Jaro Institute of Technology Management and Research (Jaro Education) on September 18 said it is looking to raise Rs 450 crore through its Initial Public Offering (IPO), which will open for subscription on September 23.
In a public announcement, the company said it has fixed a price band of Rs 846 to Rs 890 per share for its maiden public offering.
The company's IPO –comprises a fresh issue of shares worth Rs 170 crore and an Offer for Sale (OFS) of shares valued Rs 280 crore by promoter Sanjay Namdeo Salunkhe — is scheduled to conclude on September 25.
Of the fresh issuance, Rs 81 crore has been earmarked for marketing, brand building and advertising activities, Rs 45 crore for payment of debt and the rest for general corporate purposes.
Founded in 2009 by Salunkhe, Jaro Education offers degree programs and certification programs in collaboration with its partner institutions.
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As of March 2025, it has over 22 offices-cum-learning centres across major cities for offline learning, apart from 17 immersive tech studio set-ups in the campuses of various IIMs, and cater to a total of 36 partner institutions such as IITs, IIMs and premier global institutions like Swiss School of Management and Rotman School of Management, University of Toronto.
It offers 268 course offerings and programs of diverse domains Nuvama Wealth Management, Motilal Oswal Investment Advisors, and Systematix Corporate Services are book running lead managers while Bigshare Services is the registrar to the IPO.
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