Allotment

Jaro Institute of Technology Management & Research Ltd. (Jaro Education) launched a book-built IPO with a total issue size of ₹450.00 crore. The issue comprises a fresh issue of 0.19 crore shares aggregating to ₹170.00 crore, along with an offer for sale of 0.31 crore shares amounting to ₹280.00 crore.
The IPO was open for subscription from September 23, 2025, to September 25, 2025, with the allotment finalized on September 26, 2025. The shares were subsequently listed on BSE and NSE on September 30, 2025.
The price band for the IPO was set at ₹890 per share. The minimum application lot for retail investors was 16 shares, requiring a minimum investment of ₹14,240 at the upper price. For non-institutional investors:
sNII (Small NII): 15 lots (240 shares) amounting to ₹2,13,600
bNII (Big NII): 71 lots (1,136 shares) amounting to ₹10,11,040
Nuvama Wealth Management Ltd. served as the book-running lead manager, while Bigshare Services Pvt. Ltd. acted as the registrar for the issue.
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IPO Market price
| IPO Date | 30 Sep |
| IPO Listing Date | 30 Sep |
| IPO Face Value | ₹10.00 per share |
| IPO Price Range | ₹890.00 |
| IPO Issue Size | 50,56,179 shares |
| IPO Sale Type | Fresh Capital & OFS |
| Employee Discount | - |
| IPO Issue Type | Book Building IPO |
| IPO Listing | BSE, NSE Platform |
| Share Holding Pre Issue | 2,02,46,177 shares |
| IPO Open Date | 23 Sep |
| IPO Close Date | 25 Sep |
| IPO Allotment (Tentative) | 26 Sep |
| Refunds | 29 Sep |
| Credit to Demat Account | 29 Sep |
| IPO Listing Date | 30 Sep |
| Category | Offer |
|---|---|
| QIB Shares Offered | 10,63,829 Shares |
| NII (HNI) Shares Offered | 7,97,873 Shares |
| Retail Shares Offered | 18,61,702 Shares |
Investors can bid for a minimum of 16 shares, with additional shares to be purchased in multiples of 16.
| Application | Lots | Share | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 16 | ₹14,240 |
| Retail (Max) | 14 | 224 | ₹1,99,360 |
| S-HNI (Min) | 15 | 240 | ₹2,13,600 |
| S-HNI (Max) | 70 | 2,814 | ₹9,96,800 |
| B-HNI (Min) | 71 | 2,856 | ₹10,11,040 |
As of March 31, 2025, Jaro Education has established a pan-India presence with over 22 offices-cum-learning centres across major cities to support offline learning, along with 17 immersive technology studio setups located within various IIM campuses. Through this extensive infrastructure, the company partners with 36 institutions across the country.
Jaro Education offers and facilitates a wide range of online degree programs, including DBA, MBA, M.Com, M.A., PGDM, MCA, M.Sc, B.Com, and BCA, as well as cross-disciplinary certification courses. These programs are delivered in collaboration with 36 partner institutions, which collectively offered 268 degree programs and certification courses as of March 31, 2025. Jaro’s role includes marketing, enrollment, and learner support for these offerings.
As of March 31, 2025, the company employed 860 professionals.
Business Strengths
Market-leading position in the online higher education and upskilling segment
End-to-end solutions for partner institutions and learners
High revenue visibility supported by long-term, strong institutional relationships
Proven track record in enabling the delivery of high-quality and diversified academic programs
Strong focus on technology and digital platforms to enhance learning outcomes
Experienced senior management team with deep industry knowledge and a successful execution history
| Assets | 276.7 | - | - |
| Total Income | 254.02 | - | - |
| Profit After Tax | 51.67 | - | - |
| EBITDA | 83.58 | - | - |
| NET Worth | 171.55 | - | - |
| Reserves and Surplus | 151.31 | - | - |
| Total Borrowing | 51.11 | - | - |
| ROE | 35.76% |
| ROCE | 37.38% |
| Debt/Equity | 0.3 |
| RoNW | 30.12% |
| PAT Margin | 20.34% |
| EBITDA Margin | 33.13% |
| Price to Book Value | 10.5 |
IPO Objects of the Issue
| S.No. | Objects of the ipo Resources Detail | IPO Amount |
|---|---|---|
| 1 | Funding capital expenditure requirements for the purchase of equipment/machineries | - |
| 2 | To meet out the expenses of Working Capital Requirement | - |
| 3 | To meet out the General Corporate Purposes; | 30.15 |
| 4 | Offer for Sale (OFS) | - |
Jaro Institute of Technology Management & Research Ltd. Address
11th Floor, Vikas Centre,
Dr. C.G. Road,
Chembur – East,
Mumbai, Maharashtra, 400074
Phone: 022 2520 5763
Email: cs@jaro.in
Website: https://www.jaroeducation.com/
IPO Registrar
Bigshare Services Pvt.Ltd.
+91-22-6263 8200
ipo@bigshareonline.com