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Anand Rathi Share & Stock Brokers Limited launched its Initial Public Offering (IPO) today, September 23, 2025, for public subscription. The issue will remain open till September 25, 2025. The allotment is likely to be finalised on Friday, September 26, 2025. The IPO will list on both the BSE and NSE, with a tentative listing date scheduled for Tuesday, September 30, 2025.
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JaroInstituteIPODay1:Subscription Status,GMP,Review&ListingDate • TheJaroInstituteIPOopenedforsubscriptiononSeptember23,2025,andtheresponseonDay1wascloselytrackedbymarketparticipants.Bytheafternoon,theIPOsubscriptionstatus stoodat0.44timesoverall,withhealthybuyinginterestfromnon-institutionalinvestors,while retailinvestorsalsochippedinwithmoderatedemand. • The₹450-croreIPOfromJaroInstituteofTechnologyManagement&Research,betterknown asJaroEducation,isoneofthemosttalked-aboutissuesthisweekaftertherecentbuzz aroundAtlantaElectricalsLimitedIPOGMP,GaneshConsumerProductsLimitedIPO,and SolarworldEnergySolutionsIPOGMP. • JaroInstituteIPOSubscriptionStatusDay1 • AsofSeptember23,12:50PM,theJaroIPOsaw44%overallsubscription.Breakingitdown: • Retailportion:0.33times • Non-InstitutionalInvestors(NII):1.29 times • QualifiedInstitutionalBuyers(QIB):yettoparticipate • ThisshowsthatHNI/NIIinvestorsaretakingearlybets,whileinstitutionaldemandmaypickup onlaterdays,asoftenseeninIPOs.Comparedtonew-ageofferingslikeSeshaasai TechnologiesIPOorPrimeCableIndustriesIPO GMP, Jaro’ssubscriptiononDay1reflects steadybutcautiousinvestorsentiment. • JaroInstituteIPOGMPSignalsHealthyListing • TheJaroInstituteIPOGMPistrendingaround₹122pershare,indicatingapossiblelistingnear • ₹1,012againsttheupperIPOpricebandof₹890.That’sapotentialpremiumof13.7%,inline withmarketexpectationsformid-sized IPOs. • MarketexpertshighlightthatwhileGMPsuggestsadecentdebut,itshouldnotbethesole factorininvestmentdecisions.SimilartohowinvestorstracktheAtlantaElectricalsIPOreviewandGMPupdates,Jaro’spremiumismoreofasentimentindicatorthanaguarantee. • JaroInstituteIPOPrice,LotSize&Date • JaroInstituteIPOPriceBand:₹846–₹890pershare
TotalIssueSize:₹450crore(₹170crorefreshissue+₹280croreOFS)TotalIssueSize:₹450crore(₹170crorefreshissue+₹280croreOFS) • JaroInstituteIPODate:OpensSeptember23,closesSeptember25,2025 • MinimumLotSize:16shares(₹13,536investmentatupperband) • JaroInstituteIPOListingDate:TentativelysetforSeptember30,2025,onboth BSE andNSE • Thenetproceedswillbeusedformarketing,brand-building,loanrepayments,andgeneral corporatepurposes. • JaroInstituteIPOReview:Fundamentals&Outlook • Foundedin2009,JaroInstituteofTechnologyManagement&ResearchLtdisaleadingedtech andhighereducationplayerinIndia.Itcollaborateswith36partnerinstitutions,includingIITs, IIMs,andtopglobaluniversities,offeringover268programsasofFY25. • InFY25,Jaroreportedrevenueof₹252.26crorewithanetprofitof₹51.67crore,showcasing stronggrowthintheonlineeducationspace.Thecompanyoperatesacross22citieswith • tech-enabledlearningcentresandimmersivestudiosinIIMcampuses. • Attheupperpriceband,theIPOisvaluedataP/Eof38.1xFY25earnings,whichmany analystsconsiderfullypriced.However,withanexpandingorderbookofpartnershipsanda growingupskillingmarket,brokerageslikeAnandRathihaverecommendeda‘SubscribeLong Term’rating. • WhatInvestorsShouldWatchFor • WiththeDay1subscriptionalreadyshowingstrongNIIinterestandtheJaroInstituteIPOGMP pointingtowardsdouble-digitlistinggains,theissuecouldseemomentumbuildingasQIBsstep inclosertotheclosingday. • ThebigquestionforinvestorsiswhethertheJaroInstitutesharepricecansustainbeyondlistingorwhetheritwillfollowthetrendofIPOslikeGaneshConsumerIPOGMPandSeshaasai TechnologiesLimitedIPO,whichsawsharpinitialpremiumsbutmixedpost-listingmoves. • Fornow,theJaroInstituteIPOreviewsuggestsmoderatelistinggainsareonthetable,butthe truetestwillbeinitsabilitytodeliversustainablegrowthinIndia’shighlycompetitiveonline educationmarket.