Scrip Code / Symbol: BSE: 544945, NSE: ELEVATE

Nature and Purpose of the Meeting

Investment Committee meeting held on October 30, 2026 to approve the acquisition of hostel accommodation and allied services undertakings from O.P. Jindal Global University by GHS Sonipat II Private Limited, a wholly owned subsidiary.

Details of Resolutions Passed

The Investment Committee approved the execution of definitive documents for GHS Sonipat II to acquire:

  • Hostel accommodation undertaking of 2 hostel blocks (SH12 and SH14) comprising 2,450 beds
  • Other allied services undertaking (mess, laundry, security services) for 3 hostel blocks (SH11, SH12 and SH14)

Financial Impact

  • Total investment required: ₹1,350,00,00,000 (₹1,350 crore) payable to the University over 9 years
  • First tranche: ₹150,00,00,000 (₹150 crore) on execution of definitive documents
  • Mode of financing: Combination of equity infusions, internal accruals, inter-corporate deposits from parent company, and debt financing by GHS Sonipat II

Capacity Impact

  • Existing capacity: 885 beds in hostel block SH11
  • Proposed capacity addition: 2,450 beds in blocks SH12 and SH14
  • Post-transaction total capacity: 10,500 beds managed by Elevate through subsidiaries
  • Existing capacity utilization: Operating at optimal capacity

Timing of the Meeting

Meeting commenced at 11:05 a.m. (IST) and concluded at 12:00 noon (IST)

Compliance References

  • Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Para B of Part A of Schedule III of SEBI Listing Regulations
  • SEBI Master Circular No. HO/49/14/14(7)2025-CFD POD2/I/3762/2026 dated January 30, 2026

Conditions and Timeline

  • Definitive documents to be executed within 2 days of disclosure
  • Subject to completion of due diligence
  • Subject to completion of conditions precedent and closing actions
  • Subject to receipt of all necessary approvals

Rationale

The Proposed Transaction is intended to strengthen the Company's operational capabilities within the University, deepen engagement with the University and its students, enhance student experience, and provide better facilities and services to students.

Additional Information

  • The company commenced provision of hostel accommodation and allied services in the campus from 2020
  • This disclosure will be uploaded on the Company's website at www.elevatecampuses.com