Jaro Institute IPO: Check key dates, price band, issue size, biz details & more

Jaro Institute of Technology Management and Research will launch its initial public offering (IPO) worth Rs 450 crore, opening for subscription on Tuesday, 23 September, and closing on Thursday, 25 September. The price band is set at Rs 846 to Rs 890 per share, with a minimum lot size of 16 shares.

Of the total issue, 50% is reserved for qualified institutional buyers (QIB), 15% for non-institutional investors (NII), and 35% for retail investors. The lead managers are Nuvama Wealth Management, Systematix Corporate Services, and Motilal Oswal Investment Advisors, with Bigshare Service as registrar. The allotment will be finalised on 26 September.

The IPO consists of a fresh equity issuance of Rs 170 crore and an offer for sale (OFS) of up to Rs 280 crore by promoter Sanjay Namdeo Salunkhe. Investors must make a minimum investment of one lot (16 shares). Funds raised will be used for prepayment or repayment of borrowings, marketing, brand promotion, advertising, and general corporate purposes.

Jaro Institute is an online higher education and upskilling platform offering a portfolio of degree and certification programmes in collaboration with partner institutions. Courses include Doctor of Business Administration (DBA), Master of Business Administration (MBA), and certifications in fintech, data science, and digital marketing. Programmes are available online, hybrid, and in-person, catering to a broad spectrum of learners.

The suite extends to postgraduate diplomas, masters degrees (M.A., M.Com., MCA), and undergraduate degrees (BCA, B.Com.), serving students and professionals seeking flexible learning in business, management, and technology sectors.

Nuvama Wealth Management and Systematix Corporate Services are the book running lead manager and Bigshare Services is the registrar of the issue.