Elevate Campuses IPO Day 2 Update: GMP Insights, Subscription Status, and Key Details—Should You Invest?

The Elevate Campuses IPO has recently entered its second day of bidding, with a subscription rate of 20% for the overall issue, which comprises 5.80 crore equity shares priced between Rs 343 and Rs 362 each. With the total issue size estimated at Rs 2,100 crore, it opened for subscriptions on September 23 and will close on September 25. The retail segment has seen a lesser subscription rate of 13%, and the allotment is expected to be finalized on September 28, with shares likely to debut on the NSE and BSE on September 30, 2026.

In the grey market, Elevate Campuses shares are currently trading at a modest premium of Rs 5, or approximately 1%, suggesting limited expectations for a strong listing. This sentiment is echoed by the relatively subdued response from investors during the first day of bidding. While the grey market premium indicates that the shares may list around Rs 367, it still reflects cautious investor sentiment as the company navigates an evolving market landscape. The figures suggest that while there is interest, it may not translate into robust demand at the outset.

For Indian investors, the Elevate Campuses IPO presents a mixed outlook. While the company has recorded substantial growth in both revenue and profitability, reflecting a strong financial base, the muted grey market response raises questions regarding immediate investor confidence. Nevertheless, Sushil Finance’s “Subscribe” recommendation indicates that the company’s strategic plans for expansion and acquisition could appeal to those with a medium- to long-term investment horizon. This scenario underscores the importance of evaluating both immediate market sentiments and long-term growth potential before making investment decisions.

Source: The Economic Times

(Expert Note: This report was prepared by the Wealthova IPO team.)