Jaro Education IPO Subscribed 1.95 Times on Day 2

New Delhi, Sep 24 (PTI) The initial public offer of Jaro Institute of Technology Management and Research Ltd (Jaro Education) garnered 1.95 times subscription on the second day of bidding on Wednesday.

The Rs 450-crore IPO received bids for 72,54,336 shares against 37,23,404 shares on offer, as per NSE data.

Non-Institutional Investors component got subscribed 3.49 times while the portion for Retail Individual Investors received 2.01 times subscription. Qualified Institutional Buyers (QIBs) category got booked 68 per cent.

Jaro Institute of Technology Management and Research on Monday said it mopped up Rs 135 crore from anchor investors.

The issue, with a price band of Rs 846 to Rs 890 per share, will conclude on Thursday.

The company's IPO has a fresh issue of shares worth Rs 170 crore and an Offer for Sale (OFS) of shares valued at Rs 280 crore by promoter Sanjay Namdeo Salunkhe.

Of the fresh issuance, Rs 81 crore has been earmarked for marketing, brand building and advertising activities, Rs 45 crore for payment of debt and the rest for general corporate purposes.

Founded in 2009 by Salunkhe, Jaro Education offers degree programmes and certification programmes in collaboration with its partner institutions.

As of March 2025, it has 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, and caters to a total of 36 partner institutions such as IITs, IIMs and premier global institutions like Swiss School of Management and Rotman School of Management, University of Toronto. It offers 268 course offerings and programmes in diverse domains.

Nuvama Wealth Management, Motilal Oswal Investment Advisors, and Systematix Corporate Services are book running lead managers, while Bigshare Services is the registrar to the IPO.