Jaro Education files draft papers with Sebi to mobilise Rs 570 crore via IPO
Sebi for an initial public offering of Rs 570 crore, a statement said on Monday. The initial public offering (IPO) comprises a fresh issue of shares worth up to Rs 170 crore and an Offer for Sale (OFS) of shares worth up to Rs 400 crore, Jaro Education said in the statement.
Promoter Sanjay Namdeo Salunkhe is selling equity shares worth Rs 400 crore through the OFS route.
Promoters and promoter group entities hold a 85.03 per cent stake in the company while public shareholders hold the rest 14.97 per cent stake.
Salunkhe holds a majority 78.2 per cent stake in the company, according to the draft red herring prospectus (DRHP).
The company, in consultation with the book-running lead managers, may consider a pre-IPO placement, aggregating up to Rs 34 crore.
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