Jaro Institute of Technology Management & Research IPO
Bookbuilding IPO | ₹450.00 Cr | Listing at BSE, NSE
IPO Open
Tue, Sep 23, 2025
IPO Close
Thu, Sep 25, 2025
Price Band
₹846.00 to ₹890.00
Market Cap (Pre-IPO)
₹1,971.91 Cr
IPO Details
| IPO Date | Sep 23, 2025 to Sep 25, 2025 |
| Listing Date | Sep 30, 2025 |
| Face Value | ₹10.00 per share |
| Price Band | ₹846.00 to ₹890.00 |
| Lot Size | 16 Shares (Minimum: ₹14,240.00) |
| Sale Type | Offer For Sale + Fresh Issue |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Issue Size | ₹450.00 Crores |
| Total Shares Offered | 5,056,179 shares |
| Fresh Issue | 1,910,112 shares |
| Offer For Sale | 3,146,067 shares |
Subscription Data
| Category | Times Subscribed |
|---|---|
| QIB | 37.19x |
| NII | 37.32x |
| RII | 9.15x |
| Total | 23.20x |
Jaro Institute of Technology Management & Research IPO Reservation
| Investor Category | Shares Offered |
|---|---|
| QIB Shares Offered | 25,28,089 (50.00%) |
| Retail Shares Offered | 7,58,427 (15.00%) |
| NII Shares Offered | 17,69,663 (35.00%) |
Jaro Institute of Technology Management & Research IPO Lot Size
Investors can bid for a minimum of 16 shares and in multiples thereof.
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 16 | ₹14,240 |
| Retail (Max) | 14 | 224 | ₹199,360 |
| S-HNI (Min) | 15 | 240 | ₹213,600 |
| S-HNI (Max) | 70 | 1,120 | ₹996,800 |
| B-HNI (Min) | 71 | 1,136 | ₹1,011,040 |
Jaro Institute of Technology Management & Research Financial Information (Restated Consolidated)
| Period Ended | 31 Mar 2025 |
|---|---|
| Assets | 276.70 |
| Total Income | 254.02 |
| Profit After Tax | 51.67 |
| EBITDA | 83.58 |
| NET Worth | 171.55 |
| Reserves and Surplus | 151.31 |
| Total Borrowing | 51.11 |
Amount in ₹ Cr
Key Performance Indicators
As of Monday, March 31, 2025| KPI | Values |
|---|---|
| ROE (Return on Equity) | 35.76% |
| ROCE (Return on Capital Employed) | 37.38% |
| Debt/Equity | 0.30 |
| RoNW (Return on Net Worth) | 30.12% |
| PAT Margin (Profit After Tax Margin) | 20.34% |
| EBITDA Margin | 33.13% |
| Price to Book Value | 10.50 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 25.52 | 23.32 |
| P/E (x) | 34.88 | 38.17 |
| Promoter Holding | 78.28% | 57.32% |
Company Promoters
- Sanjay Namdeo Salunkhe and Balkrishna Namdeo Salunkhe are the promoters of the company.
Company Overview
Incorporated in 2009, Jaro Institute of Technology Management and Research Limited (Jaro Education) is an online higher education and upskilling platform.
As of March 31, 2025, Jaro has a pan-India presence with over 22 offices-cum-learning centres across major cities for offline learning, along with 17 immersive tech studio set-ups located within various IIM campuses. Through these facilities, the company caters to a total of 36 Partner Institutions.
The company offers and delivers a wide range of online degree programs such as DBA, MBA, M.Com, M.A., PGDM, MCA, M.Sc, B.Com, and BCA, along with cross-disciplinary certification courses. These programs are provided in partnership with 36 institutions, as of March 31, 2025.
As of March 31, 2025, 268 degree programs and certification courses are offered by the company's Partner Institutions, which Jaro Education markets and facilitates.
As of March 31, 2025, the company had 860 employees.
Company Strengths
- Market leading position in online higher education and upskilling space
- Comprehensive solutions to Partner Institutions and Learners
- High revenue predictability backed by long-lasting, robust client relationships
- Proven track record in facilitating delivery of high quality and diversified offerings
- Leveraging technology and digitalization
- Experienced senior management team with deep industry expertise and proven track record
Use of Proceeds
| 1) | Marketing, brand building and advertising activities | 81.00 |
| 2) | Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the Company | 45.00 |
| 3) | General corporate purposes | 30.15 |
Objectives
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
Quick Info
| Sector | Education |
| Exchange | BSE, NSE |
| Market Cap (Pre-IPO) | ₹1,971.91 Cr |
Important Dates
| IPO Open | Sep 23, 2025 |
| IPO Close | Sep 25, 2025 |
| Allotment Date | Sep 26, 2025 |
| Credit to Demat | Sep 29, 2025 |
| Listing Date | Sep 30, 2025 |
Lead Manager(s)
Nuvama Wealth Management Ltd.
Registrar
Bigshare Services Pvt.Ltd.
+91-22-6263 8200
Description
- Jaro Institute of Technology Management & Research Ltd. IPO is a book build issue of ₹450.00 crores. The issue is a combination of fresh issue of 0.19 crore shares aggregating to ₹170.00 crores and offer for sale of 0.31 crore shares aggregating to ₹280.00 crores.
- Jaro Institute IPO bidding started from Sep 23, 2025 and ended on Sep 25, 2025. The allotment for Jaro Institute IPO was finalized on Sep 26, 2025. The shares got listed on BSE, NSE on Sep 30, 2025.
- Jaro Institute IPO price band is set at ₹890.00 per share . The lot size for an application is 16. The minimum amount of investment required by an retail is ₹14,240 (16 shares) (based on upper price). The lot size investment for sNII is 15 lots (240 shares), amounting to ₹2,13,600, and for bNII, it is 71 lots (1,136 shares), amounting to ₹10,11,040.