Canara Bank to dilute 13% stake in Canara Robeco Asset Management through IPO

Canara Robeco Asset Management Company IPO plan approves by Canara Bank

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26 Aug, 2025 12:21

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Canara Bank plans to sell off 13 percent equity shares in Canara Robeco Asset Management Company (CRAMC) by taking the mutual fund subsidiary public.

The public sector lender in a filing to exchanges said it has given the approval to kick off the process for diluting 13 percent stake through an initial public offering (IPO).

The proposed IPO, however, remains subject to approval from the Reserve Bank of India and the department of financial services under the ministry of finance, Government of India, it added.

Canara Bank had in last December given in-principle approval to start the process of listing its mutual fund subsidiary by way of an initial share sale.

Canara Robeco Asset Management Company will be the fifth listed mutual fund house if it gets listed on the bourses. HDFC Asset Management Company, UTI Asset Management Company, Aditya Birla Sun Life AMC, and Nippon Life India Asset Management are the four listed competitors now.

Canara Robeco Mutual Fund is the second oldest mutual fund in India, operating since December 1987 as Canbank Mutual Fund. It was rechristened after Canara Bank partnered with Robeco, a part of ORIX Corporation (Japan) in 2007.