Jaro Institute of Technology Management & Research IPO: The initial public offering of Jaro Institute of Technology Management & Research opens for subscription tomorrow, September 23 and will close on September 25. The company aims to raise ₹450 crore through the IPO and list the shares on NSE and BSE.
Here are 10 key things investors need to know about the public offer before subscribing to the issue.
1) IPO size: The IPO comprises a fresh issue of 0.19 crore shares aggregating to ₹170.00 crore and an offer for sale of 0.31 crore shares aggregating to ₹280.00 crore. Promoter Sanjay Namdeo Salunkhe is selling equity shares worth ₹400 crore through the OFS route. Salunkhe holds a majority 78.2 percent stake in the company, according to the draft red herring prospectus (DRHP).
2) Price band: The company is offering its shares at ₹846–890 each, with a lot size of 16 shares. This requires a minimum investment of ₹14,240.
3) Objective: As the IPO is entirely an OFS, the company will not receive any proceeds from the share sale. The issue provides promoters and selling shareholders with an exit route.
4) Important dates: The allotment for the Jaro Institute IPO is expected to be finalized on Friday, September 26, 2025. Credit of shares to Demat accounts and initiation of refunds will occur on September 29, 2025. The IPO is scheduled to list on BSE and NSE on a tentative date of September 30, 2025.
5) Issue structure: Up to 50 percent of the offer is reserved for QIB investors, a minimum of 35 percent for retail investors, and at least 15 percent for non-institutional investors.
6) About the firm: Jaro Education was founded in 2009 by Sanjay Salunkhe, who serves as chairman and managing director. The institute provides technology-driven degree programs and certification courses in collaboration with its partner institutions, serving both students and C-Suite professionals. As of March 31, 2024, Jaro Education has over 22 offices and learning centres across major Indian cities for offline learning, along with 15 tech studio setups on IIM campuses. It collaborates with 34 partner institutions, including top Indian institutes like IITs and IIMs, and global institutions such as the Swiss School of Management and the Rotman School of Management, University of Toronto.
7) Financials: In FY24, the company reported operational revenue of ₹199 crore, marking a 63 percent increase compared to FY23.
8) Promoters’ stake: Promoters and promoter group entities hold 85.03 percent of the company, while public shareholders own the remaining 14.97 percent.
9) Lead manager and registrar: Nuvama Wealth Management, Motilal Oswal Investment Advisors, and Systematix Corporate Services are appointed as book running lead managers, with Bigshare Services serving as the registrar for the IPO.
10) Jaro Institute GMP: The company’s shares in the grey market continued trading at a premium of ₹108. This indicates an estimated listing price of ₹998, up 12.13 percent from the IPO price of ₹890.
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