Nuvama Contribution:

• Adding to our strong track record of bringing several 1st business stories to the Indian capital markets, Nuvama successfully leads the 1st IPO of a Higher Education and Upskilling Platform Company in India
• As the Left-Lead banker, Nuvama handheld the Company through every stage of the IPO, providing guidance and end-to-end support to ensure smooth and successful closure
• Nuvama successfully mobilized interest from a diverse investor base, including FIIs and Domestic Institutions, and secured the largest bid in the anchor
• Pushed the story aggressively through our distribution channel to garner strong interest in HNI & Retail category resulting in 9.5 lakh+ applications^#

Company & Deal Details:

• Jaro Education is one of India’s online higher education and upskilling platform companies
• Deal saw strong participation across investor categories garnering a total subscription of ~16.64x^#
  • QIB: ~37.05x^#, HNI: ~37.53x^#, Retail: ~9.19x^#

“We would like to express our heartfelt appreciation for the exceptional role Nuvama played in successfully steering our IPO journey. Nuvama’s, deep expertise and nuanced understanding of the education industry were instrumental in effectively positioning Jaro Education with investors. Nuvama’s ability to anticipate issues, think several steps ahead, provide pragmatic and timely solutions gave us confidence at every stage of the process. You all went far beyond the conventional role of an advisor, becoming a true reliable partner in our journey. Nuvama’s commitment, hustle across all levels, and willingness to go the extra mile are qualities we highly value and would highly recommend Nuvama’s services to other Corporates.”

Sanjay Salunkhe, Chairman & MD

^{# Before Technical Rejections}