Hillhouse-backed Elevate Campuses launches IPO to raise ₹2,100cr Sept 23-25
Business
Elevate Campuses, backed by Hillhouse Investment, is launching an IPO to raise ₹2,100 crore from September 23-25.
Shares are priced between ₹343 and ₹362 each.
This marks India's first student-housing REIT-type platform to hit the stock market, a pretty big deal for anyone interested in real estate or campus life.
Proceeds to buy 14 K-12 campuses
The funds will help Elevate buy 14 K-12 campuses in India and Dubai, repay debt, and fuel future growth.
Right now, they already have capacity to cater to 80,255 students across 15 Indian cities and Dubai under brands like Good Host Spaces and ScholarZ.
With Hillhouse Investment's backing (over $3.5 billion committed since inception), Elevate seems ready to level up its student-living game even further.