Jaro IPO Oversubscribed 2.16x Amid Strong Retail Demand

Jaro Institute of Technology Management and Research Limited’s IPO closed oversubscribed by 2.16 times, fueled by robust retail participation. The three-day offering attracted bids for 80.57 lakh shares against 37.23 lakh available, with retail investors leading at 2.21x oversubscription.

Non-institutional investors demonstrated even greater appetite, bidding 4.04 times their allotted shares. The segment saw particularly strong interest from investors committing ₹2-10 lakh, reaching 4.40x subscription. In contrast, qualified institutional buyers remained cautious, filling just 68% of their reserved portion.

Priced at ₹846-890 per share, the IPO represents a critical test for India’s education technology sector. Systematix Corporate Services leads the offering, with Nuvama Wealth Management and Motilal Oswal Investment Advisors supporting the transaction.