Elevate Campuses IPO Day 3: Key Details on GMP, Subscription Status, and Expert Insights—Is it Time to Subscribe?

The Elevate Campuses IPO has garnered a positive response from investors, achieving a subscription rate of 1.79 times, which indicates healthy market interest in this Rs 2,100-crore offering. With a price band set between Rs 343 to Rs 362 per share, the IPO opened for subscription on September 23 and is scheduled to close today, September 25. Notably, the issue comprises a fresh issue of 5.80 crore equity shares, with no offer-for-sale component, and the basis of allotment is expected to be finalized on September 28 ahead of its anticipated listing on the NSE and BSE on September 30, 2026.

The grey market sentiment around the Elevate Campuses IPO suggests a modest premium of about 1%, with the grey market premium (GMP) currently pegged at Rs 5 per share. This indicates that investors expect the shares to list close to the upper price band at around Rs 367. As the grey market premium is indicative of market sentiment, this slight premium can be interpreted as a cautiously optimistic outlook, with potential investors remaining moderate in their expectations given the current economic climate.

For Indian investors, the Elevate Campuses IPO presents a compelling opportunity backed by strong financial growth, with the company reporting remarkable increases in both revenue and profitability. The IPO proceeds are aimed at funding strategic acquisitions and addressing outstanding borrowings, which could bolster the company’s expansion prospects. Retail investors are encouraged to consider the long-term potential of the company, especially given its substantial growth trajectory and position in the education sector, as highlighted by research reports recommending a “Subscribe” rating for this issue.

Source: The Economic Times

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