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Jaro Institute of Technology Management & Research Limited
21.91xsubscribed

Jaro Institute of Technology Management & Research Limited

Educational Institutions
listed
₹13,536Min. investment

Jaro Institute of Technology Management & Research Limited IPO Details

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 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)
24-Sep-25
0.15X
3.41X
2.03X
1.95X
25-Sep-25
21.82X
34.59X
8.52X
21.91X

As on 23-Sep-25, 5:30 PM

Jaro Institute of Technology Management & Research Limited Timeline

  1. Pre-apply
    22 Sep 2025
  2. Bid start
    23 Sep 2025
  3. Bid end
    25 Sep 2025
  4. Allotment
    26 Sep 2025
  5. Release of funds
    29 Sep 2025
  6. Demat transfer
    29 Sep 2025
  7. Listing
    30 Sep 2025

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.

Checklist

Quality analysis
Revenue growth
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Earnings expansion
Risk analysis
Debt to Equity ratio
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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.

Objectives of Jaro Institute Of Technology Management And Research Limited IPO

Funds for marketing
47.65%
The company will use up to ₹81 crore for marketing, branding, and advertising.
Repayment of loans
26.47%
The company will utilise up to ₹45 crore towards repayment of a portion of borrowing availed by it.
General corporate purposes
26.00%
Part of the IPO proceeds will be used for general corporate purposes.

Compare

CompanyRevenue*3Y growthPATMarket capP/E ratioD/E ratio
This IPO₹252.26Cr43.71%₹51.67Cr₹1,971Cr34.860.30
This sector (avg.)₹52.68Cr----₹5.12Cr₹392.04Cr117.140.41
₹58.99Cr---₹7.06Cr₹2,207.31Cr318.190.11
₹470.87Cr----₹251.65Cr₹1,979.46Cr---2.57
₹72.28Cr---₹25.56Cr₹416.48Cr18.940

*Revenue for financial year 2024-25. Lower P/E and D/E ratios are generally preferred.

Jaro Institute of Technology Management & Research Limited Contact Details

Company NameJaro Institute of Technology Management & Research Limited

How to apply for Jaro Institute of Technology Management & Research Limited?

  1. Step 1

    Log in to your Upstox account to access IPO investments. Next, select the current IPO section.

  2. Step 2

    Specify IPO details. Enter the number of lots and the price you wish to apply for.

  3. Step 3

    Enter UPI ID. After entering your UPI ID, click submit. This will place your bid with the exchange.

  4. Step 4

    Mandate Notification. Your UPI app will receive a mandate notification to block funds.

  5. Step 5

    Approve Request. Your funds will be blocked once you approve the mandate request on your UPI.

Jaro Institute Of Technology Management And Research Limited IPO FAQs

Investors can apply for the Jaro Institute of Technology Management & Research Limited through their Demat account via the stock exchange or through their broker.
The issue size of the Jaro Institute of Technology Management & Research Limited is 450 Cr.
Pre-applying for an IPO allows you to submit your application before the official subscription period begins.
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.
Jaro Institute of Technology Management & Research Limited will be open between 2025-09-23 and 2025-09-25.
Jaro Institute of Technology Management & Research Limited allotment date is 2025-09-29. For Jaro Institute of Technology Management & Research Limited allotment status check, you can visit the website of the registrar of the IPO.
For Jaro Institute of Technology Management & Research Limited, the IPO registrar is Bigshare Services Private Limited. You can check Jaro Institute of Technology Management & Research Limited allotment status on the website of the registrar.
The shares are proposed to be listed on the BSE and NSE.
The Jaro Institute of Technology Management & Research Limited shares will typically be credited to your demat account one working day before the IPO's listing date, provided your application is successfully allotted.
The Jaro Institute of Technology Management & Research Limited lot size is 16 and minimum order quantity is 16.
Jaro Institute of Technology Management & Research Limited has set the price band for its IPO at 890 per equity share with a face value of 10.