Canara Robeco Asset Management Company’s initial public offering (IPO) was highly successful, receiving nearly 10 times subscription overall. The offer for sale (OFS) of 4.99 crore shares, valued at ₹1,326.13 crore, opened on October 9 and closed on October 13, with share allotment completed on October 14.
The shares are set to list on the NSE and BSE on October 16. According to grey market trends, the stock is expected to debut at a slight premium, with a grey market premium (GMP) of ₹11 suggesting a listing price around ₹277—about 4% above the issue price of ₹266.
The IPO was an OFS by promoters Canara Bank and ORIX Corporation Europe N.V., who sold 2.59 crore and 2.39 crore shares respectively. MUFG Intime India Private Ltd served as registrar, while SBI Capital Markets, Axis Capital, and JM Financial acted as lead managers.
Canara Robeco, India’s second-oldest asset management company, specializes in mutual fund management and investment advisory for Robeco Hong Kong. Its revenue grew from ₹204.6 crore in FY23 to ₹403.7 crore in FY25.
