Jaro Institute IPO GMP: What Does Grey Market Premium Signal On Final Day Of Subscription
The grey market premium trends for the Jaro Institute of Technology Management and Research IPO suggest an estimated listing gain of up to 13% when the shares list on the market next week.
The initial public offering (IPO) of Jaro Institute, which opened on Tuesday, September 23, will close for subscription today, September 25.
The IPO was booked 4.37 times as of 12:12 p.m. on Thursday. Investors bid for 1,62,84,848 shares against the 37,23,404 shares on offer.
The unlisted shares of Jaro Institute of Technology Management and Research have been trading at a premium in the grey market, indicating positive listing gains for investors.
As the Day 3 subscription gets underway, the GMP for the Jaro Institute of Technology Management and Research Limited remains in focus on the final day of bidding.
Jaro Institute of Technology Management and Research IPO GMP Today
The GMP for the Jaro Institute IPO stood at Rs 115 per share as of 11:00 a.m. on September 25. The latest GMP indicates a listing price of Rs 1005 apiece, at a premium of 12.92% compared to the upper limit of the issue price.
This means the unlisted shares of Jaro Institute of Technology Management and Research Limited were trading at Rs 1005 at the private market. Investors who have applied for the public issue can expect a gain of around 13% when the shares list on the markets next week.
The highest GMP recorded for the public issue was Rs 123 when the IPO opened for subscription.
Note: GMP does not represent official data and is based on speculation. GMP data sourced from InvestorGain.
Jaro Institute IPO: Price Band, Issue Size And More
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 is 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 is 16. The minimum amount of investment required by a retail investor is Rs 14,240.
Nuvama Wealth Management Ltd. is the book-running lead manager and Bigshare Services Pvt.Ltd is the registrar of the issue.
Jaro Institute is an edtech company that offers higher education solutions. It was founded in 2009.
Jaro Institute IPO: Allotment And Listing Date
The allotment of shares is proposed to be done on September 26. Shares of Jaro Institute are expected to be listed on the BSE and NSE on September 30.
Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
