Here are the full details of the Jaro Institute of Technology Management & Research Limited IPO (also known as Jaro Education) — latest public information from filings and media reports. If you want, I can also give a “pros vs cons” view or valuation comparison.
Jaro Institute IPO is a book build issue of ₹450.00 crores. The issue is a combination of fresh issue of 0.19 crore shares aggregating to ₹170.00 crores and offer for sale of 0.31 crore shares aggregating to ₹280.00 crores.
Jaro Institute IPO opens for subscription on Sep 23, 2025 and closes on Sep 25, 2025. The allotment for the Jaro Institute IPO is expected to be finalized on Sep 26, 2025. Jaro Institute IPO will list on BSE, NSE with a tentative listing date fixed as Sep 30, 2025.
Jaro Institute IPO price band is set at ₹846.00 to ₹890.00 per share . The lot size for an application is 16. The minimum amount of investment required by an retail is ₹14,240 (16 shares) (based on upper price).
The lot size investment for sNII is 15 lots (240 shares), amounting to ₹2,13,600, and for bNII, it is 71 lots (1,136 shares), amounting to ₹10,11,040.
IPO Dates
- Opening Date: 23 September 2025
- Closing Date: 25 September 2025
- Allotment Date: 26 September 2025
- Initiation of Refunds: 29 September 2025
- Credit of Shares to Demat: 29 September 2025
- Listing Date: 30 September 2025
IPO Details
- Face Value: ₹10 per share
- Price Band: ₹846 to ₹890 per share
- Lot Size: 16 Shares
- Sale Type: Fresh Capital-cum-Offer for Sale
- Total Issue Size: 50,56,179 shares
- Fresh Issue: 19,10,112 shares
- Offer for Sale: 31,46,067 shares
- Issue Type: Bookbuilding IPO
- Listing At: BSE, NSE
- Share Holding Pre Issue: 2,02,46,177 shares
- Share Holding Post Issue: 2,21,56,289 shares
GMP of Jaro Institute of Technology Management & Research Limited IPO
The latest Grey Market Premium (GMP) for Jaro Institute of Technology Management & Research Limited IPO is ₹102.
Jaro Institute IPO last GMP is ₹102, last updated Sep 19th 2025 09:28 AM. With the price band of 890.00, Jaro Institute IPO’s estimated listing price is ₹990 (cap price + today’s GMP).The expected percentage gain/loss per share is 11.24%.
Promoters of Jaro Institute of Technology Management & Research Limited
The promoters of Jaro Institute of Technology Management & Research Limited (Jaro Education) are:
- Sanjay Namdeo Salunkhe
Dr. Sanjay Namdeo Salunkhe
- He is the Founder, and currently the Chairman & Managing Director of Jaro Education.
- Education: He holds a Doctorate degree in Change Management and its Impact on Achieving Business Results. He also has an MBA and an LLB from the University of Mumbai.
- Board Position / DIN: His Director Identification Number is 01900632.
Career:
- He started his entrepreneurial journey in 1999 with “Net HR”, an IT recruitment firm.
• In 2009 he founded Jaro Education.
•His leadership, Jaro has also diversified: e.g. he acquired a Non-Banking Finance Company (NBFC) in 2016 to support women entrepreneurs.
• In 2018, he set up “Jaro Toppscholars” (in the K-12 segment) to offer personalized learning for school curricula.
Balkrishna Namdeo Salunkhe
- He is a Non-Executive Director and a promoter of Jaro Education.
Jaro Institute of Technology Management & Research Limited IPO Lot Size
Here are the details of the lot size for Jaro Institute of Technology Management & Research Limited IPO:
| Application | Lots | Shares | Amount |
|---|---|---|---|
| Retail (Min) | 1 | 16 | ₹14,240 |
| Retail (Max) | 14 | 224 | ₹1,99,360 |
| S-HNI (Min) | 15 | 240 | ₹2,13,600 |
| S-HNI (Max) | 70 | 1,120 | ₹9,96,800 |
| B-HNI (Min) | 71 | 1,136 | ₹10,11,040 |
Jaro Institute of Technology Management & Research Limited IPO Promoter Holding
Here are the promoter holdings for Jaro Institute of Technology Management & Research Limited (Jaro Education) as per its DRHP / other public filings:
| Promoter Holding Pre Issue | 78.28% |
| Promoter Holding Post Issue | 57.32% |
About Jaro Institute of Technology Management & Research Limited
- Name: Jaro Institute of Technology Management & Research Limited (Jaro Education).
- Founded: 2009, by Dr. Sanjay Namdeo Salunkhe.
- Headquarters: Mumbai, Maharashtra. Address is 11th Floor, Vikas Centre, Dr. C.G. Road, Chembur (East), Mumbai.
- Business: It’s an edtech / education company focused on online higher education and upskilling, offering degree, diploma, and certificate programmes. They have both online, hybrid, and in-person formats, in collaboration with partner institutions.
Business Model & Offerings
- Offers a portfolio of academic degree programmes (e.g. MBA, DBA, PG/UG degrees etc.) in partnership with universities. Also offers certificate / upskilling programmes in fields like data science, fintech, analytics etc.
- Has “offline / in-person / hybrid” learning centres as well: ~22 learning centres/offices across major cities + immersive tech studios in partner campuses, e.g. IIMs.
- Collaborations / partners: 30+ partner institutions nationally and some international ones (e.g. Swiss School of Management, Rotman School of Management, University of Toronto). Also multiple IITs, IIMs among its partner institutions.
Challenges / Risks (from public sources)
- Dependence on partner institutions: Since many degree programmes are offered in partnership, the terms of those partnerships (revenue-share, quality, branding) and any changes there could impact margins.
- Marketing / cost pressure: To maintain growth in learner enrolment, substantial spending in brand building / advertising / marketing is involved. These are recurring costs that could rise.
- Competition: From other edtech platforms, universities offering online / hybrid programmes, and new entrants. Also regulation, accreditation, quality assurance are relevant concerns. (While not all of these are spelled out in one place, they are typical in this sector and implied in the DRHP risks.)
Jaro Institute of Technology Management & Research Limited Financial Information
Here is a table summarizing the key financials of Jaro Institute of Technology Management & Research Limited (Jaro Education) for the recent past years, along with growth percentages:
| Period Ended | 31 Mar 2025 |
| Assets | ₹276.70 Crore |
| Total Income | ₹254.02 Crore |
| Profit After Tax | ₹51.67 Crore |
| EBITDA | ₹83.58 Crore |
| NET Worth | ₹171.55 Crore |
| Reserves and Surplus | ₹151.31 Crore |
| Total Borrowing | ₹51.11 Crore |
Key Performance Indicator (KPI)
Here are some Key Performance Indicators (KPIs) for Jaro Institute of Technology Management & Research Limited (Jaro Education), based on their prospectus, financial reports and public disclosures:
| KPI | Values |
|---|---|
| ROE | 35.76% |
| ROCE | 37.38% |
| Debt/Equity | 0.30 |
| RoNW | 30.12% |
| PAT Margin | 20.34% |
| EBITDA Margin | 33.13% |
| Price to Book Value | 10.50 |
Objects of the Issue (Jaro Institute of Technology Management & Research Limited IPO Objectives)
Here are the objectives of the issue (i.e. how Jaro Institute plans to use the net proceeds from its IPO) as per its DRHP / IPO disclosures:
Objects of the Issue
- Marketing, brand building and advertising activities — ₹ 81 crore
- Prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the Company — ₹ 48 crore
- General corporate purposes — the remainder of the fresh issue proceeds after the above two uses.
Strengths of Jaro Institute of Technology Management & Research Limited IPO
1) Established Brand and Market Position
- Jaro Education is a prominent player in India’s online higher education and upskilling sector, with a strong brand presence and pan-India reach.
2) Strategic Partnerships
- The company collaborates with over 32 esteemed institutions, including IITs, IIMs, and international universities like the Swiss School of Management and the Rotman School of Management at the University of Toronto.
3) Diverse Program Portfolio
- Jaro offers a wide range of programs across management, technology, and analytics, catering to professionals and students seeking advanced education.
4) Consistent Profitability
- The company has demonstrated consistent profitability since its inception, indicating a sustainable business model.
5) Extensive Alumni Network
- With an extensive alumni network of over 350,000 professionals, Jaro has a broad market reach and strong brand recall.
Risks of Jaro Institute of Technology Management & Research Limited IPO
1) Dependence on Partner Institutions
- Jaro’s business model relies on revenue-sharing agreements with partner institutions. Any reduction in the revenue share or direct marketing by these partners could impact Jaro’s revenue and profitability.
2) Quality Control Challenges
- The company’s success is closely tied to the quality of content and course delivery by partner institutions. Any decline in quality could adversely affect Jaro’s reputation and enrollment numbers.
3) Competitive Market Landscape
- The online education sector is highly competitive, with numerous players vying for market share. Intense competition could pressure margins and hinder growth prospects.
4) Regulatory Risks
- Changes in government policies or regulations pertaining to online education could impact Jaro’s operations and financial performance.
5) Market Demand Fluctuations
- Shifts in market demand for online education programs, influenced by factors like economic conditions and technological advancements, could affect enrollment and revenue.
Jaro Institute of Technology Management & Research Limited Contact Details
Here are the contact details for Jaro Institute of Technology Management & Research Limited (Jaro Education) across its major offices in India:
Mumbai (Head Office & Study Centers)
- Chembur (Head Office & Study Center)
11th Floor, Vikas Centre, Near Golf Club, Dr. C.G. Road, Chembur (East), Mumbai – 400074
📞 022-25205763 - Goregaon (Branch Office & Study Center)
1st Floor, Brijwasi Building, Opposite Udhyog Bhavan, Sonawala Road, Goregaon East, Mumbai – 400063
📞 022-69511000 - Thane (Branch Office & Study Center)
303, 3rd Floor, Sambhav IT Park, Rd Number 2, MIDC Colony, Raheja Gardens, Thane West, Thane – 400604
📞 022-25205763
Bengaluru (Study Centers)
- Koramangala (Branch Office & Study Center)
No. 9, Attic Space Karna, 1st Floor, 1st “D” Main, 1st Block, Koramangala, Bengaluru – 560034
📞 +91-7406533777 - Whitefield (Study Center)
Collab Cubicles, Brigade IRV Centre, Unit No. 301, 3rd Floor, Nallurahalli, Whitefield, Bengaluru – 560066
📞 +91-80-40124313
Other Major Cities
- Pune
- 3rd Floor, Amar Synergy, Next to Shell Petrol Pump, Near Pune Railway Station, Sadhu Vaswani Road, Agarkar Nagar, Pune – 411001
📞 020-48478198 - Office No. 301 & 202, Lalwani Icon, Sakore Nagar, Off New Airport Road, Pune – 411014
📞 020-48478198
- 3rd Floor, Amar Synergy, Next to Shell Petrol Pump, Near Pune Railway Station, Sadhu Vaswani Road, Agarkar Nagar, Pune – 411001
- Hyderabad
Office No. 202 C, H.No-6-31090/B/1, Front Lake Shore Tower, Raj Bhavan Road, Hyderabad – 500082
📞 040-49985427 - Chennai
2nd Floor, Shyamala Towers, Arcot Road, Chennai – 600093
📞 044-47872439 - Gurugram
Ground Floor, CLC Tower, Plot No. 146, Sector-44, Gurugram – 122003
📞 0124-4216747
Corporate Email
- General Inquiries: cs@jaro.in
- Tax & Legal: tax1@jaro.in
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