Jaro Institute of Technology Management & Research Limited

0.87x

subscribed

Jaro Institute of Technology Management & Research Limited

Educational Institutions
open
₹13,536Min. investment
  1. Pre-apply
    22 Sep
  2. Bid start
    23 Sep
  3. Bid end
    25 Sep
  4. Allotment
    26 Sep
  5. Release of funds
    29 Sep
  6. Demat transfer
    29 Sep
  7. Listing
    30 Sep

About Jaro Institute of Technology Management & Research Limited

SectorEducational Institutions
Price range₹846 – ₹890
IPO type
Regular
Lot size16 shares
Issue size₹450Cr
Red Herring Prospectus
Read
Market Cap
₹1,971CrHigher than sector avg
RevenueApr 2024 - Mar 2025
₹252.26CrHigher than sector avg
Growth rate3Y CAGR
43.71%

Jaro Institute of Technology Management & Research Limited IPO Overview

Jaro Institute IPO date

Jaro Institute IPO will open for subscription on September 23, 2025, and the closing date for the IPO is September 25, 2025. After this, investors are expected to be updated about the allotment status on September 26, 2025.

Investors who have been allotted shares can expect them to be credited to their demat account on September 29, 2025. The shares will be listed on the NSE and the BSE on Tuesday, September 30, 2025.

Jaro Institute IPO price band

The IPO includes a fresh issue only. The IPO price band has been set between ₹846 to ₹890 per share. Interested investors can choose a price within this band to apply for the IPO.

The IPO is a book-building issue, comprising a fresh issue of ₹170 crore and an offer for sale of ₹280 crore.

Jaro Institute's IPO listing price will be determined on September 30, 2025. The listing price is the price at which a company’s shares debut on the stock exchanges.

Jaro Institute IPO lot size

Jaro Institute IPO details have been declared. The minimum lot size for an application is 16 shares, and the investor would have to apply for a minimum of 1 lot. Meanwhile, the IPO issue size is approximately ₹450 crore.

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Revenue
Higher revenue means strong sales and good market demand
This IPO
₹252.26Cr
This sector
₹52.68Cr
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PAT
Higher PAT means strong profitability and efficient cost management
This IPO
₹51.67Cr
This sector
-₹5.12Cr
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Market cap
Higher market cap means strong confidence but may suggest overvaluation
This IPO
₹1,971Cr
This sector
₹392.04Cr
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P/E ratio
Lower ratio usually means stock is undervalued
This IPO
34.86
This sector
117.14
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D/E ratio
Lower ratio usually means fewer liabilities
This IPO
0.30
This sector
0.41
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Objectives

Funds for marketing
47.65%
Repayment of loans
26.47%
General corporate purposes
26.00%

Strength and Weakness

Geographic footprint and infrastructure

The company has 22 offices cum learning centres and 17 immersive studios across India as of March 31, 2025as of March 31, 2025. Partner Institutions are strategically distributed with 12 in the western region, 7 in the northern region, 11 in the southern region and 2 in the eastern region.

Comprehensive service portfolio

The company offers comprehensive services, which include business intelligence and market research, admission-related services, marketing and sales distribution, learning delivery through multiple formats, and dedicated learner support as a one-stop platform for universities. Its marketing, brand-building and advertising activities generated 3.7x return in FY25.

Strong learning outcomes and completion rates

The company has maintained high completion rates with 85.03% for degree programs and 94.90% for certification courses as of March 31, 2025. It has facilitated significant learner growth for partner institutions, growing from 1,737 learners in 2021 to 5,478 learners added in FY25.

Diversified program portfolio

The company markets and facilitates delivery of 268 degree programs and certification courses across diverse subjects, including MBA (138 programs), Technology (31 programs), Commerce (12 programs), Data Science (11 programs), and multiple other domains with durations ranging from 3 months to 36 months.

Premium partnership portfolio

The company has a partnership with 36 partner institutions, including 16 Tier-1 universities and institutions (which include 7 IIMs and 7 IITs) and 15 Tier-2 universities and institutions as of March 31, 2025. It also expanded globally to collaborate with 4 prestigious institutions, including the Swiss School of Management and the Rotman School of Management, University of Toronto, etc.

About Jaro Institute of Technology Management & Research Limited

Established in 2009, Jaro Institute of Technology Management & Research is an online higher education and upskilling platform. The company has been one of the early movers in the online higher education and upskilling space and operates as an entirely bootstrapped institution.
The company markets and facilitates delivery of a diversified range of online degree programs as well as cross-disciplinary certification courses, in partnership with 36 partner institutions, including 16 Tier-1 universities and institutions, which include 7 IIMs and 7 IITs and 15 Tier-2 universities and institutions as of March 31, 2025.
The institute maintains a pan-India presence with 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 as of March 31, 2025. As of March 2025, partner institutions are spread across India with 12 in the western region, 7 in the northern region, 11 in the southern region and 2 in the eastern region. The company has also expanded its outreach to collaborate with four prestigious institutions internationally.
The company derives revenue from its share of fees paid by learners undertaking degree programs and certification courses offered by partner institutions, which include application fees, tuition fees, study material and exam fees, and other fees, with varying percentages mutually agreed upon. In FY25, the revenue share ranged from 23% to 70% of the fees paid by learners undertaking the degree programs and certification courses offered by universities and institutions.
It collects revenue through two modes: direct collection of fees from learners and invoicing by partner institutions or collection of fees by partner institutions, which are subsequently invoiced in the company's name. For FY25, ~80.56% of revenue from operations is derived from collaborations with Tier-2 universities, while the rest 19.04% is derived from collaborations with Tier-1 universities.
As of March 2025, it offers 268 degree programs and certification courses across various domains and enrollments for degree programs and certification courses grew at a CAGR of 24.50% and 40.44% respectively, during FY22 to FY25. The top five partner institutions contributed 62.40% of revenue for FY25, have long-term relationships with the company, spanning up to 7 years. As of March 2025, it serves a diverse learner base with 44.14% of learners having 2+ years of work experience and 22.19% having 5+ years of work experience, who bring real-time industry challenges into the classroom.
The Indian education system is one of the largest in the world, with more than 14.7 lakhs schools and ~25 crore students participating in modern K-12 education. The Indian education market is expected to reach a market value of ₹2,500,000 crore by FY28 at a CAGR of 11.4% from FY24 to FY28. The online higher education and upskilling sector in India is projected to reach a market size of ₹85,000 crore by FY28, at a CAGR of 22.2% from FY24 to FY28, driven by several factors, including increasing internet penetration, rising demand for online education, and the need for upskilling and reskilling in the wake of the COVID-19 pandemic.
Online higher education and upskilling companies employ referral and earning options strategies as part of their outreach initiatives to expand their student enrollment. The student referral enrollment percentage of Jaro Education in the online higher education and upskilling sector is ~31.6% for FY25. Therefore, with the focus of providing flexible learning options in partnership with Indian and global institutes, Jaro Institute is well placed to capitalise on the potential of the online higher education and upskilling market in India.
Now, Jaro Institute of Technology Management & Research Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹170 crore and an offer for sale of ₹280 crore. The total issue size of the IPO is ₹450 crore. Its shares will be listed on the NSE and BSE.

IPO Subscription Status

Date
QIB
NII
Retail
Total
23-Sep-25
0.12 times (X)
1.8 times (X)
0.7 times (X)
0.87 times (X)

Frequently asked questions

How to invest in the IPO?

Investors can apply for the IPO through their Demat account via the stock exchange or through their broker.

What is the issue size of Jaro Institute of Technology Management & Research Limited ?

The issue size of the Jaro Institute of Technology Management & Research Limited is 450 Cr.

What is 'pre-apply' for Jaro Institute of Technology Management & Research Limited ?

Pre-applying for an IPO allows you to submit your application before the official subscription period begins.

Which exchanges will Jaro Institute of Technology Management & Research Limited shares list on?

The IPO shares will typically list on major stock exchanges such as the National Stock Exchange (NSE) and Bombay Stock Exchange (BSE), as specified in the IPO prospectus.
Bidding closes on 25 Sep 2025, 5:00 PM