Jaro Education's IPO Set to Redefine Ed-Tech Investment Landscape

Jaro Education announced it has raised Rs 135 crore from anchor investors in advance of its initial public offering (IPO). Anchor investors include Citigroup Global Markets Mauritius, Nomura Singapore, Societe Generale, 360 ONE fund, WhiteOak Capital Mutual Fund, and ITI Mutual Fund.

The brokerage firm allocated 15.16 lakh equity shares to 19 funds at Rs 890 per share. The IPO spans a price range of Rs 846 to Rs 890 per share and will be open from September 23 to 25. It comprises a new issue of Rs 170 crore and an Offer for Sale valued at Rs 280 crore by founder and promoter Sanjay Namdeo Salunkhe.

Funds raised will support marketing, debt repayment, and other corporate needs. Established in 2009, Jaro Education partners with 36 institutions and offers 268 program options. Leading managers for the IPO include Nuvama Wealth Management, Motilal Oswal Investment Advisors, and Systematix Corporate Services, with Bigshare Services as the registrar.

(With inputs from agencies.)