Jaro Institute of Technology Management and Research Limited, a prominent player in the e-learning sector, has reported no utilization of its Initial Public Offering (IPO) proceeds for the quarter ending September 30, 2025, according to the monitoring agency report issued by Crisil Ratings Limited.

IPO Details and Fund Allocation

The company successfully raised Rs 1,700 million through its IPO, which was held from September 22-25, 2025. The funds were earmarked for specific purposes as follows:

Unutilized Funds

As of September 30, 2025, the entire IPO proceeds remain unutilized. The monitoring agency report confirms that the total balance of Rs 4,323.18 million is currently held in the public issue account. This amount includes:

• Rs 1,700 million from the fresh issue
• Rs 2,623.18 million from the offer for sale (OFS)

Compliance and Transparency

The monitoring agency report, prepared in accordance with SEBI regulations, indicates no deviation from the stated objectives of the IPO. Crisil Ratings Limited, acting as the monitoring agency, has confirmed that all proceeds remain unutilized during the reporting period.

Management's Stance

The report does not provide specific reasons for the non-utilization of funds. It's worth noting that companies often take time to deploy IPO proceeds strategically. The management of Jaro Institute has not commented on the status of fund utilization.

Investor Implications

For investors, this report provides transparency on the current status of the IPO proceeds. The non-utilization might raise questions about the company's immediate plans and execution timeline.

Future Outlook

Stakeholders will be watching how Jaro Institute plans to utilize these funds in the coming quarters. The effective use of these resources, particularly in marketing and brand building activities, could play a crucial role in the company's growth strategy in the e-learning sector.

Investors and market analysts will likely look forward to further updates from the company regarding its plans for fund utilization and strategic initiatives in the e-learning space.

Jaro Institute of Technology Management and Research Limited (NSE: JARO) has reported a robust performance in Q2, with significant growth in revenue and profitability. The company has also made strides in expanding its academic collaborations and implementing innovative technological solutions.

Financial Highlights

Jaro Education demonstrated strong financial performance in Q2:

For H1, the company reported:

Operational Highlights and Strategic Initiatives

Technology and AI Integration

• Implemented an AI-driven bot system to enhance lead generation and conversion
• Developing a voice-based AI tool to support counsellors in conversions
• Introduced an Agentic AI System for automated lead filtration and counsellor scheduling
• Implemented personalized adaptive learning journeys for enhanced student engagement

Expansion and Partnerships

• Opened new branches in Kolkata, Indore, and Nagpur
• Established academic collaborations with prestigious institutions including IIT Bombay and Delhi Technological University
• Launched premium programs such as IIM Mumbai Executive MBA and IIT Delhi PG Diploma in Electric Vehicle Technology
• Formed corporate partnerships with organizations having a collective employee strength of 7 lakh, including HDFC Bank and HCL Technology

New Verticals and Partnerships

• Launched CollegeConnect, partnering with IIT Roorkee for skill-based programs
• Introduced SchoolConnect, collaborating with IIT Madras Pravartak for school-level programs
• Partnered with Jio to integrate learning content for Jio Set-Top Box users, enrolling over 652 learners

Performance Metrics

Future Outlook

Jaro Education plans to add 250-350 employees in H2 FY26 and projects approximately 30% growth in overall revenue and profitability during FY26. The company aims to continue its focus on delivering consistent and sustainable growth through academic partnerships, technological innovation, and brand development.

Dr. Sanjay Salunkhe, MD of Jaro Education, commented, "We remain focused on delivering consistent and sustainable growth through a strong combination of academic partnerships, technological innovation, and brand development. The investments made in AI systems, employee productivity, and marketing initiatives are already showing positive traction and are expected to yield stronger profitability in the coming quarters."

With its strategic initiatives and technological advancements, Jaro Education appears well-positioned to capitalize on the growing demand for quality education and upskilling programs in India.