Jaro Institute IPO is a bookbuilt issue of ₹450.00 crore. It combines a fresh issue of 0.19 crore shares aggregating to ₹170.00 crore and an offer for sale of 0.31 crore shares aggregating to ₹280.00 crore.
The IPO opens for subscription on September 23, 2025, and closes on September 25, 2025. The allotment is expected to be finalized on Friday, September 26, 2025. The price band for the IPO is set at ₹846 to ₹890 per share, and the minimum lot size for an application is 16 shares.
Company Summary
Incorporated in 2009, Jaro Institute of Technology Management and Research Limited (Jaro Education) is an online higher education company. The company has a pan-India presence of 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. Jaro Education caters to a total of 34 Partner Institutions, as of March 31, 2025.
The company’s roster of 36 partnerships comprises premier Partner Institutions both in India and globally, including IITs, IIMs, and premier global institutions such as Swiss School of Management and Rotman School of Management, University of Toronto, and top corporates, out of which 29 institutions have earned the distinction of being ranked among the top 100 partners in their respective streams by NIRF, as of 2025.
Jaro Education has also received appreciation from Symbiosis International (Deemed University), IITs, and IIMs for supporting them in technology and infrastructure support for lecture delivery, marketing and promotion, and student acquisitions and support.
As of March 31, 2025, the company offers a total of 268 Degree programs and courses, including Doctor of Business Administration (“D.B.A”), Master of Business Administration (“M.B.A”), Master of Commerce (“M.Com.”), Master of Arts (“M.A.), Post Graduate Diploma in Management (“P.G.D.M”), Master of Computer Applications (“M.C.A”), Bachelor of Commerce (“B.Com”), Bachelor of Computer Applications (“BCA”), and other degree programs.
Offers online, hybrid, and in-person certification courses in management, fintech, data science, business analytics, design thinking, and digital marketing. It has partnered with 36 Partner Institutions, comprising 16 Tier-1 universities and institutions in India (including 7 IIMs, 7 IITs, and 15 Tier-2 Universities).
Company Strengths
- Market-leading position in online higher education and upskilling space.
- Comprehensive solutions to Partner Institutions and Learners.
- High revenue predictability backed by long-lasting, robust client relationships.
- Proven track record in facilitating the delivery of high-quality and diversified offerings.
- Leveraging technology and digitalization.
- Experienced senior management team with deep industry expertise and proven track record.
Company Financials
Period Ended | 31 Mar 2025 | 31 Mar 2024 | 31 Mar 2023 |
Assets | 276.7 | 201.76 | 175.75 |
Total Income | 254.02 | 202.57 | 124.59 |
Profit After Tax | 51.67 | 37.97 | 11.65 |
EBITDA | 83.58 | 63.56 | 25.55 |
Net Worth | 171.55 | 117.43 | 77.85 |
Reserves and Surplus | 151.31 | 102.39 | 62.8 |
Total Borrowing | 51.11 | 24.85 | 37.77 |
Amount in ₹ Crore |
Objectives of IPO
- Marketing, brand building, and advertising activities
- Prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the Company
- General corporate purposes
Promoters of the company
Sanjay Namdeo Salunkhe and Balkrishna Namdeo Salunkhe are the promoters of the company.
IPO Details
IPO Date | September 23, 2025, to September 25, 2025 |
Listing Date | September 30, 2025 |
Face Value | ₹10 per share |
Price Band | ₹846 to ₹890 per share |
Lot size | 16 shares |
Total Issue size | 50,56,179 shares (aggregating upto ₹450.00 Cr ) |
Fresh Issue | 19,10,112 shares (aggregating upto ₹170.00 Cr ) |
Offer for Sale | 31,46,067 shares of ₹10 (aggregating upto ₹280.00 Cr ) |
Issue type | Bookbuilding IPO |
Listing at | NSE, BSE |
Share Holding Pre Issue | 2,02,46,177 shares |
Share Holding Post Issue | 2,21,56,289 shares |
Lot Allocation Details
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 |
Allotment Schedule
Basis of Allotment | Fri, 26 Sep, 2025 |
Initiation of Refunds | Mon, 29 Sep, 2025 |
Credit of Shares to Demat | Mon, 29 Sep, 2025 |
Tentative Listing Date | Tue, 30 Sep, 2025 |
Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2025 |
IPO Reservation
Investor Category | Shares Offered |
QIB Shares Offered | Not more than 50% of the Offer |
Retail Shares Offered | Not less than 35% of the Offer |
NII Shares Offered | Not less than 15% of the Offer |
To check allotment, click here