The initial public offering (IPO) of Jaro Institute, which opened on Tuesday, September 23, was subscribed 0.87 times on the first day.The IPO was fully subscribed on Wednesday. The mainboard issue was booked 1.36 times as of 1:03 p.m. on September 24.The unlisted shares have been trading at a premium in the grey market (GMP), indicating positive listing gains for investors.Amid the ongoing subscription, the GMP as well as the Day 2 subscription status of Jaro Institute of Technology Management and Research Limited are in focus today. Here’s a look at what the latest trends indicate for the IPO..The GMP for the Jaro Institute of Technology Management and Research IPO stood at Rs 120 per share as of 12:01 p.m. on September 25. The latest GMP indicates a listing price of Rs 1,010 apiece, at a premium of 13.48% compared to the upper limit of the issue price.Note: GMP does not represent official data and is based on speculation..Ganesh Consumer IPO GMP In Focus Today — Check Latest Grey Market Trends On Final Day Of Subscription.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 crore.The price band for the IPO is set between Rs 846 and Rs 890 per share.The IPO subscription stood at 87% on the first day. QIB’s subscribing 0.47 times, NII’s subscribing 1.82 times and Retail Investors subscribing 0.70 times.Investors can bid for shares in the IPO from September 23-25. The allotment of shares is proposed to be done on September 26. Shares of Jaro Institute are expected to be listed on the BSE and NSE on September 30.Jaro Institute is an edtech company that offers higher education solutions. It was founded in 2009..Saatvik Green Energy GMP And IPO Allotment In Focus Today: Check Status, Listing Date.Disclaimer: Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
