Canara Robeco IPO oversubscribed 10x, raises ₹1,326cr
Canara Robeco Asset Management's IPO, open from October 9-13, was oversubscribed nearly 10 times—raising ₹1,326 crore by selling 4.99 crore shares at ₹253-266 each.
This cuts promoter ownership from 100% to 75%, with all proceeds going to selling shareholders.
Second-oldest asset manager in India
Started in 1993, Canara Robeco is India's second-oldest asset manager.
Jointly owned by Canara Bank (51%) and Orix Corporation Europe N.V. (formerly Robeco Groep N.V.), a subsidiary of ORIX Corporation (Japan) (49%), it manages a mix of equity, hybrid, and debt funds with assets under management of ₹1.11 lakh crore as of June 2025.
Listing on October 16
Share allotment wrapped up on October 14; the stock lists on BSE and NSE on October 16.
Early signs suggest a possible premium listing of around 4%.
The IPO was managed by SBI Capital Markets, Axis Capital, and JM Financial, with MUFG Intime India as registrar.