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IPO

Edtech co. Jaro Education’s Rs.450-Cr IPO oversubscribed 22x

Moneycontrol  

The initial share sale of Mumbai-based higher education platform Jaro Institute of Technology Management and Research Ltd (Jaro Education) was subscribed 22 times. The IPO received bids for 1.17 crore shares against 37.23 lakh shares on offer. The price per share was set between INR 846 and INR 890.The portion reserved for the Qualified Institutional Buyers (QIBs) got subscribed by 35.35 times, while the Non-Institutional Investors’ portion got 35.47 times subscription. The Retail Individual Investors (RIIs) quota got subscribed 8.68 times.The IPO comprises a fresh issue of shares worth INR 170 crore and an offer for sale (OFS) of INR 280 crore by promoter Sanjay Namdeo Salunkhe.Jaro Institute raised INR 135 crore from anchor investors ahead of its listing.Founded in 2009 by Sanjay Salunkhe, Jaro offers degree programmes and certification programmes in collaboration with partner institutions.Of the fresh issuance, the company will use INR 81 crore for marketing, brand building and advertising activities and INR 45 crore for repayment of debt.

Earlier in Sep-25, Jaro had raised INR 115 crore in a pre-IPO round from Alfa Fund, Singularity Growth Opportunities Fund and Singularity Equity Fund, Subhkam Ventures, the family office of Polycab, Utpal Sheth , the family office of Supreme Industries, and Deven Choksey.