Canara Robeco Asset Management Company Limited, a subsidiary of the state-owned Canara Bank, has taken a significant step towards its potential initial public offering (IPO). The company filed an updated Draft Red Herring Prospectus (UDRHP) with the Securities and Exchange Board of India (SEBI), signaling progress in its journey to go public.

Key Developments

• UDRHP Filing: Canara Robeco Asset Management Company Limited submitted its updated Draft Red Herring Prospectus to SEBI, a crucial step in the IPO process.
• Parent Company Disclosure: Canara Bank, the parent company of Canara Robeco Asset Management, officially informed the Bombay Stock Exchange (BSE) and National Stock Exchange (NSE) about this development through a formal communication.

About Canara Robeco Asset Management

Canara Robeco Asset Management Company Limited operates as a subsidiary of Canara Bank, one of India's leading public sector banks. The company is involved in the asset management business, offering various investment products and services to its clients.

Implications

The filing of the UDRHP is a significant milestone in the IPO process, suggesting that Canara Robeco Asset Management is moving forward with its plans to list on the stock exchanges. This move could potentially allow the company to raise capital from the public markets and provide an opportunity for investors to participate in its growth story.

As the IPO process unfolds, market participants and potential investors will likely keep a close watch on further developments and disclosures from the company and regulatory authorities.

Canara Bank , one of India's leading public sector banks, has announced a significant extension to the tenure of its Executive Director, Hardeep Singh Ahluwalia. The bank's board has approved the continuation of Ahluwalia's term beyond its original end date, showcasing confidence in his leadership and contributions to the institution.

Extension Details

The Department of Financial Services, Ministry of Finance, Government of India, through a notification dated September 15, 2025, has extended Ahluwalia's term of office. Originally set to conclude on February 6, 2026, his tenure will now continue until his superannuation on June 30, 2027, or until further orders, whichever comes earlier.

About Hardeep Singh Ahluwalia

Hardeep Singh Ahluwalia brings a wealth of experience to his role at Canara Bank:

• Began his banking career in 1992 as an Agricultural Field Officer at Allahabad Bank (now Indian Bank)
• Holds a degree in Agriculture and is a Certified Associate of the Indian Institute of Bankers
• Possesses additional qualifications including a Certification in Credit Management from NIBM Pune and a Diploma in Computer Applications in Financial Management
• Boasts over three decades of diverse banking experience across various functional areas and geographies, including international exposure in Hong Kong

Career Highlights

Throughout his career, Ahluwalia has held several strategic positions:

• Lead District Manager
• Head of International Branch
• Zonal Head, Chandigarh
• Field General Manager (FGM) / Chief General Manager (CGM), Kolkata

Prior to joining Canara Bank as Executive Director, Ahluwalia served as the General Manager of the Recovery Department at Indian Bank's corporate office.

Leadership and Expertise

Ahluwalia is recognized for his ability to build productive teams and deliver exceptional results. His commitment to continuous learning is evident from his participation in various training programs, including a Leadership Development Programme at IIM Bangalore, curated by the Banks Board Bureau in consultation with the Indian Banks' Association (IBA).

Regulatory Compliance

In accordance with regulatory requirements, Canara Bank has confirmed that Hardeep Singh Ahluwalia is not related to any of the bank's directors and is not debarred from holding the office of Director by any SEBI order or other regulatory or statutory authority.

This extension of Ahluwalia's term underscores Canara Bank's commitment to maintaining strong and experienced leadership at its helm, which is crucial for navigating the dynamic banking landscape in India.