Elevate Campuses to Invest Rs 601 Cr in UAE Subsidiary to Repay Debt

Elevate Campuses Limited is set to invest around Rs 601 Cr in its wholly-owned subsidiary, Elevate UAE Assetco Holdings Pte. Ltd. The investment will be made through optionally convertible redeemable preference shares (OCRPS) and will mainly be used to repay or prepay outstanding borrowings.

By Ananya P Oct 08, 2026 2 min read

Elevate Campuses Limited is set to invest around Rs 601 Cr in its wholly-owned subsidiary, Elevate UAE Assetco Holdings Pte. Ltd. The investment will be made through optionally convertible redeemable preference shares (OCRPS) and will mainly be used to repay or prepay outstanding borrowings.

The company has signed a securities subscription agreement to invest USD 620.15 million (approximately Rs 601 crore) in Elevate UAE.

Investment Through Preference Shares

As part of the transaction, Elevate Campuses will subscribe to 59,061,905 Class A Optionally Convertible Redeemable Preference Shares issued by Elevate UAE.

The issue price has been fixed at USD 1.05 per OCRPS.

The company said the investment is in line with the plans disclosed during its initial public offering (IPO). A portion of the IPO proceeds was planned to be used for funding subsidiaries and repaying or prepaying their outstanding debt.

About Elevate UAE

Elevate UAE Assetco Holdings Pte. Ltd. is a Singapore-incorporated company with registration number 202434652R.

Its registered office is located at 36 Robinson Road, #20-01, City House, Singapore 068877.

As of 31 March 2026, Elevate UAE had a net worth of around ₹1,197.8 crore. However, the company reported nil turnover in FY26, as well as in the previous three financial years.

Funds to Help Repay Borrowings

The money raised through the OCRPS issue will be used by Elevate UAE to partially or fully prepay or repay outstanding borrowings.

These borrowings were taken by Souk HIS Holdings Limited, UAE, which is a step-down wholly-owned subsidiary of Elevate UAE.

The move is expected to help the group manage its debt and strengthen its overall financial structure.

Related Party Transaction

The investment is classified as a related party transaction because Elevate Campuses is investing in its wholly-owned subsidiary.

However, the company said the transaction does not require prior approval as it is being carried out between the holding company and its wholly-owned subsidiary on an arm’s length basis.

Transaction to Close by October 2026

The securities subscription agreement was signed on 8 October 2026, with the transaction expected to be completed by October 2026.

The Rs 601 crore investment marks a significant capital infusion into Elevate UAE and is part of Elevate Campuses’ broader plan to use IPO proceeds for strengthening its subsidiaries and reducing outstanding debt.