Jaro Education Makes Successful ₹450 Crore IPO Debut
Jaro Institute of Technology Management and Research Limited (Jaro Education), a prominent player in the Indian Ed-Tech sector, has made its debut in the capital markets with a ₹450 crore initial public offering (IPO). The IPO, which was subscribed nearly 87% on the first day and closed with an oversubscription of more than 22 times overall, has been a significant event in the Indian Ed-Tech industry.
Founded in 2009, Jaro Education specializes in professional development and upskilling through online degree and certification programs. It operates an asset-light model, partnering with over 36 academic institutions both in India and globally. The company's revenues have seen a remarkable growth, tripling between FY22 and FY25. The IPO comprised a fresh issue of shares and an offer for sale by one of the promoters. AZB & Partners acted as legal counsel for Jaro Education, while a syndicate of book running lead managers, including Nuvama Wealth Management Limited, Motilal Oswal Investment Advisors Limited, and Systematix Corporate Services Limited, managed the issue. Trilegal advised the book running lead managers, led by Partner Richa Choudhary.
Grey market activity ahead of the listing indicated healthy premiums over the issue price, reflecting investors' confidence in Jaro Education's business model and growth prospects.
Jaro Education's successful IPO is a testament to the growing interest in the Indian Ed-Tech sector and the potential for online learning platforms. With its strong academic partnerships and robust financial performance, Jaro Education is well-positioned to continue its growth trajectory and create value for its shareholders.
