Subscribe for Jaro Institute of Technology Management and Research Ltd IPO; Deven Choksey

IPO

Deven Choksey, Jaro Institute of Technology Management and Research Ltd

Jaro Institute of Technology Management and Research Limited (“Jaro Education”), was incorporated in 2009, with the aim of bridging the gap between academic institutions and learners through technology-enabled education solutions. It is primarily engaged in providing services to facilitate higher education, executive education, certification, and corporate upskilling. The Company acts only as an intermediary and enabler, between the academic institution and learner, and does not award degrees. Moreover, it also provide business analytics services to institutions for equipping them with required infrastructure, processes, and digital platforms, for ensuring smooth delivery of educational programs at scale.

Valuation and Outlook

Although, the issue being priced at ~38.0x, we believe the stock is attractively priced, driven by its strong revenue growth, healthy margin and return profile. We expect the Company to perform well in terms of profitability, with increase in enrolments. We assign a “SUBSCRIBE” rating to the issue.

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