Elevate Campuses invest Rs 601 cr in Elevate UAE

Elevate Campuses has executed a securities subscription agreement (SSA) with its material wholly owned subsidiary, Elevate UAE Assetco Holdings (Elevate UAE), for subscription of 59,061,905 Class A Optionally Convertible Redeemable Preference Shares (OCRPS) to be issued by Elevate UAE at an issue price of USD 1.05 per OCRPS aggregating to USD 6,20,15,000.25 (approx. Rs 601 crore).

The above investment is in line with the disclosures made by the Company in its initial public offering (?IPO?) documents, where it was stated that a portion of the net proceeds from the IPO would be infused by the Company in its subsidiaries which will be utilised partly/ fully towards prepayment and/ or repayment of certain outstanding borrowings availed by some of the subsidiaries. This investment has been made pursuant to an approval received from the Board of Directors of the Company at its mee ng held on 28 September 2026.