Jaro Institute of Technology Management & Research Limited

About the company

Established in 2009, Jaro Institute of Technology Management & Research is an online higher education and upskilling platform. The company has been one of the early movers in the online higher education and upskilling space and operates as an entirely bootstrapped institution. The company markets and facilitates delivery of a diversified range of online degree programs as well as cross-disciplinary certification courses, in partnership with 36 partner institutions, including 16 Tier-1 universities and institutions, which include 7 IIMs and 7 IITs and 15 Tier-2 universities and institutions as of March 31, 2025. The institute maintains a pan-India presence with 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 as of March 31, 2025. As of March 2025, partner institutions are spread across India with 12 in the western region, 7 in the northern region, 11 in the southern region and 2 in the eastern region. The company has also expanded its outreach to collaborate with four prestigious institutions internationally. The company derives revenue from its share of fees paid by learners undertaking degree programs and certification courses offered by partner institutions, which include application fees, tuition fees, study material and exam fees, and other fees, with varying percentages mutually agreed upon. In FY25, the revenue share ranged from 23% to 70% of the fees paid by learners undertaking the degree programs and certification courses offered by universities and institutions. It collects revenue through two modes: direct collection of fees from learners and invoicing by partner institutions or collection of fees by partner institutions, which are subsequently invoiced in the company's name. For FY25, ~80.56% of revenue from operations is derived from collaborations with Tier-2 universities, while the rest 19.04% is derived from collaborations with Tier-1 universities. As of March 2025, it offers 268 degree programs and certification courses across various domains and enrollments for degree programs and certification courses grew at a CAGR of 24.50% and 40.44% respectively, during FY22 to FY25. The top five partner institutions contributed 62.40% of revenue for FY25, have long-term relationships with the company, spanning up to 7 years. As of March 2025, it serves a diverse learner base with 44.14% of learners having 2+ years of work experience and 22.19% having 5+ years of work experience, who bring real-time industry challenges into the classroom. The Indian education system is one of the largest in the world, with more than 14.7 lakhs schools and ~25 crore students participating in modern K-12 education. The Indian education market is expected to reach a market value of ₹2,500,000 crore by FY28 at a CAGR of 11.4% from FY24 to FY28. The online higher education and upskilling sector in India is projected to reach a market size of ₹85,000 crore by FY28, at a CAGR of 22.2% from FY24 to FY28, driven by several factors, including increasing internet penetration, rising demand for online education, and the need for upskilling and reskilling in the wake of the COVID-19 pandemic. Online higher education and upskilling companies employ referral and earning options strategies as part of their outreach initiatives to expand their student enrollment. The student referral enrollment percentage of Jaro Education in the online higher education and upskilling sector is ~31.6% for FY25. Therefore, with the focus of providing flexible learning options in partnership with Indian and global institutes, Jaro Institute is well placed to capitalise on the potential of the online higher education and upskilling market in India. Now, Jaro Institute of Technology Management & Research Ltd is launching its initial public offering (IPO), which consists of a fresh issue of ₹170 crore and an offer for sale of ₹280 crore. The total issue size of the IPO is ₹450 crore. Its shares will be listed on the NSE and BSE.

Financial performance (₹ Cr)

Subscription breakup (final, times)

IPO Roadmap / Timeline

1. IPO Opens

   Completed
   23 Sept 2025

   Bidding starts for all investor categories

2. IPO Closes

   Completed
   25 Sept 2025

   Last day to place your bid

3. Basis of Allotment

   Completed
   26 Sept 2025

   Share allotment finalised

4. Refund Initiation

   Completed
   29 Sept 2025

   Refunds credited for non-allottees

5. Credit to Demat

   Completed
   29 Sept 2025

   Allotted shares credited to demat account

6. Listing on Exchange

   Completed
   30 Sept 2025

   Shares list on NSE / BSE

Post-close dates are indicative as per SEBI T+3 listing framework and may change per registrar updates.