Jaro Institute of Technology Management & Research Limited IPO

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 Ended31 Mar 202531 Mar 202431 Mar 2023
Assets276.7201.76175.75
Total Income254.02202.57124.59
Profit After Tax51.6737.9711.65
EBITDA83.5863.5625.55
Net Worth171.55117.4377.85
Reserves and Surplus151.31102.3962.8
Total Borrowing51.1124.8537.77
                                                                                                                                                                                                  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 DateSeptember 23, 2025, to September 25, 2025
Listing DateSeptember 30, 2025
Face Value₹10 per share
Price Band₹846 to ₹890 per share
Lot size16 shares
Total Issue size50,56,179 shares (aggregating upto ₹450.00 Cr )
Fresh Issue19,10,112 shares (aggregating upto ₹170.00 Cr )
Offer for Sale31,46,067 shares of ₹10 (aggregating upto ₹280.00 Cr )
Issue typeBookbuilding IPO
Listing atNSE, BSE
Share Holding Pre Issue2,02,46,177 shares
Share Holding Post Issue2,21,56,289 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 AllotmentFri, 26 Sep, 2025
Initiation of RefundsMon, 29 Sep, 2025
Credit of Shares to DematMon, 29 Sep, 2025
Tentative Listing DateTue, 30 Sep, 2025
Cut-off time for UPI mandate confirmation5 PM on September 25, 2025

IPO Reservation

Investor CategoryShares Offered
QIB Shares OfferedNot more than 50% of the Offer
Retail Shares OfferedNot less than 35% of the Offer
NII Shares OfferedNot less than 15% of the Offer

To check allotment, click here

Download NOVO App!

Invest in Zero-commission Direct Mutual funds, IPO, Sovereign Gold bonds, Government bills, and Corporate bonds.