Jaro Institute Sets IPO Price Band At Rs 846-890, Issue Opens Sept. 23

Jaro Institute Ltd., which operates under the brand 'Jaro Education', has set the price band at Rs 846 to Rs 890 per share for its initial public offering launching next week.

The Rs 450-crore IPO is a combination of a fresh issue of Rs 170 crore and an offer for sale of 0.31 crore shares aggregating to Rs 280 crore by promoter Sanjay Namdeo Salunkhe

Bidding will start on Sept. 23 and close on Sept. 25. The allotment of shares to IPO investors will be on Sept. 26.

Jaro Institute will list on the BSE and NSE on Sept. 30.

The lot size for an application is 16, which means the minimum amount of investment required by a retail investor is Rs 14,240 based on the upper price band.

The company will seek investments from large institutions under the pre-IPO anchor round on Sept. 22.

Jaro Institute of Technology Management and Research is an online higher education company. It was founded in 2009 Sanjay Namdeo Salunkhe.

As of March 2025, it has over 22 offices-cum-learning centres across major cities for offline learning, apart from 17 immersive tech studio set-ups in the campuses of various IIMs, and cater to a total of 36 partner institutions such as IITs, IIMs and premier global institutions like Swiss School of Management and Rotman School of Management, University of Toronto. It offers 268 course offerings and programs of diverse domains.

Of the fresh issue proceeds, the company will deploy Rs 81 crore for marketing, brand building and advertising activities, and Rs 45 crore for repaying debt.

Nuvama Wealth Management Ltd., Motilal Oswal Investment Advisors Ltd., and Systematix Corporate Services Ltd. are the book-running lead managers.