Jaro Institute of Technology Management and Research IPO
Jaro Institute of Technology Management and Research Limited (JARO) · mainboard IPO on NSE and BSE · 100% Book Building. Listed on 30 September 2025.
Issue details
Listing day
Back-tested estimate (from a model that had only seen earlier years' IPOs): listing gain +5.5% (likely range -8% to +12%), day's high +9.9%, chance of a gain 50%. Actual: 0.0% at the open, 0.0% at the high.
Subscription status
| Category | Shares offered | Shares bid for | Subscribed | |
|---|---|---|---|---|
| QIB (institutions) | 10,63,829 | 3,76,10,352 | 35.4x | |
| NII (HNI) total | 7,97,873 | 2,83,06,272 | 35.5x | |
| Big NII (above ₹10 lakh) | 5,31,916 | 1,79,96,512 | 33.8x | |
| Small NII (₹2-10 lakh) | 2,65,957 | 1,03,09,760 | 38.8x | |
| Retail | 18,61,702 | 1,62,14,688 | 8.71x | |
| Total | 37,23,404 | 8,21,31,312 | 22.1x |
Bids on NSE and BSE together, as published by NSE, as of 25 Sep 2025, 07:00 PM. Shares offered exclude the anchor portion. 16% of all shares bid for were at the cut-off price.
Past IPOs with similar demand
Earlier mainboard IPOs whose QIB, NII and retail subscription and size were closest to Jaro Institute of Technology Management and Research's, and how they listed.
| IPO | QIB | NII | Retail | Total | Size | Listing gain | Day high |
|---|---|---|---|---|---|---|---|
| IRM ENERGY LIMITEDOct 2023 | 44.7x | 48.3x | 9.29x | 27.1x | ₹545 Cr | -5.5% | -4.2% |
| Jana Small Finance BankFeb 2024 | 38.7x | 25.1x | 5.46x | 18.5x | ₹590 Cr | -4.3% | -1.2% |
| EPACK DurableJan 2024 | 25.5x | 28.1x | 6.29x | 16.4x | ₹652 Cr | -3.9% | -2.4% |
| Gem AromaticsAug 2025 | 55.3x | 45.1x | 10.3x | 30.3x | ₹450 Cr | +2.5% | +7.6% |
| India PesticidesJun 2021 | 42.9x | 51.9x | 11.3x | 29.0x | ₹817 Cr | +18.2% | +24.3% |
| Sambhv Steel TubesJun 2025 | 62.3x | 31.8x | 7.99x | 28.5x | ₹575 Cr | +34.1% | +35.4% |
Lead managers and their listing record
| Book running lead manager | Mainboard IPOs since 2019 | Avg listing gain | Listed at a premium |
|---|---|---|---|
| Nuvama Wealth Management | 35 | +11.9% | 66% |
| Motilal Oswal Investment Advisors | 47 | +15.0% | 72% |
| Systematix Corporate Services | 11 | +11.4% | 45% |
Offer documents (NSE)
Frequently asked
What is the Jaro Institute of Technology Management and Research IPO price band and lot size? ₹846–890 per share, with a lot of 16 shares, so the smallest retail bid is ₹14,240.
How many times has it been subscribed? 22.1x overall: QIB 35.4x, NII 35.5x, retail 8.71x.
How did it list? It opened at ₹890, +0.0% against the issue price of ₹890, and closed its first day -16.4%.
