Jaro Institute of Technology Management and Research Limited’s has been oversubscribed 2.16 times as of Thursday morning, the final day of the three-day subscription period ending a today.
The IPO received bids for 80.57 lakh shares against the offered 37.23 lakh shares, with retail individual investors (RIIs) showing the strongest response at 2.21 times oversubscription. The retail category attracted bids for 41.16 lakh shares against the reserved 18.61 lakh shares.
Non-institutional investors emerged as the most enthusiastic category, oversubscribing their portion by 4.04 times with bids totaling 32.20 lakh shares against the allocated 7.97 lakh shares. Within this segment, investors bidding between ₹2-10 lakh showed particularly strong interest at 4.40 times oversubscription.
However, qualified institutional buyers (QIBs) remained lukewarm, subscribing only 0.68 times their allocated portion. The QIB category received bids for 7.19 lakh shares against the reserved 10.63 lakh shares, with foreign institutional investors contributing 3.71 lakh shares to the total bids.
The IPO, priced between ₹846-890 per share, aims to raise funds through the issuance of 37.23 lakh equity shares with a face value of ₹10 each. Systematix Corporate Services Limited is the book running lead manager, with Nuvama Wealth Management Limited and Motilal Oswal Investment Advisors Limited serving as co-managers.