The Rs 450 crore IPO of Jaro Institute of Technology Management and Research Limited (Jaro Education) has received an excellent response from investors.
On the second day of bidding (Wednesday), the IPO was subscribed 1.95 times.
According to NSE data, 72,54,336 shares were bid for against 37,23,404 shares offered.
Subscription breakdown:
Non-institutional investors (NII): 3.49 times
Retail investors: 2.01 times
Qualified institutional buyers (QIBs): 68%
The company raised Rs 135 crore from anchor investors on Monday.
The IPO price band is set at Rs 846 to Rs 890 per share and closes on Thursday.
The offer includes:
Fresh issue: Rs 170 crore
Offer for Sale (OFS) by promoter Sanjay Namdev Salunke: Rs 280 crore
Use of funds from the fresh issue:
Rs 81 crore for marketing, branding, and advertising
Rs 45 crore for debt repayment
Remaining for general corporate purposes
Founded in 2009 by Sanjay Salunke, Jaro Education offers degree and certification programs.
By March 2025, the company plans to have 22 office-cum-learning centers and 17 immersive tech studios across India, including multiple IIM campuses.
It has 36 partner institutions, including IITs, IIMs, and global schools like the Swiss School of Management and the Rotman School of Management, University of Toronto.
Currently, the company offers 268 courses and programs.
Book-running lead managers: Nuvama Wealth Management, Motilal Oswal Investment Advisors, Systematics Corporate Services
Registrar: Bigshare Services
Anand Rathi IPO Subscribed 1.11 Times
The Rs 745 crore IPO of Anand Rathi Share and Stock Brokers Ltd., the brokerage arm of Anand Rathi Group, received 1.11 times subscription on the second day of bidding.
NSE data shows 1,48,34,376 shares were bid for against 1,33,63,342 shares offered.
Subscription details:
Non-institutional investors: 1.88 times
Retail individual investors (RII): 1.37 times
QIBs: 2%
The company announced raising over Rs 220 crore from anchor investors on Monday. The IPO price band is Rs 393–414 per share.
Fabtech Technologies IPO to Open Soon
Fabtech Technologies, an engineering solutions provider for pharma, biotech, and healthcare industries, will launch its IPO from September 29 to October 1.
IPO size: Over Rs 230 crore
Price band: Rs 181–191 per share
Fresh issue: 1.2 crore equity shares
The funds from the IPO will be used for:
Working capital requirements
Acquisitions
General corporate expenses
