Jaro Institute and 3 Others Gear Up for IPO with SEBI: Big Moves in Capital and Share Offers

Jaro Institute of Technology Management and Research, along with three other companies—All Time Plastics Ltd, Scoda Tubes, and Dev Accelerator—have submitted initial public offering (IPO) paperwork to India’s market regulator, SEBI, to raise funds.

Jaro Institute’s IPO Details

Jaro Institute’s IPO aims to raise Rs 570 crore, which includes a fresh issue of shares worth Rs 170 crore and an offer for sale (OFS) of shares valued at Rs 400 crore by the company’s promoter, Sanjay Namdeo Salunkhe. This information comes from the Draft Red Herring Prospectus (DRHP) filed on Monday. The company may also consider raising Rs 34 crore through a pre-IPO placement, which would reduce the size of the fresh issue if completed.

Out of the Rs 170 crore fresh issue, Rs 81 crore will be used for marketing, branding, and advertising activities, while Rs 48 crore will go toward debt repayment and general corporate purposes.

All Time Plastics IPO

All Time Plastics, based in Mumbai, plans to raise funds through a combination of a fresh issue of shares worth Rs 350 crore and an OFS of 52.5 lakh shares from its promoters.

Scoda Tubes IPO

Scoda Tubes’ IPO is solely a fresh issue of shares worth Rs 275 crore.

Dev Accelerator IPO

Dev Accelerator is looking to raise funds through the fresh issue of 2.47 crore shares, without an OFS component.

All four companies plan to list their shares on the BSE and NSE.