• Technology

    Jaro Institute IPO First Day – Check Subscription Status, GMP And Other Details

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    By Ananya Chaudhuri

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    Jaro Institute IPO First Day - Check Subscription Status, GMP And Other Details

    Jaro Institute of Technology Management And Research IPO was subscribed 0.38 times on the first day so far. The Jaro Institute IPO is a book build issue of Rs 450 crore. It comprises a fresh issue of 19 lakh shares amounting to Rs 170 crore and an offer-for-sale (OFS) of 31 lakh shares worth Rs 280 crores.Qualified Institutional Buyers (QIBs) will be offered a maximum of 50% of the offer size. Retail investors will be allocated a minimum of 35% of the offer and at least 15% will be reserved for Non-Institutional Investors. Nuvama Wealth Management Ltd. is the book-running lead manager and Bigshare Services Ltd. is the registrar of the issue..Jaro Institute IPO — Price Band, Issue Details, Financials, Risks And More: Read Anand Rathi’s Report.The company will use proceeds from the IPO for marketing, clearing debt and for general corporate purposes..Jaro Institute IPO — Price Band, Issue Details, Financials, Risks And More: Read Anand Rathi’s Report.Open date: Sept. 23Close date: Sept. 25Face Value: Rs 10Issue Price: Rs 840-890Lot Size: 16Tentative Allotment date: Sept. 26Tentative Listing date: Sept. 30IPO size: Rs 143 croreMinimum bid: Lot size of 235 shares.The Jaro Institute of Technology Management and Institute’s grey market premium was at Rs 130 as of 11:36 a.m., as per data on Investorsgain website. The listing price will likely be Rs 1,020 apiece, which implies listing gain of 14.61%. .The IPO was subscribed 0.38 times as of 12:15 p.m., as per BSE data.Qualified Institutional Buyers: NilNon-Institutional Buyers: 1.16 times.Retail Investors: 0.26 times.Employee Reserved: 0.38 times. .Jaro Institute of Technology Management & Research Ltd. is an edtech company that offers higher education solutions. It was founded in 2009.FinancialsThe company reported a 36.1% year-on-year (YoY) increase in profit after tax (PAT) to Rs 51.67 crore in FY25 from Rs 37.97 crore in FY24. Total income rose 25.4% YoY to Rs 254.02 crore in FY25 from Rs 202.57 crore in FY24..Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read red herring prospectus thoroughly before placing bids.

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