Shares Of Jaro Institute To List Today; Check Latest GMP Ahead Of Market Debut

The GMP for the Jaro Institute of Technology Management & Research IPO was Rs 43 as of 8:30 a.m. on September 30. This indicates a listing price of Rs 933 per share at a premium of 4.83% on the upper limit of the price band.

This means the unlisted shares of the company were trading at Rs 933 in the private market ahead of listing on Tuesday. Investors can expect a potential gain of up to 5% when shares debut on the BSE and NSE today.

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 crore.

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

The mainboard issue was fully subscribed on Day 2, following a muted response on Day 1, which saw the IPO getting subscribed 0.87 times on Tuesday.

The lot size for an application was 16. The minimum amount of investment required by a retail investor asw Rs 14,240.

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

Use Of Proceeds

Of the fresh issue proceeds, the company will deploy Rs 81 crore for marketing, brand building and advertising activities, and Rs 45 crore for prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company.