Institutional Alpha Dossier
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MAINBOARD
SYNCING
GMP: ₹-
Est. Listing: Calculating...
01
Bidding Opens
-
Issue Open
02
Bidding Closes
-
Closing Date
03
Basis of Allotment
-
Registrar Finalization
04
Exchange Listing
-
Secondary Debut
Issue Price Valuation
₹-
Upper Cap Price
Price Band Cap:
Book Built / Fixed
Lot Size & Retail Matrix
- Shares
Minimum Market Lot
Min Capital:
₹-
Application Size:
-
Quant Grade & Moat Score
Proprietary Multi-Factor Moat Model
Synthesizing institutional thesis...
💼 MINIMUM INVESTMENT
Capital Matrix
Retail (Min Lot)
Up to ₹2 Lakhs Category
₹14842
HNI (Min Lot)
sNII / High Net-Worth Tier
₹207788
HNI Capital Multiple:
Institutional Lot Sizing
🍩 RESERVATION QUOTA (%)
Issue Allocation
100%
Total Issue
Anchor
45%
Market Maker
0%
QIB
30%
NII / HNI
15%
Retail
10%
Institutional Corporate Dossier
Elevate
COMPANY PROFILE & DNA
Incorporation / Founded
8/4/2005
Active Vintage
Corporate Headquarters
Mumbai, Maharashtra
Registered Hub
👔 Leadership & Promoter Group
Key Management
Genius Bidco Holdings Pte. Ltd. and Genius Rajkot Investment Holdings Pte. Ltd.
⚙️ Business Overview & Portfolio
Core Offerings
Institutional platform owning and managing on-campus student accommodation and K-12 assets
🎯 Target Market & End-Use
Revenue Drivers
Student accommodation, dining, facilities management, and educational infrastructure
🛡️
★ Unique Selling Proposition (Core Economic Moat)
Largest institutional independent student accommodation platform in India with long-term revenue guaranteed contracts
Objects of the Issue (Use of Proceeds & Allocation)
🎯 Objective 01
Acquisition of K-12 Entities and Campuses
₹1100
Allocation
🎯 Objective 02
Repayment or prepayment of borrowings
₹750
Allocation
🎯 Objective 03
Funding inorganic growth and strategic initiatives
Not Mentioned
Allocation
🎯 Objective 04
General Corporate Purposes
Balance
Allocation
Financial Performance & Multi-Year Trajectory
All Figures in ₹ Crores
Latest Total Income📊
₹-
Top-Line
EBITDA Margin⚡
-%
Operating
Net Profit (PAT) Margin📈
-%
Bottom-Line
Debt / Net Worth🛡️
-x
Leverage
📊 Income, EBITDA & Profit Growth Trajectory
Income
EBITDA
PAT Trend
🏛️ Balance Sheet: Net Worth vs Debt
Net Worth
Borrowing
| Particulars | NA | FY26 | FY25 | FY24 |
|---|---|---|---|---|
| Total Income | 0 | 568.63 | 369.81 | 347 |
| EBITDA | 0 | 442.86 | 205.17 | 171.37 |
| Profit After Tax (PAT) | 0 | 173.76 | 49.74 | 39.69 |
| Net Worth | 0 | 956.29 | 699.78 | 655.77 |
| Total Borrowing | 0 | 4120.53 | 1206.6 | 984.71 |
Growth Engine & Compounding Velocity (KPIs)
Multi-Year Trajectory
568.63
₹ Cr
YoY Growth
0.5376
3-Year CAGR
0.2801
442.86
₹ Cr
YoY Growth
1.1585
3-Year CAGR
0.6075
173.76
₹ Cr
YoY Growth
2.4934
3-Year CAGR
1.0923
Capital Efficiency & Return Ratios (ROE vs ROCE)
Capital Allocation Audit
◈ ROE (Return on Equity)
Calculating...
-%
Current ROE
◈ ROCE (Capital Employed)
Calculating...
-%
Current ROCE
| MetricMetric | Current (%)Curr% | Last Year (%)Last% | 3-Yr Avg (%)3Y Avg | Trend StatusTrend |
|---|---|---|---|---|
| ROE (Return on Equity)ROE | 0.1817 | 0.0711 | 0.1044 | Improving |
| ROCE (Capital Employed)ROCE | 0.0872 | 0.1076 | 0.0998 | Stable |
Forensic Analysis & Reality Check
Earnings Quality & Dilution Audit
0.67
CFO / EBITDA
Cash Flow Conversion Efficiency
Checking...
Analyzing operating cash flow conversion...
| Parameter | Pre-IPO | Post-IPO | View |
|---|---|---|---|
| Debt / Equity | 4.31 | 1.1 | Moderate |
| EPS (₹) | 10.31 | 10.31 | Accretive |
| ROE (%) | 0.1817 | 0.0569 | Bad |
| ROCE (%) | 0.0872 | 0.0689 | Bad |
| P/E (Valuation) | 35.11 | 35.11 | Reasonable |
⏳ Debtor Days Trend (Receivables Cycle)
Analyzing...
FY24
FY25
FY26
Lower receivable days indicate faster cash collection from clients.
⚠️ Contingent Liabilities
Off-Balance Sheet
₹ 0 Cr
*Potential hidden obligations & legal/tax claims
Peer Comparison Analysis & Competitive Matrix
Industry Benchmarking
| Company NameComp | Revenue (Cr)Rev | P/E RatioP/E | ROCE (%)ROCE | ROE (%)ROE | OPM (%)OPM |
|---|---|---|---|---|---|
| Elevate Campuses Limited IPO CANDIDATE | 568.63 | 35.11 (Ask) | 0.0872 | 5.69% (Post Issue) | 0.7788 |
| 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 |
| 0 | 0 | 0 | 0 | 0 | 0 |
▲ Positive Catalysts (Strengths + Opportunities):
8 Factors
▼ Risk Vectors (Weaknesses + Threats):
8 Factors
Strengths
Internal Competitive Moat
- Largest independent institutional student accommodation platform in India with long-term revenue contracts
- High occupancy rates across premier higher education institutions and K-12 assets
- Predictable cash flows supported by triple net leases and long-term agreements
- Integrated operational capabilities spanning propco and opco management models
Weaknesses
Internal Operational Constraints
- High debt levels and interest obligations impacting profitability
- Concentration risk with top educational partners like Manipal University
- Capital-intensive model requiring continuous capital expenditure for expansion
- Past losses incurred by certain subsidiaries and group companies
Opportunities
External Growth Tailwinds
- Massive TAM in India's higher education and student housing sector
- Inorganic expansion through strategic acquisitions of K-12 and student housing assets
- Geographical expansion in emerging educational hubs in India and UAE
- De-leveraging balance sheet using IPO proceeds to lower finance costs
Threats & Risks
External Macro & Sector Headwinds
- Regulatory changes in education and real estate sectors
- Inability to maintain high occupancy rates during academic disruptions
- Rising interest rates and macroeconomic volatility
- Competition from unorganized student accommodation and regional operators
Top 10 Anchor Investors & Smart-Money Allocation
INSTITUTIONAL BOOK
Top 10 Anchor Commitment
₹- Cr
Smart-Money Quality Score
- / 5.0 ★
Marquee Conviction
SEBI Anchor Lock-In Schedule
30D (50%) • 90D (50%)
Mandatory Lock-In
Anchor Book Allocation Pending Exchange Filing
Institutional anchor investor bidding & allocation disclosures are officially filed with NSE/BSE 1 working day prior to the IPO opening date.
| Rank | Marquee Anchor Institution | Smart-Money Grade | Amount Invested | Anchor Share (%) |
|---|
355.1
Strong moat backed by market leadership in institutional student accommodation, high capex entry barriers, expanding EBITDA margins, and long-term client stickiness, offset by client concentration risk.
45
0
QIB Quota
Qualified Institutional Buyers
Smart Money
-x
Institutional Book
Inst. Conviction:
Evaluating
NII / HNI Quota
sNII (₹2L-10L) & bNII (₹10L+)
HNI Desk
-x
Non-Institutional
HNI Competition Ratio:
-
Retail (RII) Quota
Individual Investors (Up to ₹2L)
SEBI Lottery
-x
Retail Book
Retail Allotment Odds:
-