Mumbai-based professionally managed on-campus student accommodation facilities provider Elevate Campuses, which is backed by the Singapore-headquartered global alternative investment manager Hillhouse Investment, has filed draft red herring prospectus with the SEBI to raise Rs 2,550 crore funds via initial share sale.

The IPO (initial public offering) consists of entirely fresh issue by the company with no offer-for-sale component.

As a part of fresh issue, it may consider raising funds up to Rs 510 crore in pre-IPO placement before the filing of red herring prospectus with the Registrar of Companies for IPO launch.

Elevate Campuses is owned by Genius Bidco Holdings, and Genius Rajkot Investment Holdings which both are controlled by Genius Assetco Holdings. And Genius Assetco Holdings i

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