08-Oct-2026 10:46:17
ELEVATE : INVESTS RS 601 CR IN WHOLLY OWNED SUBSIDIARY ELEVATE UAE
• Company subscribes to 59,061,905 Class A Optionally Convertible Redeemable Preference Shares to be issued by Elevate UAE Assetco Holdings Pte. Ltd. at USD 1.05 per OCRPS • Aggregate consideration USD 62,015,000.25 (~₹601 Cr), cash consideration • Elevate UAE is a material wholly owned subsidiary incorporated in Singapore; ownership and control stays at 100% post investment • Proceeds to be used partly/fully towards prepayment or repayment of outstanding borrowings of Souk HIS Holdings Limited, UAE, a step-down wholly owned subsidiary of Elevate UAE • Investment is in line with IPO documents stating a portion of net proceeds would be infused into subsidiaries • Elevate UAE net worth as on March 31, 2026 stood at ₹1,197.82 Cr; turnover for FY26 nil
Elevate Campuses Ltd
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