Investors are snapping up shares in Jaro Education’s initial public offering, with the IPO fully subscribed on just its second day. The Mumbai-based company, known for its online higher education and upskilling programs, launched the IPO this week and expects to wrap up on September 25, with shares listing on stock exchanges around September 30, 2025.
Demand has been strong, especially from big-name institutional investors, creating plenty of excitement in the market. The IPO includes a fresh issue of 170 crore rupees to fuel growth and an offer for sale worth 280 crore rupees from promoter Sanjay Namdeo Salunkhe. Shares are priced between 846 and 890 rupees each.
Before the public launch, Jaro Education already raised 135 crore rupees from top players like WhiteOak Capital, Madhu Kela’s Singularity, Sunil Singhania’s Abakkus, Citi Global, 360 One, Societe Generale, LC Pharos, and Nomura. Other notable backers include Utpal Sheth, Deven Choksey, Subhkam Ventures, and the Polycab promoters’ family office.
The fresh funds will go toward boosting marketing and brand building with 81 crore rupees, paying off 45 crore rupees in debt, and handling other general corporate needs. This comes as Jaro Education shows impressive financial momentum. In fiscal year 2025, the company posted net revenue of 254.02 crore rupees and profit after tax of 51.67 crore rupees—a huge jump from just 12 crore rupees in profit the previous year, marking 343 percent growth.
Profit margins have more than doubled too, climbing from 9 percent to 20 percent. Return on equity and return on capital employed both top 35 percent. Student admissions tell a similar success story, surging 46 percent from 21,579 in FY23 to 31,434 in FY25.
As a bootstrapped venture, Jaro Education has stayed profitable for 15 straight years, growing through its own resources without outside funding until now. It stands out as one of India’s pioneers in online higher education and professional upskilling. For FY25, the company also announced a 10 percent dividend on its 10-rupee face value shares.
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