Jaro Institute IPO GMP In Focus Today: Check Price Band, Grey Market Premium And Other Key Details

Jaro Institute is set to launch an initial public offering (IPO) on September 23 to raise Rs 450 crore from the primary market. The company offers higher education services online.

Before its launch, the grey market premium (GMP) indicated a premium of close to 13% for the issue. 

Those who participate in the IPO must check the following details before making an investment call. 

The latest GMP for the Jaro Institute IPO was Rs 122 on September 23. It indicates a listing price of Rs 1,012 apiece at a premium of 13.71% on the upper limit of the price band.

This means the unlisted shares of Jaro Institute of Technology Management & Research Ltd. were trading at Rs 1,012 at the private market ahead of today's launch.

Note: GMP does not represent official data and is based on speculation. GMP Data sourced from InvestorGain.

The Jaro Institute IPO is a book build issue of Rs 450 crore. It comprises a fresh issue of 19 lakh shares amounting to Rs 170 crore and an offer-for-sale (OFS) of 31 lakh shares worth Rs 280 crores.

The price band for the IPO is set between Rs 846 and Rs 890 per share.

Retail investors can participate in the IPO by bidding for a single lot size of 16 shares, leading to an investment of Rs 14,240. Small Non-Institutional Investors need to bid for 15 lots, amounting to an investment of Rs 2,13,600. Big Non-Institutional Investors can participate in the IPO by bidding for a minimum of 71 lots. It will require an investment of Rs 10,11,040.

Qualified Institutional Buyers (QIBs) will be offered a maximum of 50% of the offer size. Retail investors will be allocated a minimum of 35% of the offer and at least 15% will be reserved for Non-Institutional Investors. 

Nuvama Wealth Management Ltd. is the book-running lead manager and Bigshare Services Ltd. is the registrar of the issue.

Investors can bid for shares in the IPO from September 23 to September 25. The share allotment status is expected to be finalised on September 26. The company will transfer shares to the demat accounts of successful bidders on September 29, and refunds for non-allottees will be done on the same day. 

The shares of Jaro Institute of Technology Management & Research Ltd. are scheduled to list on the BSE and NSE on September 30.

Use Of Proceeds

The company will use proceeds from the IPO for marketing, clearing debt and for general corporate purposes.

Jaro Institute of Technology Management & Research Ltd. is an edtech company that offers higher education solutions. It was founded in 2009.

Financials

The company reported a 36.1% year-on-year (YoY) increase in profit after tax (PAT) to Rs 51.67 crore in FY25 from Rs 37.97 crore in FY24. Total income rose 25.4% YoY to Rs 254.02 crore in FY25 from Rs 202.57 crore in FY24.

Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.