Canara Robeco AMC IPO day 1 live subscription status: From price band to lot size, check key points

Canara Robeco AMC IPO: The initial public offering of Canara Robeco Asset Management Company opened for subscription on Thursday, October 9. With a price band of ₹253 to ₹266 per share, the issue will conclude on October 13.

The AMC's ₹1,326.13 crore IPO is exclusively an offer for sale of 4.99 crore shares by promoters Canara Bank and ORIX Corporation Europe NV (previously known as Robeco Groep NV). As there is no fresh issue component, the company will not get any issue proceeds.

Canara Bank holds a 51% stake in Canara Robeco, while Orix Corporation owns the remaining stake in the AMC.

Canara Robeco AMC IPO day 1: Subscription status

The minimum investment for a retail investor is 56 shares. Half of the net offer has been reserved for qualified institutional buyers, 35% for retail investors and the rest, 10%, for non-institutional investors.

Before the IPO, Canara Robeco Asset Management Company mobilised ₹398 crore from anchor investors, including SBI Mutual Funds (MF), Nippon India MF, Kotak Mahindra MF, Motilal Oswal MF, Franklin India MF, ICICI Prudential MF, HSBC MF, PineBridge Global Funds, Aditya Birla Sun Life Insurance, Kotak Mahindra Life Insurance and Bajaj Allianz Life Insurance.

It allotted 1.49 crore shares to 25 funds at ₹266 per share.

Canara Robeco AMC IPO allotment and listing dates

Canara Robeco's primary activities include managing mutual funds and offering investment advice on Indian equities. It is India's second oldest asset manager.

Canara Robeco AMC IPO GMP

According to investorgain.com and media reports, Canara Robeco AMC's unlisted shares are trading at ₹301, reflecting a grey market premium of 13.16% over the upper price band of ₹266.