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Jaro Institute of Technology Management & Research IPO(Jaro Institute IPO)
Jaro Institute of Technology Management and Research Limited, or Jaro Institute, will be conducting a Mainboard IPO from September 23 to September 25, 2025. The Jaro Institute IPO will comprise 50,56,179 shares to be offered to the market under a process of book-building. The issue will consist of approximately 19,10,112 fresh shares and approximately 31,46,067 offer for sale shares by the promoter, Sanjay Namdeo Salunkhe. Retail investors can apply for a minimum of 16 shares, which is nearly ₹14,240 at the upper price band. The allocation is as per the SEBI norms for the IPO, 35% is allocated to retail investors, 50% to qualified institutional buyers and 15% to non-institutional investors.
Company Background
Jaro Institute, which was established in 2009 by Dr Sanjay Salunkhe, is India's largest online executive education company that focuses on higher education and professionally certified courses. Jaro is the pioneer of online executive education in India and has recorded profitability since its inception. Jaro has more than 23 learning centres situated in various locations, including India, Singapore and the USA and has connections with over 36 partner institutions, including reputed universities such as IIM Ahmedabad, IIT Madras and other global leaders like MIT and Wharton. Jaro's objective is to educate working professionals and entrepreneurs in industry-relevant higher education, programmed in management, technology and techno-functional.
Operations & Product Range
Facility & Production
Jaro Institute provides education largely through online systems alongside in-person learning centres and tech studios, which are available in major Indian cities and some other countries. It has more than 268 courses offered through different subject fields, including certification, diplomas, degrees and short-form programs, through partnerships with well-known institutions. The processes use digital content creation, technology-based delivery and curriculum updates in response to market demand and technology advancements.
Brands & Market Presence
“Jaro Education” is the formal operating name of the Jaro Institute IPO’s company, which has a strong and recognised brand for quality online executive programs in India and internationally. The Jaro Institute has established formal partnerships with top institutes and universities, which provide credibility to increase reach. The brand offers industry-matched education that provides a measurable impact on learner careers and is used by over 3 lakh learners and corporate clients to support.
Revenue Channels
- ● Primary revenue is generated through tuition fees for all online education and certification programs.
- ● Corporate partnerships create revenue through customised executive training and employee reskilling programs.
- ● Licensing and joint course development with universities and institutes generates income as well.
- ● The remaining revenue comes from workshops, seminars and technology-based learning.
Management & Shareholding
Promoters & Shareholding
Dr Sanjay Salunkhe is the founder and promoter and owns a majority stake, while a professional management team takes care of day-to-day operations. The Jaro Institute IPO comprises a fresh issue to raise ₹170 crore and an offer for sale (OFS) from the promoter to monetise shares worth ₹280 crore. After the IPO, promoters will continue to hold enough shares to maintain substantial control.
Board Members
The board of Jaro Institute IPO comprises industry veterans and independent directors who have deep experience in education, technology and finance. The board provides appropriate strategic oversight and governance. The IPO is being handled by leading financial institutions, including Nuvama Wealth Management, Motilal Oswal and Systematix Corporate Services.
WHAT IS GMP?
GMP (Grey Market Premium) is the difference between the IPO price and the grey market price. It is the premium amount paid for the traded IPO shares. It plays an important role in IPOs as it reflects how the IPO would react on the listing day.
A grey market is a place where shares/stocks are traded before being listed officially on the stock exchange.
Jaro Institute of Technology Management & Research IPO(Jaro Institute IPO)
| GMP Date | IPO Price | GMP | Last Updated |
|---|---|---|---|
| - | - | - | - |
**The GMP prices displayed here are solely for informational purposes related to the grey market news. India IPO does not engage in or facilitate grey market trading, nor are these rates (sub2) indicative of any trading activity. We also do not recommend or endorse participation in the grey market.**
Jaro Institute of Technology Management & Research IPO(Jaro Institute IPO) Details
| Detail | Description |
|---|---|
| IPO Date | September 23, 2025 to September 25, 2025 |
| Listing Date | [.] |
| Face Value | ₹10 per share |
| Issue Price Band | ₹846 to ₹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 |
Jaro Institute of Technology Management & Research IPO(Jaro Institute IPO) Timeline
| Detail | Description |
|---|---|
| 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 |
Jaro Institute of Technology Management & Research IPO(Jaro Institute 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 |
Jaro Institute of Technology Management & Research IPO(Jaro Institute IPO) Promoter Holding
| Share Holding Pre Issue | Share Holding Post Issue |
|---|---|
| Promoter Holding Pre Issue | 78.28% |
| Promoter Holding Post Issue | 57.32% |
Competitive Strength:
- ● Pioneer in online executive education in India with over 15 years of experience and proven profitability.
- ● Strong alumni network exceeding 3 lakh professionals across multiple sectors and geographies.
- ● Strategic partnerships with leading Indian and global institutions to deliver strong and recognised courses.
- ● Experienced leadership committed to innovation while ensuring the quality of education in the online delivery mode.
- ● A scalable business model which combines online technology and localised support in person.
Jaro Institute of Technology Management & Research IPO(Jaro Institute IPO) Financial Information
| Period Ended | Assets | Revenue | Profit After Tax | Net Worth | Total Borrowing | |||||||||||||||||||||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| 31 Mar 2025 | 276.7 | 254.02 | 51.67 | 171.55 | 51.11 | |||||||||||||||||||||||||||||||||||
| Amount in ₹ Crore | ||||||||||||||||||||||||||||||||||||||||
Key Performance Indicator
| KPI | Values |
|---|---|
| ROE | 35.76% |
| ROCE | 37.38% |
| Debt/Equity | 0.3 |
| RoNW | 30.12% |
| PAT Margin | 20.34% |
| EBITDA Margin | 33.13% |
| Price to Book Value | 10.5 |
| Pre IPO | Post IPO | |
|---|---|---|
| EPS (Rs) | 25.52 | 23 |
| P/E (x) | 34.88 | 38 |
Objectives of Jaro Institute IPO
- ● Use of proceeds primarily for marketing, branding and advertising to improve penetration into the market.
- ● Repay borrowings and reduce interest costs, which will improve the balance sheet.
- ● Fund working capital and other general corporate purposes to further leverage the business.
Conclusion
The Jaro Institute IPO provides a rare opportunity to invest in a profitable and established leader in the Indian online executive education sector. With strong institutional partnerships, a large and growing learner base and offerings driven by technology, Jaro is well-positioned to capitalise on increasing demand for flexibility and quality in education. The IPO reflects strong opportunities for capital to back one of the pioneers in the space while offering an exit for the promoter in a balanced way that reflects both the growth potential of the business and the solidity of this market leader.
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Frequently asked Questions (FAQs )
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When does the Jaro Institute IPO open and close?
The IPO opens on September 23 and closes on September 25, 2025.
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What is the price band and lot size?
The price band is ₹846 to ₹890 per share and the minimum lot size is 16 shares.
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What is the issue size?
The Jaro Institute IPO size is ₹450 crore, including ₹170 crore fresh issue and ₹280 crore offer for sale.
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Where will the shares be listed?
Shares are expected to be listed on BSE and NSE on or around September 30, 2025.
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What products does the company offer?
Online executive education programs in partnership with top Indian and global universities.
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How will the Jaro Institute IPO proceeds be used?
For marketing, debt repayment, working capital and corporate purposes.
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