Jaro Institute made its market debut on Tuesday, listing at ₹890 per share on the NSE, exactly at the upper end of its price band, marking a par listing for investors.
The company had raised ₹450 crore through its IPO, comprising a ₹170 crore fresh issue and a ₹280 crore Offer for Sale (OFS). The IPO was offered in a price band of ₹846–₹890 per share.
According to NSE data, the three-day IPO was subscribed 22 times overall, led by strong demand from institutional and non-institutional investors. The QIB category was subscribed 35 times, while retail investors also showed significant interest, with their portion subscribed 8.7 times.
Founded in 2009, Jaro Institute is an edtech company specializing in higher education and executive upskilling programs. It collaborates with leading Indian institutions, including the IITs and IIMs, to deliver its programs.
As per the company, proceeds from the fresh issue will be utilized for multiple purposes — around ₹81 crore for marketing, brand building, and advertising, ₹45 crore for repayment or prepayment of borrowings, and the balance for general corporate purposes.
