• IPO proceeds allocation: The ₹2,100 crore fresh issue will be utilized with ₹1,100 crore for acquiring identified K-12 assets, ₹750 crore for debt prepayment, and ₹250 crore for general corporate purposes.
• Core business verticals: The business model spans on-campus student accommodation management under long-term or freehold ownership and leasing owned K-12 school assets, delivering predictable and defensive cash flows.
• Corporate structure rationale: The company chose an operating corporate structure over a dividend-distributing REIT to reinvest surplus cash flows into accretive asset acquisitions over the next 3 to 4 years before considering payouts.
• Current asset footprint: The company currently partners with 19 higher education institutions and owns 18 schools, targeting large growth headrooms across India's 58,000 universities and colleges and 1.5 million schools.