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Elevate Campuses Limited secures USD 620 million investment to repay Souk HIS Holdings Limited borrowings
08-Oct-2026, 11:02

Elevate Campuses Limited, formerly Good Host Spaces Limited, has executed a securities subscription agreement with its wholly owned subsidiary, Elevate UAE Assetco Holdings Pte. Ltd., to subscribe to 59,061,905 Class A Optionally Convertible Redeemable Preference Shares for USD 6,20,15,000.25, approximately Rs 601 crore. The investment, approved by the company’s board on September 28, 2026, will be used to prepay or repay outstanding borrowings of Souk HIS Holdings Limited, a step-down wholly owned subsidiary of Elevate UAE, and aligns with disclosures made during Elevate Campuses Limited’s initial public offering.