Student housing company The Hive Hostels raises Rs 11.5 crore in pre-IPO funding

New Delhi: Luxury student housing company The Hive Hostels, which operates in over 10 cities across India, has raised a pre-IPO funding of Rs 11.5 crore.

This funding round featured participation from Shriram Madhav Nene, Anmol Sood, Sahil Vachani, Managing Director and CEO of Max Estates, and Rohit Kothari’s Anchorage Capital Fund.

The Hive Hostels, is gearing planning for an Initial Public Offering (IPO) by the second half of next year.


Kyro Capital Private Limited, led by Aman Maheshwari, served as the investment banker for The Hive Hostels during this round.

The funds raised will be channelled into the development of Aurus, a luxury extension of The Hive Hostels designed to offer exclusive and high-end student residences.

The Hive Hostels has also launched Hive Campus Living which will focus on managing in-house hostel operations for universities.

"We see a huge demand for high-quality student accommodations and are committed to meeting this need with our innovative solutions. Our upcoming IPO and the launch of Hive Campus Living are key steps in expanding our impact and enhancing the student experience,” said founder Bharat Agarwal.

Before this funding round, The Hive Hostels had been bootstrapped and profitable. The company is on track to achieve a revenue of Rs 60 crore for the current fiscal year.