Corporate Governance12 Nov 2026, 09:41 pm
Elevate Campuses: IPO Proceeds Utilisation Report for Q2 FY27
AI Summary
Elevate Campuses Ltd has submitted its Monitoring Agency Report for the quarter ended September 30, 2026, concerning the utilization of its Initial Public Offering (IPO) proceeds. The report, issued by CARE Ratings Limited, confirms that there were no deviations from the stated objects for the utilization of the ₹2,100 crore raised through the IPO. The company utilized funds for acquisition of K-12 Campuses (₹1,100 crore), repayment of borrowings (₹750 crore), unidentified acquisitions and general corporate purposes (₹129.61 crore), and IPO expenses (₹120.39 crore). The Audit Committee and Board of Directors have reviewed and taken the report on record. No funds were utilized during the quarter.
Key Highlights
- No deviation in IPO proceeds utilization for Q2 FY27.
- Total IPO proceeds amounted to ₹2,100 crore.
- Funds allocated to campus acquisition, debt repayment, and general purposes.
- Report reviewed by Audit Committee and Board of Directors.
- No utilization of funds occurred in the reported quarter.
Price Impact
More from ELEVATE