Canara Robeco AMC IPO: Pricing, Grey Market Premium, and Key Details
Canara Robeco Asset Management Co. has opened its IPO for subscription until October 13, with a price band of Rs 253-266 per share. The pure offer for sale involves promoters Canara Bank and Orix Corporation Europe offloading 4.98 crore shares. The IPO has raised Rs 400 crore from anchor investors and shows a grey market premium of Rs 35. Listing is scheduled for October 16 on BSE and NSE, with SBI Capital Markets, Axis Capital, and JM Financial as lead managers.
*this image is generated using AI for illustrative purposes only.
Canara Robeco Asset Management Co. has launched its Initial Public Offering (IPO), marking a significant event in the Indian capital markets. The IPO, which is structured as a pure offer for sale, has opened for subscription with a price band that has caught the attention of investors and market watchers alike.
IPO Pricing and Subscription Details
The Canara Robeco AMC IPO comes with the following key details:
| Particular | Details |
|---|---|
| Price Band | Rs 253 - Rs 266 per share |
| Minimum Investment | Rs 14,336 for 56 shares |
| IPO Period | Open until October 13 |
| Allotment Date | October 14 |
| Listing Date | October 16 |
| Listing Venues | BSE and NSE |
Offer Structure and Promoter Stake
This IPO is structured as a pure offer for sale, where the existing promoters will offload a total of 4.98 crore shares:
| Promoter | Shares Offered | Stake Reduction |
|---|---|---|
| Canara Bank | 2.59 crore | 13% |
| Orix Corporation Europe | 2.39 crore | 12% |
Anchor Investment and Grey Market Premium
The IPO has already garnered significant interest:
- Raised Rs 400 crore from anchor investors
- Grey market trading indicates a premium of Rs 35
- Potential listing price estimated at Rs 301, based on grey market trends
Company Background
Canara Robeco Asset Management Co. is a joint venture between:
- Canara Bank (51% stake)
- Orix Corporation Europe (49% stake)
IPO Management
The lead managers for this IPO are:
- SBI Capital Markets
- Axis Capital
- JM Financial
This IPO presents an opportunity for investors to participate in the asset management sector, with Canara Robeco AMC's established presence in the market. The grey market premium suggests positive sentiment, but investors should conduct their own research and consider their risk appetite before making investment decisions.
As the IPO unfolds, market participants will be keenly watching the subscription levels and the eventual listing performance of Canara Robeco AMC shares on the stock exchanges.
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