Jaro Institute of Technology Management and Research Limited (Jaro Education) is a leading player in the online higher education space with a strong pan-India presence. As of March 31, 2024, the company operates 22 offices-cum-learning centres across major cities for offline learning, along with 15 immersive tech studio set-ups within the campuses of leading IIMs, enhancing the hybrid learning experience.
Jaro Education has built a wide network of 34 Partner Institutions in India and abroad, including prestigious names like IITs, IIMs, Swiss School of Management, and Rotman School of Management, University of Toronto. Out of these, 24 partner institutions are ranked among the top 100 in their respective streams by NIRF (2024), reflecting the quality and credibility of its collaborations.
The company has received appreciation from reputed institutions such as Symbiosis International (Deemed University), IITs, and IIMs for providing technology infrastructure, lecture delivery support, marketing, promotions, and student acquisition services.
Its program portfolio spans a wide spectrum:
- Degree Programs: D.B.A., M.B.A., M.Com., M.A., P.G.D.M., M.C.A., B.Com., B.C.A., and more, offered in collaboration with 13 universities in India, including 9 universities ranked in NIRF’s Top 100.
- Professional & Certification Programs: Online, hybrid, and in-person courses in management, fintech, data science, business analytics, design thinking, and digital marketing. These are delivered in partnership with 21 institutes across India, including 7 IIMs and 6 IITs, along with other top-ranked institutions.
Jaro Institute IPO – Details
| IPO Opening Date | 23 September 2025 |
| IPO Closing Date | 25 September 2025 |
| Issue Type | Book Built Issue IPO |
| Issue Size | Total Issue Size: 50,56,179 Shares Worth ₹450.00 Crore Fresh Issue: 19,10,112 Shares Worth ₹170.00 Crore Offer For Sale: 31,46,067 Shares Worth ₹280.00 Crore |
| Face Value | ₹10 per equity share |
| IPO Price | ₹846 – ₹890 per share |
| Market Lot | 16 Shares |
| Min Order | 16 Shares [ 1 Lot ] |
| Listing At | BSE, NSE |
| Register | Bigshare Services Pvt.Ltd. |
| QIB Shares Offered | 50% |
| NII (HNI) Shares Offered | 15% |
| Retail Shares Offered | 35% |
Jaro Institute IPO – Date Schedule
| IPO Open Date | 23 September 2025 |
| IPO Close Date | 25 September 2025 |
| Basis of Allotment | 26 September 2025 |
| Initiation of Refund | 29 September 2025 |
| Credit of Shares to Demat Account | 29 September 2025 |
| IPO Listing Date | 30 September 2025 |
| Cut-off time for UPI mandate confirmation | 5 PM on September 25, 2025 |
Jaro Institute IPO – Lots Size & Price
| 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 | 1120 | ₹9,96,800 |
| B-HNI (Min) | 71 | 1136 | ₹10,11,040 |
Competitive Strength
- Market-leading position in online higher education and upskilling space with strong brand image and pan-India presence;
- Comprehensive solutions to Partner Institutions and Learners;
- High revenue predictability backed by long-lasting, robust client relationships across industries;
- Proven track record in delivering high quality and diversified course offerings;
- Leveraging technology and digitalization for enhancing client experience and business expansion; and
- Experienced senior management team with deep industry expertise and proven track record.
Company Promoters
- Sanjay Namdeo Salunkhe
- Balkrishna Namdeo Salunkhe
Company Financials
| Particulars | Total Revenue | Total Expense | Profit After Tax | Total Borrowing |
|---|---|---|---|---|
| 31 March 2022 | ₹86.88 Cr | ₹75.49 Cr | ₹33.18 Cr | ₹24.58 Cr |
| 31 March 2023 | ₹124.59 Cr | ₹108.95 Cr | ₹11.42 Cr | ₹37.77 Cr |
| 31 March 2024 | ₹202.57 Cr | ₹148.22 Cr | ₹38.01 Cr | ₹24.85 Cr |
| ₹254.02 Cr | ₹183.88 Cr | ₹51.67 Cr | ₹51.11 Cr |
Key Performance Indicator
| 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 |
| Pre IPO | Post IPO | |
| EPS (₹) | 25.52 | 23.32 |
| P/E (x) | 34.88 | 38.17 |
Object Of The Issue
| Objects of the Issue | Expected Amount (₹ in crores) |
|---|---|
| Marketing, brand building and advertising activities. | ₹81.00 |
| Prepayment or scheduled repayment of a portion of certain outstanding borrowings availed by the Company. | ₹45.00 |
| General corporate purposes. |
Jaro Institute IPO Peer Comparison
- There are no listed companies in India or globally that engage in a business similar to that of the Company. Accordingly, it is not possible to provide a KPI comparison in relation to the Company.
✅Strengths
- Strong tie-ups with 34 top institutions (IITs, IIMs, Rotman, Swiss School), 24 ranked in NIRF Top 100.
- Wide program mix: degrees, diplomas & certifications in management, tech, fintech, data science, etc.
- 22 learning centres & 15 IIM studio setups giving hybrid edge.
- Recognized by IITs, IIMs & Symbiosis for tech and student support.
- Over a decade of experience in higher education with scalable digital infra.
⚠️Risks
- Heavy dependence on partner universities; loss of tie-ups may impact growth.
- Strong competition from Indian and global edtech players.
- Vulnerable to regulatory changes in education sector.
- Revenue concentration in few key partners.
- Past reliance on related party loans/transactions for working capital.
Jaro Institute IPO Promoter Holding
| Pre Issue Share Holding | 78.28% |
| Post Issue Share Holding | 57.32% |
Jaro Institute IPO Prospectus
Company Contact Information
| Jaro Institute of Technology Management & Research Ltd. 11th Floor, Vikas Centre, Dr. C.G. Road, Chembur – East, Mumbai, Maharashtra, 400074 Phone: 022 2520 5763 Email: cs@jaro.in Website: https://www.jaroeducation.com/ |
Jaro Institute IPO Registrar
| Bigshare Services Pvt.Ltd. Phone: +91-22-6263 8200 Email: ipo@bigshareonline.com Website: https://ipo.bigshareonline.com/IPO_Status.html |
Jaro Institute IPO Lead Manager(s)
| 1. Systematix Corporate Services Limited 2. Motilal Oswal Investment Advisors Limited 3. Nuvama Wealth Management Limited |
Jaro Institute IPO FAQs
| What is Jaro Institute IPO? Jaro Institute IPO is a main-board IPO. The issue is priced at ₹846 to ₹890 per equity share. The IPO is to be listed on the BSE & NSE. |
| When will Jaro Institute IPO open? The IPO is to open on 23 September 2025 for QIB, NII, and Retail Investors. |
| What is Jaro Institute IPO Investors Portion? The investors’ portion for QIB – 50%, NII – 15%, and Retail – 35%. |
| What is Jaro Institute IPO Size? Jaro Institute IPO size is ₹450.00 Crore. |
| What is the Jaro Institute IPO Minimum and Maximum Lot Size for Retail? The minimum bid is 16 Shares with ₹14,240, while the maximum bid is 224 Shares with ₹1,99,360. |
| What is the Jaro Institute IPO Allotment Date? Jaro Institute IPO allotment date is 26 September 2025. |
| What is the Jaro Institute IPO Listing Date? Jaro Institute IPO listing date is 30 September 2025. The IPO is to be listed on BSE and NSE. |
