Canara Robeco AMC share price: Stock lists at over 5% premium on NSE, BSE; here's how much investors gained

Canara Robeco AMC share price: Shares of Canara Robeco Asset Management Company Ltd listed at ₹280.25 per unit on the National Stock Exchange (NSE) and the BSE on Thursday, October 16.

This reflects a premium of 5.36% over the IPO issue price of ₹266 per share.

Canara Robeco AMC share price: Here's how much investors gained per lot

A lot consisted of 56 shares. Investors who applied for the Canara Robeco AMC IPO made ₹15,694 per lot.

The initial share sale was completely an offer for sale (OFS) of 4.98 crore equity shares totalling ₹1,326.13 crore with no fresh issue component.

Under the OFS, promoters Canara Bank and ORIX Corporation Europe N.V. sold 2.59 crore shares and 2.39 crore shares, respectively.

The book-building issue got a 9.74 times subscription, with bids for 33,99,83,448 shares compared to 3,48,98,051 shares on offer, according to the NSE data.

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

Canara Robeco's key activities include handling mutual funds and offering investment advice on Indian equities. It is India's second-oldest asset manager. The state-owned lender had incorporated the company in 1993, partnering with Robeco, now part of Orix, in 2007.

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