Jaro Institute of Technology Management And Research IPO was subscribed 0.87 times on the first day.
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.
Qualified Institutional Buyers 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.
Use Of Proceeds
The company will use proceeds from the IPO for marketing, clearing debt and for general corporate purposes.
IPO Details
Open date: Sept. 23
Close date: Sept. 25
Face Value: Rs 10
Issue Price: Rs 840-890
Lot Size: 16
Tentative Allotment date: Sept. 26
Tentative Listing date: Sept. 30
IPO size: Rs 143 crore
Minimum bid: Lot size of 235 shares
Jaro Institute GMP
The Jaro Institute of Technology Management and Institute's grey market premium was at Rs 123 as of 7:31 p.m., as per data on Investorsgain website. The listing price will likely be Rs 1,013 apiece, which implies listing gain of 13.82%.
Jaro Institute IPO Subscription Status
The IPO was subscribed 0.87 times or 87% as of 5:00 p.m., as per BSE data.
Qualified Institutional Buyers: 0.47 times or 47%.
Non-Institutional Buyers: 1.82 times.
Retail Investors: 0.70 times or 70%.
About Jaro Institute
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.
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