IPO · Education & Skilling

Elevate Campuses lists at slight discount on NSE

By Startup Enthusiast · 30 September 2026

What they do

Student housing firm Elevate Campuses began trading on the NSE at ₹355.10, about 1.9 percent below its ₹362 issue price

The listing values the company near ₹5,995 crore, slightly below its IPO valuation, as investors weighed debt and reliance on key institutions

The ₹2,100 crore fresh issue was subscribed 1.79 times and will fund buying 16 school properties across four cities

Elevate runs student housing on and near university campuses in India and the UAE, with food, housekeeping, laundry and security included.
Its customers are universities and school operators who hand over non-teaching campus services, plus the students who live in the beds.
It earns money in two ways: from managed beds (it runs a facility for an institution) and from owned beds (it collects rent itself).
Managed beds are about 73% of capacity, which means the business grows without buying much property (an asset-light model).
Capacity was 75,855 beds in March 2026, of which 55,487 were managed and 20,368 owned.
Revenue rose about 54% to ₹569 crore in FY26, and it describes itself as India's largest independent education platform by student capacity.

No individual founder is named in the sources; the company was set up in 2005 as Woodstock Ambience Private Limited.
Promoters are **Genius Bidco Holdings** and **Genius Rajkot Investment Holdings**, both controlled by funds of Singapore-based **Hillhouse Investment**, an early backer of Tencent and JD.com.