Elevate Campuses is preparing to launch a 25.55-billion rupee ($267 million) initial public offering as early as August, according to sources familiar with the matter. The move positions the company as India’s first listed operator of student dormitories.

Backed by Hillhouse Investment Management Ltd., the firm aims to tap a rapidly growing market for on‑campus housing. The offering will provide investors exposure to a niche segment that has traditionally been unlisted, potentially reshaping the student accommodation landscape.

The IPO marks a significant milestone for the Indian education infrastructure sector, which has seen increasing demand for quality housing near universities. Listing the company could attract foreign capital and set a precedent for other niche operators.

Regulatory approvals are underway, and the company has indicated that the shares could begin trading by the end of August, pending market and legal clearance.