The initial public offer of Jaro Institute of Technology Management and Research Ltd (Jaro Education) received 87 per cent subscription on the first day of share sale on Tuesday.
The company’s IPO got bids for 32,41,168 shares against 37,23,404 shares on offer, according to details available with the NSE.
The quota for non-institutional investors garnered 1.82 times subscription. Retail Individual Investors (RIIs) portion got subscribed 69 per cent, and that of Qualified Institutional Buyers (QIBs) 47 per cent.
Jaro Institute of Technology Management and Research on Monday said it mopped up Rs 135 crore from anchor investors.
The issue, with a price band of Rs 846 to Rs 890 per share, will conclude on September 25.
The company’s IPO has a fresh issue of shares worth Rs 170 crore and an Offer for Sale (OFS) of shares valued at Rs 280 crore by promoter Sanjay Namdeo Salunkhe.
Of the fresh issuance, Rs 81 crore has been earmarked for marketing, brand building and advertising activit
