Canara AMC IPO opens today; market lot set at 56 shares

Canara Robeco Asset Management Company has launched an initial public offering worth Rs 1,326 crore, which is open from today until October 13.
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Canara Robeco Asset Management Company’s Rs 1,326 crore initial public offering (IPO) opens today for the public and concludes on October 13. The firm has set a price band of Rs 253 to Rs 266 per share for the IPO. The lot size is 56 shares.

The IPO is a completely an offer for sale (OFS) of 4.98 crore equity shares with no fresh issue component. Under the OFS, promoters — Canara Bank and ORIX Corporation Europe N.V. (previously known as Robeco Groep N.V.) — will offload 2.59 crore shares and 2.39 crore shares, respectively. In terms of issue allocation, 50 per cent of the IPO is reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors, and the remaining 15 per cent for non-institutional investors.

Canara Bank owns 51 per cent stake in Canara Robeco while Orix Corporation holding has the remaining stake in the AMC.

Since the IPO is entirely an OFS, the company will not receive any funds from the public issue, and the proceeds will go to the selling shareholders.

The AMC has mobilised Rs 398 crore from anchor investors, as part of the IPO.

The anchor book received participation from institutional investors including SBI Mutual Funds (MF), ICICI Prudential MF, Nippon India MF, Kotak Mahindra MF, Franklin India MF, HSBC MF, Motilal Oswal MF, PineBridge Global Funds, Kotak Mahindra Life Insurance, Aditya Birla Sun Life Insurance, and Bajaj Allianz Life Insurance, according to a circular uploaded on BSE’s website.

Canara Robeco has allotted 1.49 crore equity shares to 25 funds at Rs 266 per share,

Canara Robeco’s primary activities include managing mutual funds and providing investment advice on Indian equities. It is the country’s second-oldest asset manager. The state-run lender had floated the company in 1993, partnering with Robeco, now part of Orix, in 2007.

Canara Robeco operates in a competitive space alongside listed players such as HDFC Asset Management Company, Nippon Life India Asset Management, and UTI Asset Management Company.

Shares of Canara Robeco are expected to list on the bourses on October 16.

Published on October 9, 2025