Canara Robeco AMC IPO: Canara Robeco Asset Management Company Ltd made a strong debut on the stock exchanges on Wednesday, listing at Rs 280.25, roughly 5 per cent above its upper issue price of Rs 266 per share.
The IPO had earlier received an overwhelming response from investors, being subscribed nearly 10 times on the final day of bidding.
The IPO, valued at around Rs 1,326 crore, was a complete offer-for-sale (OFS), meaning the company itself did not raise any fresh funds.
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Instead, the proceeds from the sale went entirely to the selling shareholders, Canara Bank and ORIX Corporation Europe N.V. (formerly Robeco Groep N.V.). Canara Bank sold 2.59 crore shares, while ORIX sold 2.39 crore shares.
Canara Robeco Subscription Status
Among different investor categories, Qualified Institutional Buyers (QIBs) showed strong interest, subscribing 25.92 times to their portion.
The non-institutional investor quota was subscribed to 6.45 times, and the retail individual investor segment received 1.91 times subscription.
The IPO also saw Rs 398 crore mobilised from anchor investors, highlighting robust institutional confidence.
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Zee Business Managing Editor Anil Singhvi advised investors on their approach, saying “long-term investors can hold the stock to benefit from its growth potential, while short-term investors or those with lower risk appetite should consider placing a stop loss below Rs 266 to protect gains.”
Canara Robeco Company Profile
Canara Robeco is India’s second-oldest asset manager, originally floated by the state-owned Canara Bank in 1993 and later partnering with Robeco (now part of ORIX) in 2007.
The company primarily manages mutual funds and provides investment advisory services on Indian equities.
It operates in a competitive market alongside listed peers such as HDFC Asset Management Company, Nippon Life India Asset Management, and UTI Asset Management Company.
