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

Luxury student housing firm The Hive Hostels, operating in over 10 Indian cities, has secured Rs 11.5 crore in pre-IPO funding. Key investors included Shriram Madhav Nene and Max Estates CEO Sahil Vachani. The funds will develop Aurus, a luxury extension, ahead of an IPO planned for next year.