Jaro Institute makes a weak stock market debut; shares list on a flat note

Shares of Jaro Institute of Technology Management & Research made a weak Dalal Street debut on Tuesday, September 30, as the online higher education platform was listed at Rs 890 on both BSE and NSE, which is the issue price for the issue. However, the stock dropped 8 per cent after listing.

Listing of Jaro Institute of Technology Management & Research has been much below the expected lines. Ahead of its debut, Jaro Institute of Technology Management & Research was commanding a grey market premium (GMP) Rs 43-45 per share in the unofficial market, suggesting a listing pop of nearly 4-5 per cent for the investors.

The IPO of Jaro Institute of Technology Management & Research was open for bidding between September 23 and September 25, 2025. It had offered its shares in the price band of Rs 846-890 per share with a lot size of 16 shares. The company raised a total of Rs 450 crore from its IPO, which included a fresh share sale of Rs 170 crore and offer-for-sale (OFS) of up to Rs 280 crore.

The issue was overall subscribed 22.06 times, attracting over 9.75 applications and bids worth Rs 7,300 crore. The portion for qualified institutional bidders (QIBs) was booked 35.35 times, while the quota for non-institutional investors (NIIs) was subscribed 35.48 times. The allocation for retail investors was subscribed 8.71 times.

Incorporated in 2009, Mumbai-based Jaro Institute of Technology Management and Research (Jaro Education) is an online higher education and upskilling platform. It has a pan-India presence with over 22 offices-cum-learning centres across major cities for offline learning, along with 17 immersive tech studio set-ups located within various IIM campuses.

Brokerage firms were the largest positive on the issue, suggesting subscribed to it for long-term. Nuvama Wealth Management, Motilal Oswal Investment Advisors and Systematix Corporate Services served as the book running lead managers of Jaro Institute IPO and Bigshare Services was the registrar of the issue.