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Jaro Education file draft papers to raise Rs 570 crore via IPO

Money Control · 1m

- Jaro Education, an online higher education and upskilling company, has filed to raise Rs 570 crore through an IPO. - The IPO includes a fresh issuance of equity shares worth Rs 170 crore and an offer-for-sale of shares worth Rs 400 crore by the promoter. - The company plans to allocate funds from the IPO for marketing and brand building, debt repayment, and general corporate purposes. - Jaro Education operates in collaboration with several partner institutions, including IITs, IIMs, and global institutions such as the Swiss School of Management and the Rotman School of Management. - The company demonstrated strong financial performance with a net profit growth of 233% YoY and a revenue increase of 63% for the fiscal year ending March 2024. - Nuvama Wealth Management, Motilal Oswal Investment Advisors, and Systematix Corporate Services are appointed as the merchant bankers for the IPO.