Construction - Real Estate - Listed on 30 September 2026
Elevate Campuses (Construction - Real Estate) closed its IPO window in 2026 and listed on NSE and BSE on 30 September 2026 at an upper band issue price of Rs 362, opening at Rs 355.1 for a listing gain of -1.9%. The IPO was subscribed 1.79x overall - QIB 2.52x, HNI/NII 0.84x, Retail 1.01x. The total issue size was Rs 2,100 Cr (Fresh Issue Rs 2100 Cr, OFS Rs 0 Cr). IPO GMP data, subscription trends across Day 1 - Day 3 and Nifty performance around the listing window are detailed below.
Construction - Real Estate
Elevate Campuses owns, operates and manages student accommodation across higher education institutions in India and also has K-12 school assets in India and the UAE. Its platform combines owned and managed student housing capacity with associated dining, laundry, recreation and support services.
Issue structure, listing outcome and context
The ₹2,100 crore IPO was entirely a fresh issue with no offer for sale, priced at ₹362 per share at the upper end. The shares listed on NSE at ₹355.10 on 30 September 2026, a 1.91% discount to the issue price.
Number of times each investor category subscribed by close of Day 3.
How overall subscription built up across the three-day issue window.
Grey market premium (GMP) tracked day-by-day across the IPO window. Absolute GMP is the premium in rupees over the upper issue price; GMP % is that premium as a percent of the issue price.
| Day | GMP (Rs) | GMP % |
|---|---|---|
| Day 1 | Rs 10 | +2.80% |
| Day 2 | Rs 2 | +0.60% |
| Day 3 | Rs 1 | +0.30% |
| Day 4 | Rs 3 | +0.80% |
| Day 5 | Rs 9 | +2.50% |
Comparison between market-based GMP prediction and IPOGyani's AI-powered listing gain prediction.
Prediction Accuracy: 1.9 pp (Highly accurate)
How the broader market moved around the Elevate Campuses IPO window. Helpful for isolating how much of the listing gain came from company fundamentals vs. market tailwind.
Elevate Campuses IPO listed at -1.9% versus the upper issue price of Rs 362 on 30 September 2026.
Elevate Campuses IPO was subscribed 1.79x overall. QIB portion was subscribed 2.52x, HNI / NII 0.84x and Retail 1.01x.
IPO GMP started at Rs 10 on Day 1 and moved to Rs 9 by the close of the issue window. See the day-by-day GMP table above for the full trajectory.