Canara Robeco AMC's ₹1,326cr IPO opening soon: Should you invest
Canara Robeco Asset Management Company is opening its ₹1,326 crore IPO for subscriptions until October 13, 2024.
Shares are priced at ₹253-266 each, and the minimum investment is 56 shares—so you'll need about ₹14,896 if you're going in at the top end.
Strong focus on retail investors
Canara Robeco AMC is a joint venture between Canara Bank and Orix Corporation Europe N.V.
They manage mutual funds with a strong focus on retail investors—nearly 87% of their monthly average assets under management are from retail investors.
As of June this year, they held a 1.5% market share in active equity funds.
Offer for sale by existing shareholders
This IPO is a full Offer For Sale: Canara Bank and ORIX are offloading over 49 million shares combined.
If priced at the upper band, the company's market value will be around ₹5,304 crore.
Share allotment is set for October 14 and trading kicks off on October 16.