Jaro Education IPO Subscription Status
As of 10:55 am, the IPO was subscribed 1.10 times, per official stock exchange data.
Non-Institutional Investors (NIIs): This segment, which includes high-net-worth individuals and others, saw a subscription of approximately 2.13 times.
Retail Investors: The retail portion was fully subscribed at 100% against the 18.61 lakh shares reserved.
Qualified Institutional Buyers (QIBs): Institutional investors have bid for 47% of the 10.63 lakh shares allocated to them.
Jaro Education IPO Grey Market Premium (GMP) Today
The IPO is currently trading at a grey market premium of around 13%, or Rs 115, signalling positive investor sentiment about the stock’s potential listing performance. This suggests the stock may debut around Rs 1,005 per share.Note: Grey Market Premium (GMP) is an unofficial price estimate for a stock before its official market listing. Since it operates in an unregulated space, GMP values can fluctuate significantly and should be viewed with caution.
Jaro Education – Key Information
The subscription period will be open for three days, from Tuesday, September 23, through Thursday, September 25. The tentative allotment date is scheduled for Friday, September 26, with listing expected on Tuesday, September 30.
Company Overview
Established in 2009, Jaro Institute of Technology Management and Research Limited (operating as Jaro Education) is an online platform focused on higher education and professional skill development.
The company offers a wide range of online degree programs, including DBA, MBA, M.Com, M.A., PGDM, MCA, M.Sc, B.Com, and BCA, along with multidisciplinary certification courses. These programs are provided in collaboration with 36 partner institutions as of March 31, 2025.
Financial Performance
Jaro Education has demonstrated strong financial growth in recent years. Its revenue increased from Rs 122 crore in FY23 to Rs 252 crore in FY25, representing a CAGR of 44%. Adjusted PAT surged from Rs 11 crore to Rs 52 crore during the same period, a CAGR of 113%. The company’s EBITDA margins expanded from 19% to 32%, highlighting operational leverage.
Return metrics are impressive, with Return on Equity (RoE) rising from 14.6% in FY23 to 30% in FY25, while Return on Capital Employed (RoCE) reached 33.4% in FY25.
Use of IPO Proceeds
Funds raised from the fresh issue in Jaro Education IPO will be allocated for marketing and brand promotion (Rs 81 crore), repayment of debt (Rs 45 crore), and general corporate purposes.
The Jaro Education IPO is being managed by Nuvama Wealth Management, Motilal Oswal Investment Advisors, and Systematix Corporate Services, with Bigshare Services acting as the registrar. The lot size is 16 shares, with a minimum investment of Rs 14,240.
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Should You Subscribe?
At the upper price band, the Jaro Education IPO is priced at a P/E multiple of 38.2x based on FY25 earnings. Though valuations seem high, Jaro Education is a market leader in a rapidly expanding sector. India’s online higher education and upskilling market is expected to nearly double by FY28.
SBI Securities recommends a long-term subscription, highlighting Jaro’s strong growth prospects, leadership position, and scalable business model.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
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