Jaro Institute IPO day 3: GMP, subscription status to review. Apply or not?

Jaro Institute IPO day 3: the initial public offering (IPO) of Jaro Institute of Technology Management & Research Limited opened on 23 September 2025 and will remain open until 25 September 2025. This means investors have just one day to apply for the public issue. The online higher education company has declared the Jaro Institute IPO price band at ₹846 to ₹890 per equity share. The company aims to raise ₹450 crore from this initial offer, out of which ₹170 crore is aimed through the issuance of fresh shares. The remaining ₹180 crore is reserved for the offer for sale (OFS) route. The book building issue is proposed for listing on the BSE and the NSE. According to the Jaro Institute IPO subscription status, the public issue had been subscribed to 1.95 times after the end of bidding on day two.

Jaro Institute IPO GMP today

According to market observers, shares of Jaro Institute are available at a premium of ₹124 in the grey market today. This means Jaro Institute IPO GMP today is ₹124, ₹18 higher than yesterday's Jaro Institute IPO GMP of ₹106. Market observers said that the rise in the Jaro Institute IPO GMP is a good sign after a muted response by the Indian primary market investors and weak sentiments in the Indian stock market. They said the company's strong fundamentals could be the reason for the rise in the grey market sentiments regarding the Jaro Institute IPO.

Jaro Institute IPO subscription status

By 3:33 PM on day 3 of bidding, the public issue had been booked 18.04 times, the retail portion had been subscribed 7.86 times, whereas its NII segment had been filled 34.45 times. The QIB portion of the book build issue had been subscribed to 23.57 times.

Jaro Institute IPO review

Assigning a 'subscribe' tag to the public issue, Anand Rathi's report says, "At the upper price band, the company is valuing at P/E of 38.1x to its FY25 earnings, with EV/EBITDA of 24.8x and market cap of ₹19,719 million post issue of equity shares. We believe the IPO is fully priced and recommend a “SubscribeLong Term” rating to the IPO."

BP Equities has also assigned a 'buy' tag to the initial offer, saying, "At the upper price band of Rs. 890 per share, Jaro Institute is valued at a P/E multiple of 35x based on FY25 earnings. Given the company’s expanding margins, industry growth potential, and scalable business model, we believe that the valuation is justified. Thus, we recommend a “SUBSCRIBE” rating for this issue with a medium to long-term investment horizon."

Adroit Financial Services, Canara Bank Securities, DRChoksey Financial Services, Nirmal Bang, Venture Securities, and SBI Capital Securities have also assigned the Jaro Institute IPO a 'subscribe' tag.

Disclaimer: The views and recommendations made above are those of individual analysts or broking companies, and not of Mint. We advise investors to check with certified experts before making any investment decisions.