Jaro Education IPO Surpasses Expectations with 22.06 Times Subscription
The IPO of Jaro Institute of Technology Management and Research Ltd exceeded expectations with a 22.06 times subscription. The Rs 450-crore offering saw significant interest from non-institutional and institutional buyers. Proceeds will fund marketing, debt payments, and corporate needs. Jaro Education collaborates with prestigious institutions globally.
- Country:
- India
The initial public offering (IPO) of Jaro Institute of Technology Management and Research Ltd, popularly known as Jaro Education, made a significant mark by securing 22.06 times the subscription on its closing day.
According to National Stock Exchange (NSE) data, the Rs 450-crore IPO attracted bids for 8,21,31,312 shares against 37,23,404 on offer, showcasing strong interest from both non-institutional and institutional investors.
The funds raised will support marketing, debt repayment, and general corporate purposes. Jaro Education, established in 2009 by Sanjay Namdeo Salunkhe, collaborates with premier global and Indian institutions to offer a diverse array of programs.
(With inputs from agencies.)
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