to ₹ 2100 Cr)
Allotment Date
28 Sept 2026
Listing at
NSE
Issue type
Book Building
Sector
Miscellaneous
Unlock Stock of the Month
T&C*
Strengths vs Risks of Elevate Campuses Ltd
Know the pros & cons
Strengths
- We are an institutionalized and independent platform engaged in owning, operating, and managing on-campus student accommodation across HEIs in India and owning K-12 assets in India and Dubai trusted by leading education groups
- Strong operational capabilities and superior asset management expertise.
- Commitment to superior student experience and well being.
- Strategically located, quality modern portfolio.
- Derisked business model with clear cash flow visibility and consistent growth and profitability.
- Highly experienced senior management team.
Risks
- The Pre-Acquisition Group derived 65.74%, 99.24% and 99.72% of its revenue from operations in the Financial Years 2026, 2025 and 2024, respectively, from the student accommodation business in the company's Owned Portfolio. Any inability to maintain occupancy rates may adversely affect its business, results of operations, financial condition, and cash flows.
- The Pre-Acquisition Group derived 61.46%, 89.00% and 88.60% of its revenue from operations for the Financial Years 2026, 2025 and 2024, respectively, from three of its largest HEIs. Any adverse developments affecting such HEIs may adversely affect the company's business, results of operations, financial condition, and cash flows.
- The Company proposes to utilize approximately 52.38% of the Gross Proceeds of the Issue towards acquisition of the K-12 Entities and Campuses from the fellow subsidiaries of its Promoters. The company may not be able to achieve anticipated benefits following the acquisition of K-12 Assets, which may adversely affect its business, results of operations, financial condition, and cash flows.
- The Pre-Acquisition Group derived 70.13%, 100.00% and 100.00% of its revenue from operations in the Financial Years 2026, 2025 and 2024, respectively, from HEIs and other student accommodation assets (Woodstock and County) located in the northern and southern regions of India. Any adverse developments affecting such regions may adversely affect the company's business, results of operations, financial condition and cash flows.
- Delays in payment of lease rentals by the operators of K-12 Assets or monthly management fees by HEIs in the company's Managed Portfolio for student accommodation may adversely affect its business, results of operations, and cash flows.
- The company agreements with HEIs and K-12 Operators are subject to risks of early termination, non-renewal, and renegotiation, which could adversely affect its business, results of operations, financial condition and cash flows.
- The sale of the company's student accommodation business at T.A. Pai Management Institute may affect its business, results of operations, financial condition and cash flows.
- The Post-Acquisition Group will relies on HEIs and K-12 Operators they engages with for the quality of education provided to students. Any adverse effect on the reputation of the HEIs and K-12 Assets operated by K-12 Operators, or the brands under which they operates, may adversely affect the business, results of operations, financial condition, and cash flows of the Post-Acquisition Group.
- The company expansion into greenfield development projects exposes it to regulatory, execution, financing and reputational risks, which may adversely affect the company's business, results of operations, financial condition and cash flows.
- The Post-Acquisition Group will have a limited operating history in relation to the K-12 Assets business, which may make it difficult to evaluate its future prospects and could adversely affect the company's business, results of operations, financial condition and cash flows.
- As there is no central title registry for land parcels in India and property records are generally updated manually through physical records, the company is subject to the risk of inaccuracies, errors, or contradictions in such property records. Accordingly, its may not be able to identify or correct defects or irregularities in title to the land which the company own, lease, or intends to acquire.
- If the company is unable to successfully integrate and realize the anticipated benefits from the businesses that its acquired or intends to acquire, the company's business, results of operations, financial condition, and cash flows could be adversely affected.
- Growth of online and education technology alternatives businesses may adversely affect the demand for the traditional in-person education delivery, and in turn affect the company's business, results of operations, financial condition, and cash flows.
- The Equity Shares held by one of the company's Promoters, Genius Bidco Holdings Pte. Ltd., may be encumbered in favour of external lenders, post-listing, which may adversely affect its business, results of operations, financial condition and cash flows.
- Certain of its Group Companies and Subsidiaries have incurred losses in the past and may continue to incur losses in the future, which may adversely affect the company's consolidated financial performance, results of operations, financial condition and cash flows.
- The Company has experienced a period of non-compliance with the minimum shareholder requirement under the Companies Act, 2013. While the Company has filed an adjudication application for such violation, consequently, the Company may be subject to regulatory actions and penalties, which could adversely affect the Company's business, results of operations, financial condition and cash flows.
- The valuation report obtained for the Proposed Acquisitions is based on various assumptions and may not be indicative of the true value of the K-12 Entities and Campuses.
- The Unaudited Pro Forma Financial Information included in this Red Herring Prospectus is presented for illustrative purposes only and may not accurately reflect the company's future financial condition and results of operations.
- The company is dependent on the growth and stability of the education sector and any adverse developments in this sector may adversely affect its business, results of operations, financial condition, and cash flows.
- The education infrastructure industry is competitive and the company's inability to compete effectively may adversely affect its business, results of operations, financial condition, and cash flows.
- Any delay in payment of statutory dues by the Company and Subsidiaries in future, may result in the imposition of penalties and in turn may adversely affect its business, results of operations, financial condition, and cash flows.
- The company has in the past entered into related party transactions and may continue to do so in the future. The terms of these related party transactions, while at arm's length, may be unfavorable to the company which may adversely affect its business, results of operations, financial condition, and cash flows.
- The Post-Acquisition Group may not be able to maintain or increase the fees per student for student accommodation in the company's Owned Portfolio, management fees charged to HEIs for student accommodation business in its Managed Portfolio and lease rentals charged to K-12 Operators, which may adversely affect the business, results of operations, financial condition and cash flows of the Post-Acquisition Group.
- The company relies on a large workforce, including contract labor, and faces risks of service disruptions, compliance failures, and related liabilities that may adversely affect its business, results of operations, financial condition and cash flows.
- The company may be unable to protect its intellectual property rights and may be exposed to misappropriation and infringement claims by third parties, which may adversely affect the company's reputation, business, results of operations, financial condition, and cash flows.
- The occupancy level at the company recently refurbished Woodstock asset remains below its originally projected levels, and any failures to achieve or sustain projected occupancy levels at the company's Woodstock asset could adversely affect its business, results of operations, financial condition, and cash flows.
- The company relies on third-party vendors for delivering value-added services in its student accommodations and K-12 Assets. Any deficiencies, disruptions, or failures by such parties may adversely affect the company's business, results of operations, financial condition, and cash flows.
- Cash flows from student accommodation in the company's Owned Portfolio is linked to the academic cycle, and is therefore subject to seasonality, which may contribute to fluctuations in its results of operations and financial condition.
- The company is exposed to risks associated with the development and renovation of student accommodation and K-12 Assets. Delays or cost overruns in the construction of new buildings or in the renovation of its existing infrastructure may adversely affect the company's business, results of operations, financial condition, and cash flows.
- The company's ability to realize benefits from its pipeline projects is subject to uncertainties, and any delay, modification or cancellation of such projects could adversely affect the company's business, results of operations, financial condition and cash flows.
- The company's inability to effectively manage its expansion and execute the company's growth strategy may adversely affect its business, results of operations, financial condition, and cash flows.
- The company's employee attrition rate was 56.43%, 21.43% and 18.35% for the Financial Years 2026, 2025, and 2024, respectively. The company's business depends substantially on the efforts of its employees, particularly, the company's Key Managerial Personnel, Senior Management, and failures to attract or retain such persons may adversely affect its business, results of operations, financial condition, and cash flows.
- The company is unable to trace some of its historical records including forms filed with the RoC, and certain of the company's forms are undated and / or unstamped and / or have factual discrepancy. Further, the company has delayed in making certain regulatory filings to be made with RBI under applicable law. There is no assurance that regulatory proceedings or actions will not be initiated against the company in the future and that its will not be subject to any penalty imposed by the competent regulatory authority in this regard.
- The company does not have any listed peer in India whose business portfolio is comparable with its and, accordingly, industry comparisons may not be relevant.
- The company may be required to sell, surrender, or transfer ownership or leasehold rights in hostel buildings back to HEIs pursuant to contractual provisions, including underperformance, which may adversely affect the company's business, results of operations, financial condition and cash flows.
- The Company, K-12 Entities and Campuses, Directors, Promoters, Key Managerial Personnel, Senior Management, Subsidiaries and Group Companies are involved in certain legal proceedings. An adverse outcome in any of these proceedings may adversely affect the company's reputation, business, results of operations, financial condition, and cash flows.
- Any imposition or increase in goods and services tax or a change in the tax treatment of the company's services may adversely affect the cost and affordability of student accommodation, thereby affecting occupancy and the company's business, results of operations, financial condition, and cash flows.
- The company has incurred significant one-time incentive payments to certain employees during the Financial Year 2025, and its may be required to incur similar or additional payments in the future, which may adversely affect the company's results of operations, financial condition and cash flows and may create expectations among other employees.
- The company's inability to meet its obligations, including financial and restrictive covenants, under the company's financing arrangements may adversely affect its business, results of operations, financial condition, and cash flows.
- Audit reports issued by statutory auditors for the Company and its Subsidiaries for the past three Financial Years included certain observations specified under the "Report on Other Legal and Regulatory Requirements" and other modifications which did not requires corrective adjustment in the Restated Consolidated Summary Statement included in the annexure to the reports issued under Companies (Auditor's Report) Order, 2020 .
- A majority of the company's borrowings are subject to floating interest rates, and any increase in interest rates may adversely affect its results of operations and cash flows.
- The company limited operating history makes it difficult to evaluate the company's business, results of operations, financial condition and cash flows.
- The company basic and diluted earnings per share, return on net worth, return on adjusted capital employed, and net debt to EBITDA have fluctuated in recent Financial Years and may continue to fluctuate in the future, which may adversely affect investor confidence in the company's financial performance and the valuation of its Equity Shares.
- Incidents of accidents, injuries, health hazards or criminal activities, particularly affecting the students using the company student accommodations or K-12 Assets, may adversely affect its business, results of operations, financial condition, and cash flows.
- The company is subject to several risks relating to owning real estate assets, such as the Government of India's right to uses or acquire properties and real estate market conditions.
- Failures to obtain, maintain or renew the statutory and regulatory licenses, permits, and approvals required for the company's business and operations may adversely affect its business, results of operations, financial condition and cash flows.
- Any adverse effect on the company's brand and reputation may adversely affect its business, results of operations, financial condition, and cash flows.
- Increasing focus on sustainability requirements, such as green buildings, may increase costs or requires redesigns, affecting the company's business, results of operations, financial condition, and cash flows.
- The company's technology infrastructure is susceptible to disruptions, failures, security breaches and cyberattacks. Any such events could potentially result in damage to its business and reputation adversely affecting the company's business, results of operations, financial condition, and cash flows.
- The company's international operations are subject to a number of risks that could affect its business, results of operations, financial condition, and cash flows.
- The company's Promoters, certain of its Directors, Key Managerial Personnel and Senior Management have interests in the company other than reimbursement of expenses incurred and normal remuneration or benefits.
- The Company does not own the premises on which its Registered and Corporate office is situated. If the company is unable to renew its current leases or if the company renew them on terms which are detrimental to it, the company may suffer a disruption in its operations or increased relocating costs, or both, which could adversely affect the company's business, results of operations, financial condition cash flows.
- The Pre-Acquisition Group has recorded exceptional items in its Restated Consolidated Summary Statement which may not be recurring and may affect the comparability of the company's results of operations, and any similar items in the future may have an adverse effect on its business, results of operations, financial condition and cash flows.
- The company's insurance coverage may not be adequate to protect it against all potential losses, which adversely affect the company's business, results of operations, and cash flows.
- This Red Herring Prospectus contains information from third parties including an industry report prepared by an independent third-party research agency, CBRE, which we have exclusively commissioned and paid for to confirm our understanding of our industry exclusively in connection with the Issue and reliance on such information for making an investment decision in the Issue is subject to inherent risks.
- Certain non-generally accepted accounting principle financial measures and other statistical information relating to the company operations and financial performance have been included in this Red Herring Prospectus. These non-GAAP financial measures are not measures of operating performance or liquidity defined by Ind AS and may not be comparable with those presented by other companies.
- The company's ability to pay dividends in the future will depends on its earnings, financial condition, working capital requirements, capital expenditures, and restrictive covenants of the company's financing arrangements.
- Disruptions or lack of basic infrastructure such as water supply may adversely affect the company operations.
- A downgrade in the company's credit rating may adversely affect its ability to raise capital in the future.
- Any variation or delay in the proposed utilization of Net Proceeds may be subject to additional regulatory and shareholder approvals and could adversely affect the company's business plans and results of operations.
- The company's Promoters and members of the Promoter Group will continue to retain significant shareholding in the Company after the Issue, which will allow them to exercise significant influence over the company.
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The IPO opens on 23 Sept 2026 & closes on 25 Sept 2026.
Elevate Campuses Limited was originally incorporated as 'Woodstock Ambience Private Limited' on April 8, 2005, as a private limited company at Bengaluru, Karnataka, India. The name of the Company was changed to 'Good Host Spaces Private Limited', dated January 9, 2018. Upon conversion of Company into a public limited company, the name of Company was changed to 'Good Host Spaces Limited', and a fresh certificate of incorporation dated August 20, 2025, was issued by the RoC. Thereafter, the name was subsequently changed to 'Elevate Campuses Limited', and a fresh certificate of incorporation was issued by the Central Processing Centre on September 8, 2025.
The Company own, operate and manage on-campus student accommodation across higher education institutions (HEIs) and owning K-12 Assets in India. Their mission is to build inclusive educational communities by delivering modern student accommodation and K-12 Assets that nurture student wellbeing and development.
The portfolio comprises both owned and managed assets, comprising 66,272 beds as of August 31, 2025. Owned Portfolio' comprises five student accommodation campuses totaling 16,934 beds, 16 K-12 Assets in eight Indian cities, and two K-12 Assets in Dubai (UAE). Managed Portfolio' comprises 14 student accommodation campuses, totaling 49,338 beds under management, as on August 31, 2025. It also deliver community and campus technology services for the Managed Portfolio such as media coverage of HEIs and organizing community events at the HEIs.
The Company commenced business in 2005. Since commencing the Company's operations in FY2018 as an independent owner and operator of student accommodation, Company has expanded the portfolio to 16,934 Owned Beds as of August 31, 2025 from 9,153 Owned Beds in the Financial Year 2018. It has developed an asset-light business model starting from 2024, by entering into management contracts with HEIs, with the Managed Portfolio comprising 49,338 Managed Beds as of August 31, 2025. Further, K-12 HoldCos acquired the K-12 Assets business in 2024, which increased from 12 K-12 Assets in the Financial Year 2023 to 18 K-12 Assets as of August 31, 2025.
On April 11, 2025, Company has acquired ScholarZ, a hostel management business, through its subsidiary, Elevate Hostel Management Services Private Limited, pursuant to business transfer agreement dated February 28, 2025 and amendment agreement dated April 10, 2025.
Company is planning the IPO by raising funds of Rs 2550 crores of face value of Re 1/- each through fresh issue.
Elevate Campuses Ltd IPO will close on 25 Sept 2026.
- We are an institutionalized and independent platform engaged in owning, operating, and managing on-campus student accommodation across HEIs in India and owning K-12 assets in India and Dubai trusted by leading education groups
- Strong operational capabilities and superior asset management expertise.
- Commitment to superior student experience and well being.
- Strategically located, quality modern portfolio.
- Derisked business model with clear cash flow visibility and consistent growth and profitability.
- Highly experienced senior management team.
| S.No | Promoters Name | Pre Issue Shares | Pre Issue Percentage | Post Issue Shares | Post Issue Percentage |
|---|---|---|---|---|---|
| 1 | Genius Bidco | 88417488 | 80 | 88417488 | 52.46 |
| 2 | Genius Rajkot | 22102500 | 20 | 22102500 | 13.11 |
- The Pre-Acquisition Group derived 65.74%, 99.24% and 99.72% of its revenue from operations in the Financial Years 2026, 2025 and 2024, respectively, from the student accommodation business in the company's Owned Portfolio. Any inability to maintain occupancy rates may adversely affect its business, results of operations, financial condition, and cash flows.
- The Pre-Acquisition Group derived 61.46%, 89.00% and 88.60% of its revenue from operations for the Financial Years 2026, 2025 and 2024, respectively, from three of its largest HEIs. Any adverse developments affecting such HEIs may adversely affect the company's business, results of operations, financial condition, and cash flows.
- The Company proposes to utilize approximately 52.38% of the Gross Proceeds of the Issue towards acquisition of the K-12 Entities and Campuses from the fellow subsidiaries of its Promoters. The company may not be able to achieve anticipated benefits following the acquisition of K-12 Assets, which may adversely affect its business, results of operations, financial condition, and cash flows.
- The Pre-Acquisition Group derived 70.13%, 100.00% and 100.00% of its revenue from operations in the Financial Years 2026, 2025 and 2024, respectively, from HEIs and other student accommodation assets (Woodstock and County) located in the northern and southern regions of India. Any adverse developments affecting such regions may adversely affect the company's business, results of operations, financial condition and cash flows.
- Delays in payment of lease rentals by the operators of K-12 Assets or monthly management fees by HEIs in the company's Managed Portfolio for student accommodation may adversely affect its business, results of operations, and cash flows.
- The company agreements with HEIs and K-12 Operators are subject to risks of early termination, non-renewal, and renegotiation, which could adversely affect its business, results of operations, financial condition and cash flows.
- The sale of the company's student accommodation business at T.A. Pai Management Institute may affect its business, results of operations, financial condition and cash flows.
- The Post-Acquisition Group will relies on HEIs and K-12 Operators they engages with for the quality of education provided to students. Any adverse effect on the reputation of the HEIs and K-12 Assets operated by K-12 Operators, or the brands under which they operates, may adversely affect the business, results of operations, financial condition, and cash flows of the Post-Acquisition Group.
- The company expansion into greenfield development projects exposes it to regulatory, execution, financing and reputational risks, which may adversely affect the company's business, results of operations, financial condition and cash flows.
- The Post-Acquisition Group will have a limited operating history in relation to the K-12 Assets business, which may make it difficult to evaluate its future prospects and could adversely affect the company's business, results of operations, financial condition and cash flows.
- As there is no central title registry for land parcels in India and property records are generally updated manually through physical records, the company is subject to the risk of inaccuracies, errors, or contradictions in such property records. Accordingly, its may not be able to identify or correct defects or irregularities in title to the land which the company own, lease, or intends to acquire.
- If the company is unable to successfully integrate and realize the anticipated benefits from the businesses that its acquired or intends to acquire, the company's business, results of operations, financial condition, and cash flows could be adversely affected.
- Growth of online and education technology alternatives businesses may adversely affect the demand for the traditional in-person education delivery, and in turn affect the company's business, results of operations, financial condition, and cash flows.
- The Equity Shares held by one of the company's Promoters, Genius Bidco Holdings Pte. Ltd., may be encumbered in favour of external lenders, post-listing, which may adversely affect its business, results of operations, financial condition and cash flows.
- Certain of its Group Companies and Subsidiaries have incurred losses in the past and may continue to incur losses in the future, which may adversely affect the company's consolidated financial performance, results of operations, financial condition and cash flows.
- The Company has experienced a period of non-compliance with the minimum shareholder requirement under the Companies Act, 2013. While the Company has filed an adjudication application for such violation, consequently, the Company may be subject to regulatory actions and penalties, which could adversely affect the Company's business, results of operations, financial condition and cash flows.
- The valuation report obtained for the Proposed Acquisitions is based on various assumptions and may not be indicative of the true value of the K-12 Entities and Campuses.
- The Unaudited Pro Forma Financial Information included in this Red Herring Prospectus is presented for illustrative purposes only and may not accurately reflect the company's future financial condition and results of operations.
- The company is dependent on the growth and stability of the education sector and any adverse developments in this sector may adversely affect its business, results of operations, financial condition, and cash flows.
- The education infrastructure industry is competitive and the company's inability to compete effectively may adversely affect its business, results of operations, financial condition, and cash flows.
- Any delay in payment of statutory dues by the Company and Subsidiaries in future, may result in the imposition of penalties and in turn may adversely affect its business, results of operations, financial condition, and cash flows.
- The company has in the past entered into related party transactions and may continue to do so in the future. The terms of these related party transactions, while at arm's length, may be unfavorable to the company which may adversely affect its business, results of operations, financial condition, and cash flows.
- The Post-Acquisition Group may not be able to maintain or increase the fees per student for student accommodation in the company's Owned Portfolio, management fees charged to HEIs for student accommodation business in its Managed Portfolio and lease rentals charged to K-12 Operators, which may adversely affect the business, results of operations, financial condition and cash flows of the Post-Acquisition Group.
- The company relies on a large workforce, including contract labor, and faces risks of service disruptions, compliance failures, and related liabilities that may adversely affect its business, results of operations, financial condition and cash flows.
- The company may be unable to protect its intellectual property rights and may be exposed to misappropriation and infringement claims by third parties, which may adversely affect the company's reputation, business, results of operations, financial condition, and cash flows.
- The occupancy level at the company recently refurbished Woodstock asset remains below its originally projected levels, and any failures to achieve or sustain projected occupancy levels at the company's Woodstock asset could adversely affect its business, results of operations, financial condition, and cash flows.
- The company relies on third-party vendors for delivering value-added services in its student accommodations and K-12 Assets. Any deficiencies, disruptions, or failures by such parties may adversely affect the company's business, results of operations, financial condition, and cash flows.
- Cash flows from student accommodation in the company's Owned Portfolio is linked to the academic cycle, and is therefore subject to seasonality, which may contribute to fluctuations in its results of operations and financial condition.
- The company is exposed to risks associated with the development and renovation of student accommodation and K-12 Assets. Delays or cost overruns in the construction of new buildings or in the renovation of its existing infrastructure may adversely affect the company's business, results of operations, financial condition, and cash flows.
- The company's ability to realize benefits from its pipeline projects is subject to uncertainties, and any delay, modification or cancellation of such projects could adversely affect the company's business, results of operations, financial condition and cash flows.
- The company's inability to effectively manage its expansion and execute the company's growth strategy may adversely affect its business, results of operations, financial condition, and cash flows.
- The company's employee attrition rate was 56.43%, 21.43% and 18.35% for the Financial Years 2026, 2025, and 2024, respectively. The company's business depends substantially on the efforts of its employees, particularly, the company's Key Managerial Personnel, Senior Management, and failures to attract or retain such persons may adversely affect its business, results of operations, financial condition, and cash flows.
- The company is unable to trace some of its historical records including forms filed with the RoC, and certain of the company's forms are undated and / or unstamped and / or have factual discrepancy. Further, the company has delayed in making certain regulatory filings to be made with RBI under applicable law. There is no assurance that regulatory proceedings or actions will not be initiated against the company in the future and that its will not be subject to any penalty imposed by the competent regulatory authority in this regard.
- The company does not have any listed peer in India whose business portfolio is comparable with its and, accordingly, industry comparisons may not be relevant.
- The company may be required to sell, surrender, or transfer ownership or leasehold rights in hostel buildings back to HEIs pursuant to contractual provisions, including underperformance, which may adversely affect the company's business, results of operations, financial condition and cash flows.
- The Company, K-12 Entities and Campuses, Directors, Promoters, Key Managerial Personnel, Senior Management, Subsidiaries and Group Companies are involved in certain legal proceedings. An adverse outcome in any of these proceedings may adversely affect the company's reputation, business, results of operations, financial condition, and cash flows.
- Any imposition or increase in goods and services tax or a change in the tax treatment of the company's services may adversely affect the cost and affordability of student accommodation, thereby affecting occupancy and the company's business, results of operations, financial condition, and cash flows.
- The company has incurred significant one-time incentive payments to certain employees during the Financial Year 2025, and its may be required to incur similar or additional payments in the future, which may adversely affect the company's results of operations, financial condition and cash flows and may create expectations among other employees.
- The company's inability to meet its obligations, including financial and restrictive covenants, under the company's financing arrangements may adversely affect its business, results of operations, financial condition, and cash flows.
- Audit reports issued by statutory auditors for the Company and its Subsidiaries for the past three Financial Years included certain observations specified under the "Report on Other Legal and Regulatory Requirements" and other modifications which did not requires corrective adjustment in the Restated Consolidated Summary Statement included in the annexure to the reports issued under Companies (Auditor's Report) Order, 2020 .
- A majority of the company's borrowings are subject to floating interest rates, and any increase in interest rates may adversely affect its results of operations and cash flows.
- The company limited operating history makes it difficult to evaluate the company's business, results of operations, financial condition and cash flows.
- The company basic and diluted earnings per share, return on net worth, return on adjusted capital employed, and net debt to EBITDA have fluctuated in recent Financial Years and may continue to fluctuate in the future, which may adversely affect investor confidence in the company's financial performance and the valuation of its Equity Shares.
- Incidents of accidents, injuries, health hazards or criminal activities, particularly affecting the students using the company student accommodations or K-12 Assets, may adversely affect its business, results of operations, financial condition, and cash flows.
- The company is subject to several risks relating to owning real estate assets, such as the Government of India's right to uses or acquire properties and real estate market conditions.
- Failures to obtain, maintain or renew the statutory and regulatory licenses, permits, and approvals required for the company's business and operations may adversely affect its business, results of operations, financial condition and cash flows.
- Any adverse effect on the company's brand and reputation may adversely affect its business, results of operations, financial condition, and cash flows.
- Increasing focus on sustainability requirements, such as green buildings, may increase costs or requires redesigns, affecting the company's business, results of operations, financial condition, and cash flows.
- The company's technology infrastructure is susceptible to disruptions, failures, security breaches and cyberattacks. Any such events could potentially result in damage to its business and reputation adversely affecting the company's business, results of operations, financial condition, and cash flows.
- The company's international operations are subject to a number of risks that could affect its business, results of operations, financial condition, and cash flows.
- The company's Promoters, certain of its Directors, Key Managerial Personnel and Senior Management have interests in the company other than reimbursement of expenses incurred and normal remuneration or benefits.
- The Company does not own the premises on which its Registered and Corporate office is situated. If the company is unable to renew its current leases or if the company renew them on terms which are detrimental to it, the company may suffer a disruption in its operations or increased relocating costs, or both, which could adversely affect the company's business, results of operations, financial condition cash flows.
- The Pre-Acquisition Group has recorded exceptional items in its Restated Consolidated Summary Statement which may not be recurring and may affect the comparability of the company's results of operations, and any similar items in the future may have an adverse effect on its business, results of operations, financial condition and cash flows.
- The company's insurance coverage may not be adequate to protect it against all potential losses, which adversely affect the company's business, results of operations, and cash flows.
- This Red Herring Prospectus contains information from third parties including an industry report prepared by an independent third-party research agency, CBRE, which we have exclusively commissioned and paid for to confirm our understanding of our industry exclusively in connection with the Issue and reliance on such information for making an investment decision in the Issue is subject to inherent risks.
- Certain non-generally accepted accounting principle financial measures and other statistical information relating to the company operations and financial performance have been included in this Red Herring Prospectus. These non-GAAP financial measures are not measures of operating performance or liquidity defined by Ind AS and may not be comparable with those presented by other companies.
- The company's ability to pay dividends in the future will depends on its earnings, financial condition, working capital requirements, capital expenditures, and restrictive covenants of the company's financing arrangements.
- Disruptions or lack of basic infrastructure such as water supply may adversely affect the company operations.
- A downgrade in the company's credit rating may adversely affect its ability to raise capital in the future.
- Any variation or delay in the proposed utilization of Net Proceeds may be subject to additional regulatory and shareholder approvals and could adversely affect the company's business plans and results of operations.
- The company's Promoters and members of the Promoter Group will continue to retain significant shareholding in the Company after the Issue, which will allow them to exercise significant influence over the company.
The Issue type of Elevate Campuses Ltd is Book Building.
The minimum application for shares of Elevate Campuses Ltd is 41.
The total shares issue of Elevate Campuses Ltd is 58011049.
Initial public offering of 58,011,049 equity shares bearing face value of Re. 1 each ("Equity Shares") of Elevate Campuses Limited (formerly known as Good Host Spaces Limited) ("Company" or "Issuer") for cash at a price of Rs. 362 per equity share including a share premium of Rs. 361 per equity share ("Issue Price") aggregating up to Rs. 2100.00 Crores ("Issue").
The company, in consultation with the brlms, may consider a pre-ipo placement of specified securities aggregating up to Rs.510.00 crores, as may be permitted under applicable law, at its discretion, prior to filing of the pre-ipo placement, if undertaken, will be at a price to be decided by the company in
consultation with the brlms. If the pre-ipo placement is completed, the amount raised pursuant to the pre-ipo placement will be reduced from the issue, subject to compliance with Rule 19(2)(b) of the securities contracts (Regulation) Rules, 1957 ("scrr"). The pre-ipo placement, if undertaken, shall not exceed 20% of the size of the issue. Prior to the completion of the issue, the company shall appropriately intimate the subscribers to the pre-ipo placement, prior to allotment pursuant to the pre-ipo placement, that there is no guarantee that the company may proceed with the issue or the issue may be successful and will result into listing of the equity shares on the stock exchanges. further, relevant disclosures in relation to such intimation to the subscribers to the pre-ipo placement (if undertaken).
Price Band: Rs. 362 per equity share of face value of Rs. 1 each.
The floor price is 362 times the face value of the equity shares.
Bids can be made for a minimum of 41 equity shares of face value of Rs. 1 each and in multiples of 41 equity shares face value of Rs. 1 each thereafter.