The Canara Robeco Asset Management Co IPO opens today. The company aims to raise Rs 1,326.13 crores through this book-built issue. SBI Capital Markets is the lead manager for the issue, and MUFG Intime is the registrar.
| Canara Robeco IPO | Key Details |
| Price Band | Rs 253-266 |
| IPO Date | October 9-13 |
| GMP | 13% |
| IPO Allotment date | October 14 |
| Listing date | October 16 |
Canara Robeco IPO details
The Canara Robeco IPO is open between October 9-13. This is entirely an offer for sale comprising 4.99 crore shares. The issue price band is set between Rs 253-266 per share. Those keen about applying need to invest in a minimum of 36 shares that make 1 lot. For retail investors, that entails an investment of Rs 14,896 comprising 1 lot. Small NIIs need to apply for 14 lots worth Rs 208,544. For bNII, the minimum size is 68 lots, amounting to Rs 10,12,928.
Canara Robeco IPO: GMP
The Canara Robeco IPO GMP has been trending higher. The last updated GMP indicates a listing price that would be at a 13% premium to the issue price. The current GMP comprises of Rs 35 per share. However, readers must remember that the grey market premium is an unofficial indicator of user interest. Sometimes the actual listing price could be very different.
Canara Robeco IPO: Allotment, listing
The Camara Robeco IPO allotment is likely to be finalised on October 14. The tentative listing date for the issue has been fixed on October 16.
Canara Robeco IPO: Anchor investors
Canara Robeco IPO has raised Rs 397.83 crore from 25 anchor investors and allotted 1.49 crore shares at the IPO price band of Rs 266 per share. The Anchor Book includes marquee investors such as SBI MF, ICICI Prudential MF, Nippon Life India MF, Kotak Mahindra MF, Franklin India MF, DSP Banking & Financial Services Fund, HSBC MF, Motilal Oswal MF, PineBridge Global Funds, Kotak Mahindra Life Insurance, Aditya Birla Sun Life Insurance, and Bajaj Allianz Life Insurance, among others.
Canara Robeco IPO: Analyst views
Canara Robeco Asset Management Company is a trusted brand with a long-standing legacy. Anand Rathi analysts pointed out that they have a ‘Subscribe Long Term’ rating for the IPO. They highlighted that, “The company offers a well-diversified portfolio of equity products driven by a rigorous, research-based investment approach. It also benefits from an extensive, multi-channel sales and distribution network spread across India. Additionally, it continues to witness steady growth in the share of AUM contributed by individual investors and through systematic investment plan (SIP) inflows.”