Jaro Institute IPO
Live Updates, GMP, Subscription Data, and Financial Details
IPO Overview
Listed
Dates
Sep 23 to Sep 25 2025
Price Band
₹846 - 890
Current GMP
₹890(0.00%)
Subscription
23.20 times
IPO Details
| 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 |
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
IPO Subscription Details
| Anchor Investors | 1 |
| QIB (Ex Anchor) | 37.19 |
| Non-Institutional Buyers | 37.32 |
| bNII (bids above ₹10L) | 35.59 |
| sNII (bids below ₹10L) | 40.77 |
| Retail Investors | 9.15 |
| Total ** | 23.20 |
Anchor Investors
1
QIB (Ex Anchor)
37.19
Non-Institutional Buyers
37.32
bNII (bids above ₹10L)
35.59
sNII (bids below ₹10L)
40.77
Retail Investors
9.15
Total **
23.20
Day Wise Sub
| Day | QIB (Ex Anchor) | NII | NII (> ₹10L) | NII (< ₹10L) | Retail | Total |
|---|---|---|---|---|---|---|
| Day 1 Sep 23, 2025 | 0.49 | 1.91 | 2.37 | 1.00 | 0.73 | 0.92 |
| Day 2 Sep 24, 2025 | 0.71 | 3.67 | 3.51 | 3.99 | 2.12 | 2.05 |
| Day 3 Sep 25, 2025 | 37.19 | 37.32 | 35.59 | 40.77 | 9.15 | 23.20 |
DayDay 1
Sep 23, 2025
QIB (Ex Anchor)0.49
NII1.91
NII (> ₹10L)2.37
NII (< ₹10L)1.00
Retail0.73
Total0.92
DayDay 2
Sep 24, 2025
QIB (Ex Anchor)0.71
NII3.67
NII (> ₹10L)3.51
NII (< ₹10L)3.99
Retail2.12
Total2.05
DayDay 3
Sep 25, 2025
QIB (Ex Anchor)37.19
NII37.32
NII (> ₹10L)35.59
NII (< ₹10L)40.77
Retail9.15
Total23.20
Day Wise GMP
| Date | Price | GMP | Estimate List Price |
|---|---|---|---|
| 30-09-2025 | 890.00 | 43(4.83%) | 933 |
| 29-09-2025 | 890.00 | 43(4.83%) | 933 |
| 28-09-2025 | 890.00 | 45(5.06%) | 935 |
| 27-09-2025 | 890.00 | 52(5.84%) | 942 |
| 26-09-2025 | 890.00 | 48(5.39%) | 938 |
| 25-09-2025 | 890.00 | 73(8.20%) | 963 |
| 24-09-2025 | 890.00 | 106(11.91%) | 996 |
| 23-09-2025 | 890.00 | 123(13.82%) | 1013 |
| 22-09-2025 | 890.00 | 122(13.71%) | 1012 |
| 21-09-2025 | 890.00 | 109(12.25%) | 999 |
| 20-09-2025 | 890.00 | 105(11.80%) | 995 |
| 19-09-2025 | 890.00 | 104(11.69%) | 994 |
| 18-09-2025 | 890.00 | 100(11.24%) | 990 |
| 17-09-2025 | 0(0.00%) | (0.00%) | |
| 16-09-2025 | 0(0.00%) | (0.00%) | |
| 15-09-2025 | 0(%) | (%) |
Date30-09-2025
Price890.00
GMP43(4.83%)
Estimate List Price933
Date29-09-2025
Price890.00
GMP43(4.83%)
Estimate List Price933
Date28-09-2025
Price890.00
GMP45(5.06%)
Estimate List Price935
Date27-09-2025
Price890.00
GMP52(5.84%)
Estimate List Price942
Date26-09-2025
Price890.00
GMP48(5.39%)
Estimate List Price938
Date25-09-2025
Price890.00
GMP73(8.20%)
Estimate List Price963
Date24-09-2025
Price890.00
GMP106(11.91%)
Estimate List Price996
Date23-09-2025
Price890.00
GMP123(13.82%)
Estimate List Price1013
Date22-09-2025
Price890.00
GMP122(13.71%)
Estimate List Price1012
Date21-09-2025
Price890.00
GMP109(12.25%)
Estimate List Price999
Date20-09-2025
Price890.00
GMP105(11.80%)
Estimate List Price995
Date19-09-2025
Price890.00
GMP104(11.69%)
Estimate List Price994
Date18-09-2025
Price890.00
GMP100(11.24%)
Estimate List Price990
Date17-09-2025
Price
GMP0(0.00%)
Estimate List Price(0.00%)
Date16-09-2025
Price
GMP0(0.00%)
Estimate List Price(0.00%)
Date15-09-2025
Price
GMP0(%)
Estimate List Price(%)
IPO Important Dates
| 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 |
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
IPO Lot Size
| 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 |
ApplicationRetail (Min)
Lots1
Shares16
Amount₹14,240
ApplicationRetail (Max)
Lots14
Shares224
Amount₹1,99,360
ApplicationS-HNI (Min)
Lots15
Shares240
Amount₹2,13,600
ApplicationS-HNI (Max)
Lots70
Shares1,120
Amount₹9,96,800
ApplicationB-HNI (Min)
Lots71
Shares1,136
Amount₹10,11,040
Financial Information
| 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 |
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
IPO Reservation
| 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%) |
Investor CategoryQIB Shares Offered
Shares Offered25,28,089 (50.00%)
Maximum AllotteesNA
Investor Category− Anchor Investor Shares Offered
Shares Offered15,16,853 (30.00%)
Maximum AllotteesNA
Investor Category− QIB (Ex. Anchor) Shares Offered
Shares Offered10,11,236 (20.00%)
Maximum AllotteesNA
Investor CategoryNII (HNI) Shares Offered
Shares Offered7,58,427 (15.00%)
Maximum AllotteesNA
Investor Category− bNII > ₹10L
Shares Offered5,05,618 (10.00%)
Maximum Allottees2,106
Investor Category− sNII < ₹10L
Shares Offered2,52,809 (5.00%)
Maximum Allottees1,053
Investor CategoryRetail Shares Offered
Shares Offered17,69,663 (35.00%)
Maximum Allottees1,10,603
Investor CategoryTotal Shares Offered
Shares Offered50,56,179 (100.00%)
Maximum Allottees
Information about company
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
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 delivery of high quality and diversified offerings
Leveraging technology and digitalization
Experienced senior management team with deep industry expertise and proven track record
Objectives of IPO
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
Disclaimer
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