India’s ed-tech industry has reached a turning point. With a present valuation of ₹64,875 crore, projections indicate it may scale to ₹2,50,850 crore by 2030. Rising acceptance of online degrees and professional training has opened opportunities for entities delivering credible and accessible programmes.
Jaro Institute of Technology Management and Research Limited, also known as Jaro Education, operates in this very space and is preparing for its public issue.
The Jaro Institute IPO is led by Systematix Corporate Services Limited, Motilal Oswal Investment Advisors Limited and Nuvama Wealth Management Limited. Bigshare Services Private Limited acts as the RTA (registrar) for the issue.
This IPO comes at a time when investors are closely watching ed-tech businesses. The following sections will take you through the price band, Jaro Institute grey market premium, allotment timeline and an overall review.
Jaro Institute IPO Details
Here are the Jaro Institute IPO lot size details along with the key information you should know before considering a subscription.
| Particular | Description |
| IPO Open Date | September 23 2025 |
| Close Date | September 25 2025 |
| Face value (₹) | 10 |
| Price Band (₹) | 846- 890 |
| Issue price | To Be Announced |
| IPO Lot Size (shares) | 16 |
| Sale type | Fresh issue + Offer for Sale |
| Offer for sale (₹ Crore) | 280 (0.19 crore shares) |
| Fresh issue (₹ Crore) | 170 (0.31 crore shares) |
| Issue Type | Book-built, Mainboard |
| Listing at | BSE & NSE |
| Total Issue Size (₹ Crore) | 450 (0.50 crore shares) |
| Reserved for Market Maker | – |
| Net Offered to Public | 0.17 crore shares |
| Minimum Investment | – |
| Retail Discount | – |
Jaro Institute IPO Timeline
The following is the timeline of Jaro Institute IPO details in India.
| Event | Date |
| IPO Open Date | September 23 2025 |
| IPO Close Date | September 25 2025 |
| Tentative Allotment | September 26 2025 |
| Initiation of Refunds | September 29 2025 |
| Credit of Shares to Demat | September 29 2025 |
| Tentative Listing Date | September 30 2025 |
| Cut-off time for UPI mandate confirmation | September 25 2025 (5 PM) |
Jaro Institute IPO Grey Market Premium (GMP Today)
Jaro Institute IPO GMP acts as a pulse check before an issue is listed. Check out the details of Jaro Institute IPO GMP Today.
| Date | GMP (₹) | Estimated Listing Price (₹) |
| September 24 2025 | 115 | 1005 |
| September 23 2025 | 123 | 1013 |
| September 22 2025 | 122 | 1012 |
| September 21 2025 | 109 | 999 |
| September 20 2025 | 105 | 995 |
| September 19 2025 | 104 | 994 |
| September 18 2025 | 100 | 990 |
Jaro Institute IPO Reservation
As a Jaro Institute Mainboard IPO, the allocation across investor categories follows SEBI norms. Below is the reservation break-up:
| Investor | Shares | % Share |
| QIB Shares Offered | 10,11,236 | 20 |
| NII (HNI) Shares Offered | 7,58,427 | 15 |
| Retail Shares Offered | 17,69,663 | 35 |
| Total Shares Offered | 50,56,180 | 100 |
Jaro Institute Key Performance Indicator
The Jaro Institute IPO review calls for a careful look at its key performance indicators. The following are some of the important KPIs:
| Particulars | 2023 | 2024 | 2025* |
| ROE (%) | 15.05 | 37.82 | 35.76 |
| ROCE (%) | 19.12 | 40.90 | 37.38 |
| Debt Equity | 0.45 | 0.21 | 0.30 |
| RoNW (%) | 14.87 | 32.35 | 30.12 |
| PAT Margin (%) | 9.35 | 18.75 | 20.34 |
| EBITDA margin | 20.92 | 31.93 | 33.13 |
| Price Book Value | – | – | – |
*The consolidated sheet reflects the standalone values, as the Company has no subsidiaries as on 31 March 2025
Jaro Institute IPO Financials
Next in the Jaro Institute IPO analysis, let’s look at its financial performance:
| (₹ Million) | 2023 | 2024 | 2025* |
| Revenue | 1,245.85 | 2,025.67 | 2,540.19 |
| Total Asset | 1,757.51 | 2017.57 | 2767.04 |
| Profit | 116.54 | 379.72 | 516.66 |
*The consolidated sheet reflects the standalone values, as the Company has no subsidiaries as on 31 March 2025
Jaro Institute IPO Lot Size
The Jaro Institute IPO lot size defines the minimum number of shares you can apply for in this issue. Below are the details presented in the table:
| Category | Lots | Shares | Amount (₹) | |
| Retail | Minimum | 1 | 16 | 14,240 |
| Maximum | 14 | 224 | 1,99,360 | |
| Small-HNI | Minimum | 15 | 240 | 2,13,600 |
| Maximum | 70 | 1,120 | 9,96,800 | |
| Big-HNI – Minimum | 71 | 1,136 | 10,11,040 | |
Jaro Institute IPO Promoter Holding
Here’s how the promoter holding looks for Jaro Education based on the IPO files:
| Promoter Holding | Shares | Percentage |
| Pre-Issue | 2,02,46,177 | 78.28% |
| Post-Issue | 2,21,56,289 | 57.32% |
Jaro Institute IPO Anchor Investors Details
Here are the anchor investor details for Jaro Institute of Technology IPO:
| Particular | Description |
| Bid Date | September 22 2025 |
| Shares Offered | 15,16,854 (₹890 per share) |
| Anchor Portion Size (₹ Cr.) | ₹135 crore |
| Anchor lock-in end date (50%- 30 days) | October 22 2025 |
| Anchor lock-in end date (remaining 50%- 90 days) | December 21 2025 |
Jaro Institute IPO Subscription Status
Let’s check Jaro Institute IPO subscription status now.
| Day | Total Subscription | RII | NII | QIB |
| Day 1 | 0.92 | 0.73 | 1.91 | 0.49 |
| Day 2 | 2.05 | 2.12 | 3.67 | 0.71 |
| Day 3 |
Jaro Institute IPO Prospectus
About Jaro Institute
Jaro Institute of Technology Management and Research has positioned itself as a bridge between premier universities and working professionals. Since its establishment in 2009, it has worked on bridging access to higher education by connecting universities with working cohorts through online and hybrid channels. Its activities extend across postgraduate degrees, professional certifications, and domain-focused modules in management, technology, and analytics.
The entity collaborates with a consortium of more than thirty academic bodies, including several IIMs, IITs, and global universities. Such alliances allow it to curate offerings that appeal to diverse career stages, from entry-level graduates to senior executives.
| Particular | Description |
| Founded in | 2009 |
| Managing Director | Dr Sanjay Namdeo Salunkhe |
| Parent Organisation | Standalone company as of 31 March 2025 |
| Services they Provide | Marketing and facilitation of online degree programmes, executive education, hybrid learning solutions, certification courses, and end-to-end support for partner institutions |
Objectives of Jaro Institute
| Particular | Amount (₹ crore) |
| Marketing, brand building, advertising | 81 |
| Repayment / prepayment of borrowings | 45 |
| General corporate purposes | – |
Strength of Jaro Institute
- Diversified offerings: Partnerships with leading institutions in India (IIT & IIM) and abroad that allow it to deliver 250+ programmes across management, technology, and specialised domains
- Established network: A learner base of more than 3.5 lakh professionals and an expanding alumni community that supports brand recognition.
- Sustained performance: Consistent profitability since inception signals an operational model that balances scale with efficiency.
- Technology-driven delivery: Proprietary learning suites and AI-enabled systems provide a seamless digital environment, enabling enrolment and interaction without barriers.
Risk of Jaro Institute
- Dependence on alliances: Much of the topline rests on collaborators like IITs and IIMs. Should these bodies alter revenue-sharing terms or pursue direct enrolments, Jaro’s share of income may contract.
- Customer and regional concentration: More than half of revenue is generated from a few clients, and most of its operations are concentrated in the western region of India.
- Market competition: The edtech space is marked by intense rivalry, with pressure on price and constant need for differentiation. Sustaining margins requires ongoing investment in tech and digital systems.
- Cash flow and compliance: The company has reported negative operating cash flows in recent years, and it also carries the responsibility of protecting intellectual property of partner content, a potential liability if not handled properly.
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FAQs
The public issue by Jaro Institute combines a fresh issue of ₹170 crore with an offer for sale of ₹280 crore, making it a ₹450 crore IPO.
You can apply via Zerodha by logging into Kite, go to Bids → IPO, selecting the Jaro IPO, entering your UPI and bid quantity, then accepting the mandate in your UPI app. Or, use the ASBA via net-banking route by blocking funds in your bank account and specifying your Zerodha demat ID and DP name.
Jaro Institute IPO opens on September 23 2025.
The lot size for Jaro Institute IPO is 16 shares per application.
You can apply using your broker’s platform that supports UPI-based bidding. Choose the issue from the IPO section, enter the bid quantity and UPI ID, then approve the mandate in your UPI app. Banks also provide the ASBA route through net banking where you block funds and submit your demat details.
The allotment for Jaro Institute IPO is expected on September 26 2025.
Jaro Institute of Technology Management and Research Limited, is slated to list on September 30 2025.
