Jaro Institute IPO Day 2 LIVE: Jaro Institute of Technology Management and Research (Jaro Education) launches its initial public offering (IPO) for subscription between September 23 and September 25. Jaro Institute IPO price band is set between ₹846 and ₹890 per share for its first public offering. Jaro Institute IPO GMP today is ₹123.
Jaro Institute IPO includes a fresh issue of shares amounting to ₹170 crore, alongside an Offer for Sale (OFS) of shares worth ₹280 crore from promoter Sanjay Namdeo Salunkhe.
From the fresh issuance, ₹81 crore is allocated for marketing, brand development, and advertising, ₹45 crore is intended for debt repayment, and the remaining amount is designated for general corporate purposes.
Established in 2009 by Salunkhe, Jaro Education provides degree and certification programs in partnership with various institutions. Nuvama Wealth Management, Motilal Oswal Investment Advisors, and Systematix Corporate Services act as the lead managers for the IPO, while Bigshare Services serves as the IPO registrar.
(Stay tuned for more updates)
