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1h ago

Jaro Education Raises Rs 135 Crore From Anchor Investors Ahead of IPO Opening

Institutional participation at the upper band signals confidence ahead of Tuesday’s opening.

Jaro Institute IPO GMP Today
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Overview

  • The company allotted about 15.16–15.17 lakh shares at Rs 890 each to 19 anchor investors.
  • Participants included Citigroup Global Markets Mauritius, Nomura Singapore, Societe Generale and 360 One, with domestic mutual funds WhiteOak Capital and ITI taking 23.33% of the anchor portion.
  • Top anchor allocations went to 360 One Equity Opportunity Fund (11.11%), Societe Generale (9.63%) and LC Pharos Multi Strategy Fund (8.15%).
  • The Rs 450 crore IPO comprises a Rs 170 crore fresh issue and a Rs 280 crore offer for sale, with a price band of Rs 846–890; subscriptions run Sept. 23–25, allotment is Sept. 26 and listing is slated for Sept. 30 on the BSE and NSE.
  • Proceeds earmark Rs 81 crore for marketing and brand building and Rs 45 crore for debt repayment, while broker analyses highlight premium valuation and dependence on partner institutions as key risks.