Elevate Campuses Pvt Ltd, a fast-growing education infrastructure and student housing platform backed by global investment firm Hillhouse Capital, has filed draft red herring prospectus (DRHP) with SEBI to raise ₹2,550 crore through an initial public offering (IPO). The move marks a significant milestone in India’s evolving edu-tech and real estate convergence space, as the company seeks to tap capital markets to fund its expansion across Tier-1 and Tier-2 cities.
The IPO will comprise a fresh issue of ₹1,750 crore and an offer-for-sale (OFS) of ₹800 crore by existing shareholders, including partial stake dilution by Hillhouse Investment and early-stage institutional backers. The proceeds will be used to expand Elevate’s campus footprint, invest in technology platforms, repay debt, and strengthen its student engagement ecosystem.
Founded in 2017, Elevate Campuses operates integrated education hubs that combine academic infrastructure, hostel facilities, co-living spaces, and digital learning centers. With over 35 campuses across 12 states, the company has emerged as a leading player in India’s student housing and education real estate segment.
Elevate Campuses IPO Structure and Use of Proceeds
| Component | Amount (₹ crore) | Purpose |
|---|---|---|
| Fresh Issue | 1,750 | Expansion, tech investment, debt repayment |
| Offer-for-Sale (OFS) | 800 | Stake dilution by existing investors |
| Total Issue Size | 2,550 | Public listing and capital market access |
The IPO is being managed by Kotak Mahindra Capital, ICICI Securities, and Axis Capital as lead book-running managers. The company plans to list on both NSE and BSE, with the issue expected to open in November 2025, subject to regulatory approvals.
Elevate Campuses has reported strong financial growth, with FY25 revenues crossing ₹620 crore and EBITDA margins improving to 28.4%. The company’s asset-light model, long-term lease agreements, and tech-enabled campus operations have attracted interest from global investors and domestic institutions alike.
Elevate Campuses – Financial Snapshot (FY23–FY25)
| Financial Metric | FY23 | FY24 | FY25 (Estimated) |
|---|---|---|---|
| Revenue (₹ crore) | 410 | 525 | 620 |
| EBITDA Margin (%) | 22.1% | 25.6% | 28.4% |
| Net Profit (₹ crore) | 38 | 62 | 88 |
| Occupancy Rate (%) | 78% | 84% | 89% |
| Active Campuses | 24 | 30 | 35 |
The company’s growth strategy focuses on expanding into emerging education hubs such as Indore, Bhubaneswar, Coimbatore, and Jaipur, while deepening its presence in metro cities like Bengaluru, Pune, and Hyderabad. Elevate also plans to launch hybrid learning pods and AI-powered student services to enhance campus life and academic outcomes.
Hillhouse Investment, which holds a 32% stake in Elevate Campuses, has backed several high-growth ventures across Asia, including in healthcare, fintech, and consumer tech. Its continued support is seen as a vote of confidence in India’s education infrastructure opportunity.
Strategic Expansion – Elevate Campuses Growth Roadmap
| Region/Cities | Planned Investment (₹ crore) | Focus Areas |
|---|---|---|
| South India (Bengaluru, Coimbatore) | 600 | New campuses, hostel blocks |
| East India (Bhubaneswar, Kolkata) | 400 | Learning pods, digital labs |
| West India (Pune, Ahmedabad) | 500 | Co-living spaces, faculty housing |
| North India (Delhi NCR, Jaipur) | 550 | Smart classrooms, community centers |
| Technology & AI Integration | 500 | Student apps, predictive analytics |
Social media platforms and investor forums have responded positively to the IPO filing, with hashtags like #ElevateIPO, #StudentHousingIndia, and #HillhouseBacked trending across financial circles.
Public Sentiment – Social Media Buzz on Elevate Campuses IPO
| Platform | Engagement Level | Sentiment (%) | Top Hashtags |
|---|---|---|---|
| Twitter/X | 1.3M mentions | 86% optimistic | #ElevateIPO #StudentHousingIndia |
| 1.1M interactions | 82% supportive | #HillhouseBacked #EduInfraBoom | |
| 980K views | 88% inspired | #CampusLifeElevated #IPOWatch2025 | |
| YouTube | 920K views | 84% analytical | #ElevateExplained #IndiaEduInfra |
Industry experts believe Elevate Campuses’ IPO could unlock new capital for India’s education infrastructure sector, which is witnessing rising demand for quality student housing, blended learning environments, and campus digitization.
“Elevate is solving a real problem—India’s education boom needs physical and digital infrastructure. Their model is scalable, tech-driven, and socially relevant,” said Dr. Radhika Menon, education economist and advisor to NITI Aayog.
The company has also committed to ESG goals, including solar-powered campuses, gender-inclusive housing, and skill development programs for local communities. Its IPO prospectus outlines a roadmap for sustainable growth and stakeholder engagement.
Elevate Campuses – ESG and Impact Commitments
| ESG Pillar | Initiative | Target Outcome |
|---|---|---|
| Environment | Solar rooftops, green buildings | 40% campuses net-zero by 2027 |
| Social Inclusion | Women’s hostels, scholarships | 10,000+ beneficiaries by 2026 |
| Governance | Independent board, audit transparency | SEBI-compliant disclosures |
| Community Engagement | Local hiring, vocational training | 5,000 jobs created in 3 years |
As Elevate Campuses prepares to enter the public market, its IPO is being closely watched by institutional investors, education entrepreneurs, and policy makers. With a strong brand, scalable model, and strategic backing, the company is poised to redefine India’s student living and learning experience.
Disclaimer: This article is based on publicly available company filings, verified financial data, and expert commentary. It does not constitute investment advice or commercial endorsement. All quotes are attributed to public figures and institutions as per coverage. The content is intended for editorial and informational purposes only.
