Elevate Campuses plans ₹750 crore IPO debt reduction
Elevate Campuses said it will use ₹750 crore from its upcoming IPO proceeds to reduce debt. Total debt is about ₹3,400 crore and is expected to fall to roughly ₹2,600-2,700 crore after the reduction.
Elevate Campuses will use ₹750 crore from its initial public offering (IPO) proceeds to reduce debt, board director Mukesh Tiwari said. The company said total debt currently stands at about ₹3,400 crore. After the ₹750 crore reduction, it would come down to roughly ₹2,600-2,700 crore.