Jaro Institute IPO opens today: Analysts bet on long term prospects; apply?

Jaro Institute IPO opens today: Check price band, lot size, GMP, review, allotment date, listing date, and other key details here

Jaro Institute IPO opens for public subscription: Online higher education and upskilling platform operator Jaro Institute of Technology Management & Research has launched its initial public offering (IPO) today, September 23, 2025. From the public issue, the company seeks to raise ₹450 crore, which comprises a fresh issue of 1.9 million equity shares worth ₹170 crore, and an offer for sale (OFS) with promoter Sanjay Namdeo Salunkhe divesting up to 3.1 million equity shares worth ₹280 crore.

 

Jaro Institute has announced that it has already raised ₹135 crore from the anchor investors in the bidding concluded on September 22. The anchor book saw participation from investors, including Citigroup Global Markets Mauritius, Nomura Singapore, Societe Generale, 360 ONE Fund, WhiteOak Capital Mutual Fund (MF), and ITI MF.

 

 

The brokerages remain optimistic about the public offering of Jaro Institute for the long-term investment outlook, citing the company’s expansion and improving financial performance.  Check iValue Infosolutions IPO Allotment Status

Here are the key details of Jaro Institute IPO:

Jaro Institute IPO price band, lot size

Jaro Institute IPO is being offered at a price band of ₹846–890 per share, and a lot size of 16 shares. Thus, investors can bid for a minimum of 16 shares and in multiples thereof.

 

A retail investor would require ₹14,240 to bid for one lot or 16 shares of Jaro Institute IPO. A retail investor can, however, bid for a maximum of 13 lots or 208 shares of Jaro Institute IPO with an investment of ₹1,99,360.

Jaro Institute IPO GMP

The unlisted shares of Jaro Institute were commanding a decent premium in the grey markets ahead of the opening of their public issue on Tuesday. Sources tracking unofficial market activity revealed that Jaro Institute shares were trading at ₹1,012 apiece, reflecting a grey market premium (GMP) of ₹122 or 13.71 per cent over the upper price band of ₹890.

 

Jaro Institute IPO allotment date, listing date

The three-day subscription window to bid for the Jaro Institute IPO is likely to close on Thursday, September 25, 2025. Following that, the basis of allotment of Jaro Institute IPO shares is expected to be finalised on Friday, September 26, 2025, and shares will be credited to successful allottees’ demat accounts on Monday, September 29, 2025.

 

Shares of Jaro Institute are set to make their D-Street debut tentatively on Tuesday, September 30, 2025.

Jaro Institute IPO registrar, lead manager

Bigshare Services serves as the registrar for the Jaro Institute IPO, while Nuvama Wealth Management, Systematix Corporate Services, and Motilal Oswal Investment Advisors are the book-running lead managers for the issue.

Jaro Institute IPO objectives

The company will not receive any proceeds from the offer for sale. “The proceeds from the Offer for Sale shall be received by the promoter selling shareholder,” the company said in its Red Herring Prospectus (RHP).

 

The company, however, proposes to utilise the proceeds from the fresh issue for marketing, brand building, and advertising activities, as well as for the prepayment or scheduled repayment of a portion of certain outstanding borrowings availed.

 

Jaro Institute will also deploy the remaining proceeds for general corporate purposes.

Should you subscribe to Jaro Institute IPO?

SBI Securities – Subscribe long term

Analysts at SBI Securities have recommended investors to subscribe to the issue at the cut-off price for the long term. The analysts pointed out that at the upper price band of ₹890, the issue is valued at a P/E multiple of 38.2x on post-issue capital.

 

"Jaro Institute is among the leaders in online education, offering a total of 268 degree and certificate courses. The company has delivered strong Revenue/Ebitda/Adj. PAT CAGR of 44 per cent/88 per cent/113 per cent to ₹252 cr/ ₹82 cr/₹52 cr respectively between the FY23–FY25 period, showcasing its financial strength. Further, Jaro Institute is expected to capitalise on the projected 1.9x jump in the Indian online education and upskilling market by FY28. We recommend investors to Subscribe to the issue at the cut-off price for the long term," wrote the analysts in a research note.

BP Equities – Subscribe for long term

Those at BP Equities have recommended investors to subscribe to the issue with a medium to long-term investment horizon.

 

"Given the company’s expanding margins, industry growth potential, and scalable business model, we believe that the valuation is justified. Thus, we recommend a 'Subscribe' rating for this issue with a medium to long-term investment horizon," analysts said in a research note.

About Jaro Institute of Technology Management and Research

Jaro Institute of Technology Management and Research, established in 2009 by Sanjay Namdeo Salunkhe, is one of India’s leading online higher education and upskilling platform companies. Despite being entirely bootstrapped, the institute has achieved strong Ebitda on the back of 15 years of in-depth understanding of the online higher education and upskilling sector. With a pan-India presence of over 22 offices-cum-learning centres across major cities for offline learning, along with 15 immersive tech studio set-ups on the campuses of various IIMs, Jaro caters to a total of 34 partner institutions as of March 31, 2024.