Bookbuilding IPO | ₹450 Cr | Listed at BSE, NSE | Tue, Sep 23, 2025 - Thu, Sep 25, 2025
Jaro Institute 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 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 Open
Tue, Sep 23, 2025
IPO Close
Thu, Sep 25, 2025
Issue Price
₹890 per share
Market Cap (Pre-IPO)
₹1,971.91 Cr
| IPO Date | 23 to 25 Sep, 2025 |
| Listed on | Tue, Sep 30, 2025 |
| Face Value | ₹10 per share |
| Price Band | ₹846 to ₹890 |
| Issue Price | ₹890 per share |
| Lot Size | 16 Shares |
| Sale Type | Fresh capital cum OFS |
| Issue Type | Bookbuilding IPO |
| Listing At | BSE, NSE |
| Total Issue Size | 50,56,179 shares (agg. up to ₹450 Cr) |
| Fresh Issue | 19,10,112 shares (agg. up to ₹170 Cr) |
| Offer for Sale | 31,46,067 shares of ₹10 (agg. up to ₹280 Cr) |
| Share Holding Pre Issue | 2,02,46,177 shares |
| Share Holding Post Issue | 2,21,56,289 shares |
| BSE Script Code / NSE Symbol | 544534 / JARO |
| ISIN | INE00YJ01010 |
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 | Max 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%) |
Investors can bid for a minimum of 16 shares and in multiples thereof.
| 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 |
Jaro Institute IPO raises ₹135.00 crore from anchor investors. Jaro Institute IPO Anchor bid date is September 22, 2025.
📝 Anchor Investors Letter (PDF)
| Bid Date | Mon, Sep 22, 2025 |
| Shares Offered | 15,16,853 |
| Anchor Portion (₹ Cr.) | 135.00 |
| Anchor lock-in period end date for 50% shares (30 Days) | Sun, Oct 26, 2025 |
| Anchor lock-in period end date for remaining shares (90 Days) | Thu, Dec 25, 2025 |
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 | |
The Company proposes to utilise the Net Proceeds from the Issue towards the following objects:
| # | Issue Objects | Est Amt (₹ Cr.) |
|---|---|---|
| 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 |
| KPI | Mar 31, 2025 |
|---|---|
| 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 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (₹) | 25.52 | 23.32 |
| P/E (x) | 34.88 | 38.17 |
| Promoter Holding | 78.28% | 57.32% |
| Market Cap | ₹1,971.91 Cr. |
The Jaro Institute IPO is subscribed 23.20 times on September 25, 2025 5:05:12 PM (Day 3). The public issue subscribed 9.15 times in the retail category, 37.19 times in the QIB category, and 37.32 times in the NII category. Check Day by Day Subscription Details (Live Status)
| Category | Subscription (times) | Shares Offered | Shares bid for |
|---|---|---|---|
| QIB (Ex Anchor) | 37.19 | 10,11,236 | 3,76,10,352 |
| NII | 37.32 | 7,58,427 | 2,83,04,352 |
| bNII (bids above ₹10L) | 35.59 | 5,05,618 | 1,79,96,512 |
| sNII (bids below ₹10L) | 40.77 | 2,52,809 | 1,03,07,840 |
| Retail | 9.15 | 17,69,663 | 1,61,91,616 |
| Total | 23.20 | 35,39,326 | 8,21,06,320 |
Total Application : 9,75,126
| 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 | |||
| # | Issue Expenses | Est Amt (₹ Cr.) |
|---|---|---|
| 1 | Book Running Lead Managers’ fees and commissions (including underwriting commission, brokerage and selling commission) | 21.24 |
| 2 | Commission/ processing fee for SCSBs and Bankers to the Offer and fees payable to the Sponsor Bank(s) for Bids made by UPI Bidders. Brokerage, selling commission and bidding charges for the members of the Syndicate, Registered Brokers, RTAs and CDPs | 1.58 |
| 3 | Fees payable to the Registrar to the Offer | 0.88 |
| 4 | Fees payable to advisors and consultants to the Offer: Statutory Auditors | 1.43 |
| 5 | Fees payable to advisors and consultants to the Offer: Independent Chartered Accountant | 0.25 |
| 6 | Fees payable to advisors and consultants to the Offer: Industry expert | 0.38 |
| 7 | Fee payable to legal counsels | 5.13 |
| 8 | Fees payable to Practicing Company Secretary | 0.37 |
| 9 | Listing fees, SEBI filing fees, upload fees, BSE and NSE processing fees, book building software fees and other regulatory expenses | 2.30 |
| 10 | Printing and stationery expenses | 1.10 |
| 11 | Advertising and marketing expenses | 1.93 |
| 12 | Miscellaneous | 0.06 |
| 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 IPO is a main-board IPO of 50,56,179 equity shares of the face value of ₹10 aggregating up to ₹450 Crores. The issue is priced at ₹890 per share. The minimum order quantity is 16.
The IPO opens on Tue, Sep 23, 2025, and closes on Thu, Sep 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 Tue, Sep 23, 2025 and closes on Thu, Sep 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 Mon, Sep 29, 2025. Check the Jaro Institute IPO allotment status.
The Jaro Institute IPO listing date is on Tue, Sep 30, 2025.
