Jaro Institute IPO Listing Today: A Comprehensive Guide
The Indian stock market is abuzz with the news of Jaro Institute of Technology Management & Research’s impending listing on the BSE and NSE. The company’s IPO, which was oversubscribed 22.06 times, is set to make its market debut today. In this article, we will provide you with all the latest updates on the Jaro Institute IPO, including the latest grey market premium (GMP), share price, and more.
What is the Latest GMP for Jaro Institute IPO?
Ahead of its listing on Tuesday, the unlisted shares of the company have been in the spotlight after the latest grey market premium (GMP) suggested a positive listing for the Mumbai-based higher education and upskilling platform. The GMP for the Jaro Institute of Technology Management & Research IPO was Rs 43 as of 8:30 a.m. on September 30. This indicates a listing price of Rs 933 per share at a premium of 4.83% on the upper limit of the price band.
What Does the GMP Indicate?
The GMP is an unofficial indicator of the market sentiment towards the IPO. It is based on the demand and supply of the shares in the grey market. A positive GMP indicates that the market is expecting a strong listing for the company. In this case, the GMP of Rs 43 suggests that the shares of Jaro Institute are likely to list at a premium of around 5%.
What is the Share Price of Jaro Institute?
The share price of Jaro Institute is expected to be around Rs 933, which is the upper limit of the price band. The company had fixed the price band for its IPO between Rs 846 and Rs 890 per share.
What are the Key Details of the Jaro Institute IPO?
The Jaro Institute IPO is a book build issue of Rs 450 crore. It comprises a fresh issue of 19 lakh shares, amounting to Rs 170 crore, and an offer-for-sale (OFS) of 31 lakh shares, worth Rs 280 crore. The lot size for an application was 16, and the minimum amount of investment required by a retail investor was Rs 14,240.
Who are the Book Running Lead Managers and Registrars of the Issue?
Nuvama Wealth Management Ltd. is the book-running lead manager, and Bigshare Services Pvt.Ltd is the registrar of the issue.
What are the Uses of Proceeds from the IPO?
Of the fresh issue proceeds, the company will deploy Rs 81 crore for marketing, brand building, and advertising activities, and Rs 45 crore for prepayment or scheduled re-payment of a portion of certain outstanding borrowings availed by the company.
About Jaro Institute
Jaro Institute is an edtech company that offers higher education solutions. It was founded in 2009. The company provides a range of courses and programs in the fields of technology, management, and research.
Investment Risks
Investments in initial public offerings are subject to market risks. Please consult with financial advisors and read the red herring prospectus thoroughly before placing bids.
Conclusion
The Jaro Institute IPO is set to make its market debut today, and the latest GMP suggests a positive listing for the company. However, it is essential to remember that the GMP is an unofficial indicator and should not be considered as investment advice. Investors should do their own research and consult with financial advisors before making any investment decisions.
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