Subscribe for Jaro Institute of Technology Management and Research Ltd IPO; Anand Rathi

Anand Rathi, Jaro Institute of Technology Management and Research Ltd

Jaro Institute of Technology Management & Research Ltd is one of India’s online higher education and upskilling platform companies. Company market and facilitate delivery of a diversified range of online degree programs including D.B.A, MBA, M.Com., M.A., PGDM, M.C.A., M.Sc., B.Com., BCA, as well as cross-disciplinary certification courses, in partnership with 36 Partner Institutions, including 16 Tier-1 universities and institutions (which include 7 IIMs and 7 IITs) and 15 Tier-2 universities and institutions as of March 31, 2025. Since the establishment of their business in 2009 by Sanjay Namdeo Salunkhe, a first-generation entrepreneur and their Chairman and Managing Director with over 17 years of experience in the education sector, company have been one of the early movers in the online higher education and upskilling space. Despite being an entirely bootstrapped institution, they have achieved strong EBIDTA due to 16 years of in-depth understanding of the online higher education and upskilling sector.

Valuation and Outlook

At the upper price band company is valuing at P/E of 38.1x to its FY25 earnings, with EV/EBITDA of 24.8x and market cap of ₹ 19,719 million post issue of equity shares. We believe that the IPO is fully priced and recommend a “SubscribeLong Term” rating to the IPO.

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Jaro Institute - 230925 - anand