Jaro Institute of Technology Management and Research raises ₹135 crore from anchor investors ahead of IPO

Jaro Institute of Technology Management and Research Limited has garnered ₹135 crore from anchor investors ahead of its initial public offering. The company informed the bourses that it allocated 15,16,853 equity shares at ₹890 per share on Monday, September 22, 2025, to anchor investors.

Some of the marquee institutions that participated in the anchor include WhiteOak Capital, 360 One, Societe Generale, LC Pharos, Singularity Equity, Abbacus, Subhkam Ventures, ITI Mutual Fund, Uniersal Sampo, Viney Growth Fund, Citi Group Global Markets, and Nomura Singapore.

The issue is set to open for bidding tomorrow, September 23, and will remain open until Thursday, September 25. The IPO comprises a fresh issue of 0.19 crore shares aggregating to ₹170 crore and an offer for sale of 0.31 crore shares aggregating to ₹280 crore.

Promoter Sanjay Namdeo Salunkhe is selling equity shares worth ₹400 crore through the OFS route. Salunkhe holds a majority 78.2 percent stake in the company, according to the draft red herring prospectus (DRHP).

The company is offering its shares at ₹846–890 each, with a lot size of 16 shares. This requires a minimum investment of ₹14,240. As the IPO is entirely an OFS, the company will not receive any proceeds from the share sale. The issue provides promoters and selling shareholders with an exit route.

The allotment for the Jaro Institute IPO is expected to be finalized on Friday, September 26, 2025. Credit of shares to Demat accounts and initiation of refunds will occur on September 29, 2025. The IPO is scheduled to list on BSE and NSE on a tentative date of September 30, 2025.

Up to 50 per cent of the offer is reserved for QIB investors, a minimum of 35 percent for retail investors, and at least 15 per cent for non-institutional investors.

Nuvama Wealth Management, Motilal Oswal Investment Advisors, and Systematix Corporate Services are appointed as book-running lead managers, with Bigshare Services serving as the registrar for the IPO.

About the company

Jaro Education was founded in 2009 by Sanjay Salunkhe, who serves as chairman and managing director. The institute provides technology-driven degree programs and certification courses in collaboration with its partner institutions, serving both students and C-suite professionals.

As of March 31, 2024, Jaro Education has over 22 offices and learning centers across major Indian cities for offline learning, along with 15 tech studio setups on IIM campuses. It collaborates with 34 partner institutions, including top Indian institutes like IITs and IIMs, and global institutions such as the Swiss School of Management and the Rotman School of Management, University of Toronto.

In FY24, the company reported operational revenue of ₹199 crore, marking a 63 percent increase compared to FY23.

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