Jaro Education IPO will open for subscription on September 23, 2025, and close on September 25, 2025. Incorporated in 2009, Jaro Institute of Technology Management and Research Limited (Jaro Education) is a leading online higher education and upskilling platform in India.
Over the years, the company has developed a strong presence in both online and blended learning formats, making education accessible to a wide spectrum of students and professionals.
In this blog, we’ll cover all the details related to Jaro Education IPO, including price band, minimum investment for different investors, financial performance, and key risk factors.
Jaro Education IPO Date
The key pointers for the Jaro Institute IPO dates are:
- Bidding Opening Date: September 23, 2025
- Bidding Closing Date: September 25, 2025
- Allotment Date: September 26, 2025
- Initiation of Refunds (in case of less or no allotment): September 29, 2025
- Shares Credited to Your Demat Account: September 29, 2025
- IPO Listing Date: September 30, 2025
- Listing on Exchange: BSE and NSE
WHY SMC
- 20 Lac+ unique clients
- 33+ Years of Serving
- Advance Technical Analysis
- Free Demat Account
Jaro Education IPO Issue Size
Jaro Institute IPO valuation, as denoted by the market capitalisation, is targeted at ₹1,971.91 crores. Here are the essential details:
- Jaro Institute IPO Price Band: ₹846 to ₹890 per share
- Lot Size: 16 Shares
- Issue Size and Amount: 51 lakh shares (aggregating up to ₹450 crores)
- Fresh Issue and Amount: 19 lakh shares (aggregating up to ₹170 crores)
- Offer for Sale and Amount: 31 lakh shares of ₹10 (aggregating up to ₹280 crores)
Jaro Education IPO Proceeds Usage
The net proceeds from the Jaro Institute IPO are proposed to be utilised for the following purposes:
- Marketing, brand building, and advertising activities (₹81 crores): A significant portion of the net proceeds will be directed towards strengthening the company’s visibility and reputation in the competitive edtech and higher education market.
- Prepayment or scheduled repayment of borrowings (₹45 crores): Part of the proceeds will be utilised to prepay or repay certain outstanding borrowings.
- General corporate purposes (balance of proceeds): The remaining funds will be allocated to meet general business needs.
Jaro Institute IPO Reservations
Jaro Institute IPO reservations to different investors are:
- For QIBs: Not more than 50% of the Net Offer
- For NIIs: Not less than 15% of the Net Offer
- For Retail Investors: Not less than 35% of the Net Offer
Jaro Education IPO Lot Size
Jaro Institute IPO lot size is 16 shares, wherein bidding can be done in multiples. The minimum amount that each category of investor needs to bid in this IPO is:
| Category | Lots | Shares | Amount (₹) |
|---|---|---|---|
| Retail (Min) | 1 | 16 | 14,240 |
| S-HNI (Min) | 15 | 240 | 2,13,600 |
| B-HNI (Min) | 71 | 1,136 | 10,11,040 |
Jaro Education IPO Details: Promoter Holding
Sanjay Namdeo Salunkhe and Balkrishna Namdeo Salunkhe are the promoters of the company.
Jaro Institute of Technology Management & Research Limited: Company Overview
Incorporated in 2009, Jaro Institute of Technology Management and Research Limited (Jaro Education) is a leading platform for online higher education and upskilling.
Over the years, it has built a strong presence across India, supported by more than 22 offices-cum-learning centres in major cities for offline learning and 17 advanced technology studio set-ups located within IIM campuses. These facilities enable the company to serve 36 partner institutions and bring high-quality education closer to learners across the country.
Key Offerings
The company provides a broad portfolio of online degree programs, such as DBA, MBA, M.Com, M.A., PGDM, MCA, M.Sc, B.Com, and BCA, alongside cross-disciplinary certification courses.
By March 31, 2025, it was facilitating 268 degree and certification programs through its partner institutions, offering diverse options to meet the educational and career needs of students and professionals. Jaro’s operations are supported by a workforce of 860 employees as of March 2025, reflecting the scale and capability of its business.
Key Strengths
Jaro Education’s strength lies in its strong position in the online higher education and upskilling space, supported by comprehensive solutions that benefit both partner institutions and learners.
The company enjoys predictable revenues, thanks to long-term, trusted relationships with its clients and a consistent track record of facilitating high-quality, diverse offerings. By leveraging technology and digital platforms, Jaro has successfully combined accessibility with efficiency.
Its senior management team brings deep expertise and proven industry experience, positioning the company well to drive growth in the rapidly expanding education sector.
Jaro Education: Financial Performance
Jaro Institute of Technology Management & Research Limited’s key financials for different periods are as follows:
| Particulars (in ₹ Cr) | FY25 | FY24 | YoY Change |
|---|---|---|---|
| Revenue from operations | 252.26 | 199.05 | 27% |
| Profit after Tax (PAT) | 51.67 | 37.97 | 36% |
| EBITDA | 83.58 | 63.56 | 32% |
| Net Worth | 171.55 | 117.43 | 46% |
| Debt – Equity Ratio | 0.3 | 0.21 | 0.09 |
| ROCE | 37.38% | 40.90% | -3.52% |
| ROE | 35.76% | 37.82% | -2.06% |
| Number of Universities (No.) | 36 | 34 | 2 |
| Number of Admissions (No.) | 31,434 | 29,145 | 2,289 |
- Revenue Growth: Revenue from operations increased by 27%, rising from ₹199.05 crore in FY24 to ₹252.26 crore in FY25, supported by higher enrolments and expanded university offerings.
- Profitability: Profit after tax (PAT) grew by 36%, moving up from ₹37.97 crore in FY24 to ₹51.67 crore in FY25, driven by improved operating efficiency and cost management.
- EBITDA Performance: EBITDA rose by 32%, increasing from ₹63.56 crore in FY24 to ₹83.58 crore in FY25, reflecting better operational leverage and scale benefits.
- Strengthened Net Worth: Net worth increased by 46%, from ₹117.43 crore in FY24 to ₹171.55 crore in FY25, supported by sustained profitability and retained earnings.
- Debt Position: The debt-to-equity ratio increased slightly from 0.21 in FY24 to 0.30 in FY25, reflecting moderate leverage to fund growth initiatives.
- Return on Capital Employed (RoCE): RoCE decreased by 3.52 percentage points, from 40.90% in FY24 to 37.38% in FY25, indicating slightly lower capital efficiency.
- Return on Equity (RoE): RoE declined marginally by 2.06 percentage points, from 37.82% in FY24 to 35.76% in FY25, reflecting changes in profitability relative to equity.
- University Expansion: The number of universities increased by 2, from 34 in FY24 to 36 in FY25, showing steady expansion in institutional reach.
- Admissions Growth: Total admissions grew by 2,289, from 29,145 in FY24 to 31,434 in FY25, demonstrating continued learner demand and engagement.
WHY SMC
- 20 Lac+ unique clients
- 33+ Years of Serving
- Advance Technical Analysis
- Free Demat Account
Jaro Education IPO Risk Factors
Jaro Education IPO GMP is ₹115 as of September 22, 2025 (at 17:35). It is expected to list at a 12.92% gain at a price of ₹1,005. However, GMP is not a safe or assured criterion to bid for an IPO. It is important to do your own analysis before investing in any IPO.
Jaro Institute IPO is exposed to various risk factors that can eventually affect its business and investors’ perception:
- Dependency on Partner Institutions: Business relies on Partner Institutions for academic content and course delivery. Any slowdown in their online program adoption may impact revenue and growth.
- Revenue Concentration: A large portion of revenue comes from a few key partners. Losing one or more could adversely affect business performance.
- Geographic Concentration: Operations are primarily in the Western region, contributing 73% of revenue in FY25. Regional economic or demographic changes could limit growth.
- Adoption of Online Programs: Revenue depends on institutions adopting online programs. A preference for on-campus courses may restrict profitability.
- Historical Cash Flow Volatility: Past negative cash flows show performance may vary. Historical results may not indicate future growth.
- Reliance on Third-Party LMS Providers: Dependence on external LMS platforms creates operational risk. Service disruptions could affect learners, partners, and reputation.
For all the insights on Jaro Education IPO and detailed expert advice, you can download the SMC ACE App or visit the SMC telegram channels. Take smart decisions and apply for the Jaro Institute IPO easily on the SMC ACE Apply by opening free demat account now.
Frequently Asked Questions – FAQs
1. What are the IPO dates and listing exchange for Jaro Education?
The IPO opens on September 23, 2025, and closes on September 25, 2025. Allotment is expected on September 26, 2025, with listing on September 30, 2025, on both the BSE and NSE.
2. What is the price band and size of the Jaro Institute IPO and how is it structured?
Jaro Education IPO price band is fixed between ₹846 and ₹890 per share. The total issue size is 50,56,179 shares aggregating up to ₹450 crores. This includes a Fresh Issue of ₹170 crores and an Offer for Sale of ₹280 crores.
3. How will the IPO proceeds be utilised?
The net proceeds will be used for marketing, brand building, and advertising activities, repayment or prepayment of certain borrowings, and general corporate purposes.
4. What is the lot size for retail investors and the minimum investment required?
The lot size is 16 shares per lot. For retail investors, the minimum application is 1 lot (16 shares), requiring an investment of ₹14,240 at the upper band. The maximum for retail is 14 lots (224 shares), amounting to ₹1,99,360.
References:
https://www.nuvama.com/wp-content/uploads/2025/09/September-17-2025-JARO-INSTITUTE-OF-TECHNOLOGY-MANAGEMENT-AND-RESEARCH-LIMITED-RHP.pdf
https://www.investorgain.com/gmp/jaro-education-ipo-gmp/1435/
Author: All Content is verified by SMC Global Securities.
WHY SMC
- 20 Lac+ unique clients
- 33+ Years of Serving
- Advance Technical Analysis
- Free Demat Account
