Jaro Education shares make disappointing market debut; end over 16 pc lower

New Delhi, Sep 30 (PTI) Shares of Jaro Institute of Technology Management and Research Ltd (Jaro Education) made a disappointing market debut on Tuesday and ended the day over 16 per cent lower against the issue price of Rs 890.

On both the BSE and the NSE, the stock was listed at par with an issue price of Rs 890.

Later in the trade, the stock tanked 19.32 per cent to Rs 718 on the BSE. It ended at Rs 745.05 apiece, recording a sharp fall of 16.28 per cent.

On the NSE, the stock ended at Rs 744.25, a discount of 16.37 per cent.

The company's market valuation stood at Rs 1,650.75 crore.

The initial public offering (IPO) of Jaro Education garnered 22.06 times subscription on the closing day of bidding on Thursday last week.

The Rs 450-crore IPO had a price band of Rs 846-890 per share.

The company's IPO had a fresh issue of shares worth Rs 170 crore and an offer for sale of shares valued at Rs 280 crore by promoter Sanjay Namdeo Salunkhe.

Of the fresh issuance, Rs 81 crore has been earmarked for marketing, brand building and advertising activities, Rs 45 crore for payment of debt and the rest for general corporate purposes.

Founded in 2009 by Salunkhe, Jaro Education offers degree programmes and certification programmes in collaboration with its partner institutions.

As of March 2025, it has over 22 offices-cum-learning centres across major cities for offline learning, apart from 17 immersive tech studio set-ups in the campuses of various IIMs, and caters to a total of 36 partner institutions such as IITs, IIMs and premier global institutions like Swiss School of Management and Rotman School of Management, University of Toronto. It offers 268 course offerings and programmes in diverse domains. PTI SUM SUM SHW