Jaro Institute IPO Closes Today: Fully Subscribed with 11.91% Grey Market Premium
Jaro Institute's IPO is closing today, fully subscribed after initial muted response. The grey market premium of Rs 106 per share indicates a potential 11.91% listing gain. The IPO aims to raise Rs 450 crore, with a price band of Rs 846-890 per share. Share allotment is expected on September 26, with listing on BSE and NSE anticipated for September 30.
*this image is generated using AI for illustrative purposes only.
The Initial Public Offering (IPO) of Jaro Institute, an edtech company specializing in higher education solutions, is set to close today. The IPO has garnered significant attention in the market, with a notable grey market premium indicating potential investor interest.
Subscription Status
The Jaro Institute IPO, which opened for subscription earlier this week, has already been fully subscribed. After a muted response on Day 1 with 0.87 times subscription, the offering picked up pace and was fully subscribed by Day 2. This turnaround in investor interest suggests growing confidence in the company's prospects.
Grey Market Premium
As of the final day of the IPO, Jaro Institute is commanding a grey market premium (GMP) of Rs 106.00 per share. This premium indicates a potential listing price of Rs 996.00, representing an 11.91% increase over the upper price band of Rs 890.00. However, it's important to note that grey market premiums are unofficial and subject to change.
IPO Details
| Item | Value |
|---|---|
| Total IPO Size | Rs 450.00 crore |
| Fresh Issue | Rs 170.00 crore |
| Offer-for-Sale | Rs 280.00 crore |
| Price Band | Rs 846.00 - Rs 890.00 per share |
About Jaro Institute
Founded in 2009, Jaro Institute has established itself in the edtech sector, focusing on providing higher education solutions. The company's decision to go public marks a significant milestone in its growth trajectory.
Key Dates
| Event | Date |
|---|---|
| IPO Closing Date | Today |
| Share Allotment | September 26 |
| Listing Date | September 30 (expected) on both BSE and NSE |
Investor Outlook
The full subscription of the IPO, coupled with a positive grey market premium, suggests a favorable investor sentiment towards Jaro Institute. However, potential investors should conduct their own research and consider market risks before making investment decisions.
As the IPO closes today, all eyes will be on the final subscription figures and the upcoming share allotment process. The market will be keenly watching the official listing on September 30 to see if it aligns with the grey market expectations.
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