Canara Robeco AMC IPO: Price Band at ₹253–₹266, Entirely an OFS by Promoters

Company & Background
Canara Robeco Asset Management Company (AMC) is a joint venture between Canara Bank and ORIX Corporation Europe. The firm, which began in 1993 as Canbank Investment Management Services, transitioned into its current joint venture form in 2007 after Canara Bank sold a 49% stake to Robeco (now part of ORIX).

As of December 2024, the AMC managed around ₹1.08 lakh crore in quarterly average AUM across 25 schemes spanning equity, debt, and hybrid categories. Notably, individual investors account for nearly 89% of its average AUM — among the highest retail proportions in the industry.

IPO Details
The IPO is entirely an Offer for Sale (OFS); no new funds will flow to the company. A total of 4.98 crore equity shares (face value ₹10 each) are being sold — Canara Bank divesting ~2.59 crore and ORIX ~2.39 crore shares.

• Price band: ₹253–₹266 per share
• Issue size: about ₹1,326 crore
• Lot size: 56 shares (≈₹14,896 minimum at upper band)
• Open: October 9, 2025 | Close: October 13, 2025
• Listing: BSE, NSE on October 16, 2025
• Lead managers: SBI Capital Markets, Axis Capital, JM Financial
• Registrar: MUFG Intime India Pvt Ltd

Allocation: 50% QIBs, 15% NIIs, and 35% retail. The anchor investor portion opens a day prior, on October 8.

Peer & Market Context
Once listed, Canara Robeco will join the short list of Indian AMCs on the bourses — alongside HDFC AMC, Nippon Life India AMC, and UTI AMC. Between FY22 and FY24, its assets grew at a CAGR of 34.7%, almost double the industry pace.

At the upper price band, the implied valuation is roughly ₹5,305 crore, with investors closely watching P/E multiples relative to listed peers.

Outlook & Risks
The AMC benefits from Canara Bank’s distribution network, strong retail participation, and consistent AUM growth. However, since the IPO is purely an OFS, the firm itself won’t receive new capital, and performance will hinge on continued fund inflows and market stability. Its high equity exposure could amplify returns — or volatility.

Investments in the stock market are subject to market risks. The value of investments can go up or down. Past performance is not indicative of future results. The publisher/editor is not responsible for any financial loss incurred by readers based on the information provided.