Jaro Institute Unveils Rs 450-Crore IPO with Price Band of Rs 846-890
Jaro Institute Ltd., an online higher education company, has announced its IPO to raise Rs 450.00 crore. The offering includes a fresh issue of Rs 170.00 crore and an offer for sale of Rs 280.00 crore. The price band is set at Rs 846-890 per share, with a lot size of 16 shares. Bidding opens on September 23 and closes on September 25, with listing scheduled for September 30 on BSE and NSE. Funds will be used for marketing, advertising, and debt repayment. Jaro Institute operates across India with over 22 offices, 17 tech studios, and partnerships with 34 educational institutions.
*this image is generated using AI for illustrative purposes only.
Jaro Institute Ltd., a prominent player in the online higher education sector, has announced its Initial Public Offering (IPO) with a price band set at Rs 846-890 per share. The company aims to raise Rs 450.00 crore through this public offering, marking a significant milestone in its growth journey.
IPO Structure and Timeline
The IPO is structured as a combination of fresh issue and offer for sale:
| Component | Amount (in crore) |
|---|---|
| Fresh issue | Rs 170.00 |
| Offer for sale | Rs 280.00 |
Key dates for investors to note:
- Bidding opens: September 23
- Bidding closes: September 25
- Share allotment: September 26
- Listing on BSE and NSE: September 30
Retail investors can participate with a minimum investment of Rs 14,240, based on a lot size of 16 shares.
About Jaro Institute
Jaro Institute operates as an online higher education company with a significant presence across India:
- Over 22 offices in major cities
- 17 tech studios located in IIM campuses
- Partnerships with 34 educational institutions
This extensive network underscores the company's commitment to providing accessible and quality education through digital platforms.
Utilization of Funds
The company has outlined clear plans for the utilization of the fresh issue proceeds:
| Purpose | Amount (in crore) |
|---|---|
| Marketing and advertising | Rs 81.00 |
| Debt repayment | Rs 45.00 |
These allocations suggest a strategic focus on expanding market reach while simultaneously strengthening the company's financial position.
Market Impact
The entry of Jaro Institute into the public market could potentially influence the ed-tech sector in India. As an established player in online higher education, the company's IPO may attract attention from investors interested in the growing digital education landscape.
Investors and market watchers will be keenly observing the response to this IPO, as it could provide insights into the market's appetite for ed-tech companies in the post-pandemic era.
Note: Potential investors are advised to review the company's prospectus and consult with financial advisors before making investment decisions.
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