Jaro Education's IPO Sees Strong Investor Demand, Fully Subscribed On Day 2

2025-09-24 09:15:28

(MENAFN- IANS) Mumbai, Sep 24 (IANS) The IPO of Jaro Institute of Technology Management and Research Limited, better known as Jaro Education, has received an enthusiastic response from investors, getting fully subscribed on the second day of its launch.

The strong demand, especially from marquee investors, has generated a lot of positive buzz in the market ahead of the IPO's closing on September 25. The company is expected to list on the stock exchanges on September 30, 2025.

The IPO comprises a fresh issue of Rs 170 crore and an offer for sale (OFS) worth Rs 280 crore by the company's promoter, Sanjay Namdeo Salunkhe.

The price band for the IPO is set between Rs 846 and Rs 890 per share.

Jaro Education raised Rs 135 crore from several top institutional investors ahead of the IPO, including WhiteOak, Madhu Kela's Singularity, Sunil Singhania's Abakkus, Citi Global, 360 One, Societe Generale, LC Pharos, and Nomura.

The pre-IPO round also saw participation from well-known names like Utpal Sheth, Deven Choksey, Subhkam Ventures, and the family office of the Polycab promoters.

The funds raised from the fresh issue will primarily be used for marketing and brand building (Rs 81 crore), repayment of debt (Rs 45 crore), and general corporate purposes.

Financially, Jaro Education has shown strong growth in recent years. For FY25, the company reported net revenues of Rs 254.02 crore and a profit after tax (PAT) of Rs 51.67 crore.

This marks a significant increase from a PAT of Rs 12 crore in FY23 -- reflecting a growth of 343 per cent.

The PAT margin also more than doubled in the same period, from 9 per cent to 20 per cent.

The company's return ratios, such as ROE and ROCE, have crossed 35 per cent.

Admissions at Jaro Education have also grown significantly, rising from 21,579 in FY23 to 31,434 in FY25 -- a 46 per cent increase.

The company has declared a 10 per cent dividend on the face value of Rs 10 per share for FY25.

Founded as a bootstrapped company, Jaro Education has been profitable for the past 15 years, relying entirely on its internal resources for growth.

It is known for being one of the early movers in online higher education and upskilling in India.

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