Jaro Institute IPO Subscribed 0.92x on Day 1, NII Segment Shows Robust Interest

Mumbai, September 23, 2025 – The ₹450 crore IPO of Jaro Institute of Technology Management and Research Limited IPO (Jaro Education), which opened for subscription today, saw good participation of Non-Institutional Investors (NIIs) on Day 1, while Qualified Institutional Buyers (QIBs) and retail investors remained weak in their response.

Subscription Status (as of September 23, 2025, 5:04 PM)

The IPO of Jaro Institute was subscribed 0.92 times on the opening day of bidding, September 23, 2025, up to 5:04 PM. The subscription was mixed across categories of investors, with higher interest in the Non-Institutional Investor (NII) segment, and retail and Qualified Institutional Buyers (QIBs) demonstrated moderate subscription.

Anchor Investors subscribed to their quota in full, subscribing to 15.16 lakh shares, contributing about ₹135 crore. The QIB (excluding anchors) segment, however, witnessed fairly weak demand at only 0.49 times, with bids for 4.96 lakh shares against offered 10.11 lakh shares worth ₹44.17 crore.

The NII segment showed strong interest, getting subscribed 1.91 times. In this, the bNII (applications of over ₹10 lakh) segment exceeded demand at 2.37 times, bidding for almost 11.98 lakh shares against 5.05 lakh offered, while the sNII (applications of up to ₹10 lakh) segment witnessed equal subscription of 1.00 times, with bids for 2.53 lakh shares.

Retail Investors subscribed 0.73 times, bidding for 12.95 lakh shares out of the 17.69 lakh available, worth approximately ₹115.27 crore. In total, against the entire offer size of 35.39 lakh shares, bids were made for 32.44 lakh shares, mobilising almost ₹288.69 crore on Day 1. The IPO also received 72,384 applications.

IPO Details Recap

IPO is available between ₹846 and ₹890 per share with a minimum lot size of 16 shares at an investment of ₹14,240 at the upper end. The issue consists of a fresh issue of ₹170 crore, along with an offer for sale of ₹280 crore by promoter Sanjay Namdeo Salunkhe. The company’s shares are scheduled to be listed on September 30, 2025.

Outlook

With strong NII demand on Day 1 and retail investors typically coming in strongly on the closing day, overall subscription levels are likely to pick up. QIB participation on Day 3 will play a key role in guiding the final oversubscription numbers.

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