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Jaro Institute of Technology Management & Research Ltd. IPO is a book build issue of ₹450.00 crores. The issue is a combination of fresh issue of 0.19 crore shares aggregating to ₹170.00 crores and offer for sale of 0.31 crore shares aggregating to ₹280.00 crores.
Jaro Institute IPO bidding started from Sep 23, 2025 and ended on Sep 25, 2025. The allotment for Jaro Institute IPO was finalized on Sep 26, 2025. The shares got listed on BSE, NSE on Sep 30, 2025.
Jaro Institute IPO price band is set at ₹890.00 per share . The lot size for an application is 16. The minimum amount of investment required by an retail is ₹14,240 (16 shares) (based on upper price). The lot size investment for sNII is 15 lots (240 shares), amounting to ₹2,13,600, and for bNII, it is 71 lots (1,136 shares), amounting to ₹10,11,040.
Nuvama Wealth Management Ltd. is the book running lead manager and Bigshare Services Pvt.Ltd. is the registrar of the issue.
Refer to Jaro Institute IPO RHP for detailed Information.
| IPO Date | September 23, 2025 to September 25, 2025 |
| Listing Date | September 30, 2025 |
| Face Value | ₹10 per share |
| Issue Price Band | ₹846 to ₹890 per share |
| Issue Price Final | ₹890 per share |
| Lot Size | 16 Shares |
| Sale Type | Fresh Capital-cum-Offer for Sale |
| Total Issue Size | 50,56,179 shares (aggregating up to ₹450.00 Cr) |
| Fresh Issue | 19,10,112 shares (aggregating up to ₹170.00 Cr) |
| Offer for Sale | 31,46,067 shares of ₹10 (aggregating up to ₹280.00 Cr) |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Share Holding Pre Issue | 2,02,46,177 shares |
| Share Holding Post Issue | 2,21,56,289 shares |
Jaro Institute IPO offers total 50,56,179 shares. Out of which 25,28,089 (50.00%) allocated to QIB, 10,11,236 (20.00%) allocated to QIB (Ex- Anchor), 7,58,427 (15.00%) allocated to NII 17,69,663 (35.00%) allocated to RII and 15,16,853 (30.00%) allocated to Anchor investors.
| Investor Category | Shares Offered | Maximum Allottees |
|---|---|---|
| QIB Shares Offered | 25,28,089 (50.00%) | NA |
| − Anchor Investor Shares Offered | 15,16,853 (30.00%) | NA |
| − QIB (Ex. Anchor) Shares Offered | 10,11,236 (20.00%) | NA |
| NII (HNI) Shares Offered | 7,58,427 (15.00%) | NA |
| − bNII > ₹10L | 5,05,618 (10.00%) | 2,106 |
| − sNII < ₹10L | 2,52,809 (5.00%) | 1,053 |
| Retail Shares Offered | 17,69,663 (35.00%) | 1,10,603 |
| Total Shares Offered | 50,56,179 (100.00%) |
Jaro Institute IPO raises ₹135.00 crore from anchor investors. Jaro Institute IPO Anchor bid date is September 22, 2025. Jaro Institute IPO Anchor Investors list
| Bid Date | September 22, 2025 |
| Shares Offered | 15,16,853 |
| Anchor Portion Size (In Cr.) | 135.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | October 26, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | December 25, 2025 |
Jaro Institute IPO opens on September 23, 2025, and closes on September 25, 2025.
| IPO Open Date | Tue, Sep 23, 2025 |
| IPO Close Date | Thu, Sep 25, 2025 |
| Tentative Allotment | Fri, Sep 26, 2025 |
| Initiation of Refunds | Mon, Sep 29, 2025 |
| Credit of Shares to Demat | Mon, Sep 29, 2025 |
| Tentative Listing Date | Tue, Sep 30, 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on Thu, Sep 25, 2025 |
Investors can bid for a minimum of 16 shares and in multiples thereof. The following table depicts the minimum and maximum investment by Individual Investors (Retail) and HNI in terms of shares and amount.
| Application | Lots | Shares | 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 | 1,120 | ₹9,96,800 |
| B-HNI (Min) | 71 | 1,136 | ₹10,11,040 |
Note : The value will be calculated using Equity Dilution = Share Holding Pre Issue - Share Holding Post Issue
Incorporated in 2009, Jaro Institute of Technology Management and Research Limited (Jaro Education) is an online higher education and upskilling platform.
As of March 31, 2025, Jaro has a pan-India presence with over 22 offices-cum-learning centres across major cities for offline learning, along with 17 immersive tech studio set-ups located within various IIM campuses. Through these facilities, the company caters to a total of 36 Partner Institutions.
The company offers and delivers a wide range of online degree programs such as DBA, MBA, M.Com, M.A., PGDM, MCA, M.Sc, B.Com, and BCA, along with cross-disciplinary certification courses. These programs are provided in partnership with 36 institutions, as of March 31, 2025.
As of March 31, 2025, 268 degree programs and certification courses are offered by the company's Partner Institutions, which Jaro Education markets and facilitates.
As of March 31, 2025, the company had 860 employees.
Business Strengths
| Period Ended | 31 Mar 2025 |
| Assets | 276.70 |
| 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 |
| Amount in ₹ Crore | |
KPI as of Mon, Mar 31, 2025.
| KPI | Values |
|---|---|
| ROE | 35.76% |
| ROCE | 37.38% |
| Debt/Equity | 0.30 |
| RoNW | 30.12% |
| PAT Margin | 20.34% |
| EBITDA Margin | 33.13% |
| Price to Book Value | 10.50 |
| Market Capitalization | 1971.91 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS Rs | 25.52 | 23.32 |
| P/E (x) | 34.88 | 38.17 |
The Company Jaro Institute IPO proposes to utilise the Net Proceeds from the Issue towards the following objects:
| S.No. | Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|---|
| 1 | Marketing, brand building and advertising activities | 81.00 |
| 2 | Prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the Company | 45.00 |
| 3 | General corporate purposes | 30.15 |
[Dilip Davda] JITMRL is one of India’s leading online higher education and upskilling platform. It has 36 partner institutions consisting of renowned management and other high degree education universities. The company posted steady growth in its top and bottom lines for the reported periods. Based on its recent financial data, the IPO appears reasonably priced. Investors may park funds for medium to long term, this counter may catch fancy as first mover post listing. Read detail review...
| Period Ended | 31 Mar 2024 | 31 Mar 2023 | |
| Assets | 201.76 | 175.75 | |
| Total Income | 202.57 | 124.59 | |
| Profit After Tax | 37.97 | 11.65 | |
| EBITDA | 63.56 | 25.55 | |
| NET Worth | 117.43 | 77.85 | |
| Reserves and Surplus | 102.39 | 62.80 | |
| Total Borrowing | 24.85 | 37.77 | |
| Amount in ₹ Crore | |||
| Listing Date | September 30, 2025 |
| BSE Script Code | 544534 |
| NSE Symbol | JARO |
| ISIN | INE00YJ01010 |
| Final Issue Price | ₹890 per share |
| NSE Listing Group | EQ (Rolling) |
| Price Details | BSE | NSE |
|---|---|---|
| Final Issue Price | ₹890.00 | ₹890.00 |
| Open | ₹890.00 | ₹890.00 |
| Low | ₹718.00 | ₹717.55 |
| High | ₹890.00 | ₹890.00 |
| Last Trade | ₹745.05 | ₹744.25 |
Jaro Institute of Technology Management & Research Ltd.
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/
Bigshare Services Pvt.Ltd.
Phone: +91-22-6263 8200
Email: ipo@bigshareonline.com
Website: https://ipo.bigshareonline.com/IPO_Status.html
Jaro Institute IPO is a main-board IPO of 50,56,179 equity shares of the face value of ₹10 aggregating up to ₹450.00 Crores. The issue is priced at ₹890 per share. The minimum order quantity is 16.
The IPO opens on September 23, 2025, and closes on September 25, 2025.
Bigshare Services Pvt.Ltd. is the registrar for the IPO. The shares are proposed to be listed on BSE, NSE.
Zerodha customers can apply online in Jaro Institute IPO using UPI as a payment gateway. Zerodha customers can apply in Jaro Institute IPO by login into Zerodha Console (back office) and submitting an IPO application form.
Steps to apply in Jaro Institute IPO through Zerodha
Visit Zerodha IPO Application Process Review for more detail.
The Jaro Institute IPO opens on September 23, 2025 and closes on September 25, 2025.
Jaro Institute IPO lot size is 16, and the minimum amount required for application is ₹14,240.
You can apply in Jaro Institute IPO online using either UPI or ASBA as a payment method. ASBA IPO application is available in the net banking of your bank account. UPI IPO Application is offered by brokers who don't offer banking services. Read more detail about applying IPO online through Zerodha, Upstox, 5Paisa, Nuvama, HDFC Bank, and SBI Bank.
The finalization of Basis of Allotment for Jaro Institute IPO will be done on Friday, September 26, 2025, and the allotted shares will be credited to your demat account by Monday, September 29, 2025. Check the Jaro Institute IPO allotment status.
The Jaro Institute IPO listing date is on Tuesday, September 30, 2025.
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