Jaro Education Set for Blockbuster Rs 450 Cr IPO Launch

Jaro Institute of Technology Management and Research, commonly known as Jaro Education, is gearing up for a significant financial event as it launches its Initial Public Offering (IPO) to raise Rs 450 crore.

The IPO, which opens on September 23 and closes on September 25, features a price band of Rs 846 to Rs 890 per share. It comprises a fresh issue of shares worth Rs 170 crore and an Offer for Sale by promoter Sanjay Namdeo Salunkhe, accounting for Rs 280 crore.

The funds raised will be allocated with Rs 81 crore for marketing and brand promotion, Rs 45 crore for debt repayment, and the remainder for general corporate purposes. Founded in 2009, Jaro Education collaborates with prestigious institutions worldwide and operates 22 learning centers across major cities while managing immersive tech setups on various campuses.

(With inputs from agencies.)