Canara Robeco Asset Management Company, which is owned by the Canara Bank, and ORIX Corporation Europe, on October 8 has raised Rs 397.8 crore from 25 anchor investors ahead of its IPO launch for public.
The asset management company is raising Rs 1,326.13 crore via initial public offering (IPO) at the upper price band, which consists of entirely offer-for-sale of 4.98 crore shares by both promoters.
The price band for the offer, which opens for public subscription during October 9-13, is Rs 253-266 per share.
The Canara Bank subsidiary has finalised allocation of 1.49 crore equity shares to anchor investors at Rs 266 per share.
Of which, the domestic mutual funds picked 76.73 percent portion (1.14 crore shares) through their 18 schemes including SBI Mutual Fund, ICICI Prudential MF, Nippon Life India, Kotak Mahindra AMC, Axis MF, DSP MF, Mirae Asset, HSBC, Motilal Oswal AMC, and Franklin India.
Click Here To Read All IPO News
Other investors like Pinebridge Global Funds, IIFL Asset Management, Bajaj Allianz Life Insurance, Aditya Birla Sun Life Insurance, Kotak Mahindra Life, and Steinberg India Emerging Opportunities Fund also participated in the anchor book.
Canara Robeco Asset Management Company will not receive any money through its public issue as all the funds, excluding offer expenses, will go to selling shareholders.
The country's second oldest AMC manages mutual funds and provides investment advice on Indian equities to Robeco Hong Kong. It managed 26 schemes including 12 equity and 10 debt schemes with a quarterly average asset under management (QAAUM) of Rs 1.11 lakh crore as of June 2025.
The IPO share allotment will be finalised by October 14, while Canara Robeco will make its market debut on October 16. SBI Capital Markets, Axis Capital, and JM Financial are acting as the merchant bankers for the Canara Robeco AMC IPO.
Discover the latest Business News, Sensex, and Nifty updates. Obtain Personal Finance insights, tax queries, and expert opinions on Moneycontrol or download the Moneycontrol App to stay updated!
Find the best of Al News in one place, specially curated for you every weekend.
Stay on top of the latest tech trends and biggest startup news.
