Canara Robeco IPO Day 1 Updates: Canara Robeco IPO subscription status was 23% on day 1. The retail portion was subscribed 36%, and NII portion has been booked 23%, Qualified Institutional Buyers (QIBs) portion is yet to receive bids.
The company has received bids for 79,44,496 shares against 3,48,98,051 shares on offer, at 17:00 IST, according to data on BSE.
The subscription period for the initial public offering of Canara Robeco Asset Management Company (Canara Robeco AMC IPO) began on Thursday, October 9, and will conclude on Monday, October 13.
Canara Robeco IPO GMP today or Canara Robeco AMC IPO GMP is ₹35. Given the grey market activities from the past five sessions, today's IPO GMP is trending upwards and is anticipated to have a solid listing.
Canara Robeco AMC IPO price band has been established at ₹253 to ₹266 per share, which values the company at approximately ₹5,300 crore at the higher end of the range.
The Canara Robeco IPO is entirely an offer for sale (OFS), meaning the company itself will not gain any capital from the public offering, and the funds will go directly to the selling shareholders.
Canara Robeco specializes in managing mutual funds and offering investment advice within the Indian equities market. It holds the distinction of being the second oldest asset manager in the country. The state-owned bank established the company in 1993, and later teamed up with Robeco, which is now part of Orix, in 2007.
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Canara Robeco IPO subscription status was 23% on day 1. The retail portion was subscribed 36%, and NII portion has been booked 23%, Qualified Institutional Buyers (QIBs) portion is yet to receive bids.
The company has received bids for 79,44,496 shares against 3,48,98,051 shares on offer, at 17:00 IST, according to data on BSE.
Canara Robeco Asset Management Company is a well-established and trusted brand with a long-standing legacy and strong institutional backing. Its operations are guided by a seasoned professional management team and supported by robust corporate governance practices. 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.
Revenue from operations also showed consistent growth, increasing from Rs. 2,046 million in FY23 to Rs. 3,181 million in FY24 and further to Rs. 4,037 million in FY25. CRAMC maintains a strong retail focus, with retail and HNI investors contributing Rs. 1,012 billion to the total Monthly Average AUM (MAAUM), accounting for 86.9% of total MAAUM as of Q1FY26.
Canara Robeco IPO subscription status was 12% on day 1. The retail portion was subscribed 19%, and NII portion has been booked 10%, Qualified Institutional Buyers (QIBs) portion is yet to receive bids.
The company has received bids for 40,72,992 shares against 3,48,98,051 shares on offer, at 12:21 IST, according to data on BSE.
"With competition intensifying in the mutual fund industry, scheme performance is gaining importance. Our initial analysis indicates that Canara Robeco AMC is having relatively high distribution payout ratios vs. some of the larger peers. We had highlighted a peer comparison over key parameters with the listed peers in an earlier note - Canara Robeco
MF: An Overview. Thus, despite a high equity base, its revenue yield stands at 0.39%, leaving a relatively lower buffer to offer further increase in payouts to distributors to stay competitive. However, equity scheme concentration also results in missed flows in fastgrowing passive/ETF funds," said InCred Equities.
"Post Initial Public Offer (IPO), parent Canara Bank’s stake will fall from ~51% to ~38%, and under the Reserve Bank of India norms, it must further pare it down to ~30% by FY30. At the upper price band of Rs266, the stock is valued at 28x FY25 EPS, which appears fair relative to peer multiples.
We believe the company is an attractive bet in the small AMC space and has a higher potential to rerate with a slight improvement in the performance of its schemes and yields, as compared to a few other peers, given its retail focus and a higher proportion of equity AUM," said InCred Equities.
"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.
At the upper price band company is valuing at P/E of 27.8x to its FY25 earnings and market cap of ₹53,045 million post issue of equity shares. We believe that the IPO is fully priced and recommend a “Subscribe Long Term” rating to the IPO," said Anand Rathi Research.
The lead managers of Canara Robeco IPO are SBI Capital Markets Ltd, Axis Capital Ltd, and JM Financial Ltd. The registrar of the issue is MUFG Intime India Private Ltd (Formerly Link Intime India Private Ltd).
Canara Robeco AMC's initial public offering (IPO) consists entirely of an offer-for-sale, featuring 4.98 crore shares with no component for fresh issues. This means the company will not receive any funds from the IPO, as all proceeds, aside from offering expenses, will go directly to the selling shareholders.
Company have a multi-channel sales and distribution network that allows them to offer products and services to their customers. This network includes third-party distributors, sales through their branches, and digital platforms. As of June 30, 2025, they had 52,343 distribution partners across India, including Canara Bank, 44 other banks, 548 NDs, and 51,750 MFDs.
In the competitive landscape, Canara Robeco AMC faces competition from four publicly listed companies: HDFC AMC, Nippon Life India Asset Management, Aditya Birla Sun Life AMC, and UTI AMC.
Tentatively, Canara Robeco IPO basis of allotment of shares will be finalised on Tuesday, October 14, and the company will initiate refunds on Wednesday, October 15, while the shares will be credited to the demat account of allottees on the same day following refund. Canara Robeco share price is likely to be listed on BSE and NSE on Thursday, October 16.
Canara Robeco IPO has reserved not more than 50% of the shares in the public issue for qualified institutional buyers (QIB), not less than 15% for non-institutional Institutional Investors (NII), and not less than 35% of the offer is reserved for retail investors.
Canara Robeco Asset Management Company announced on Wednesday that it has raised ₹398 crore from anchor investors, just one day prior to the opening of its initial share-sale for public subscription.
The anchor book saw participation from institutional investors such as SBI Mutual Funds (MF), ICICI Prudential MF, Nippon India MF, Kotak Mahindra MF, Franklin India MF, HSBC MF, Motilal Oswal MF, PineBridge Global Funds, Kotak Mahindra Life Insurance, Aditya Birla Sun Life Insurance, and Bajaj Allianz Life Insurance, as indicated in a circular posted on the BSE's website.
Canara Robeco IPO GMP today or Canara Robeco AMC IPO GMP is ₹35. This indicates Canara Robeco share price were trading at a premium of ₹35 in the grey market on Thursday, according to investorgain.com.
Considering the upper end of the IPO price band and the current premium in the grey market, the estimated listing price of Canara Robeco share price was indicated at ₹301 apiece, which is 13.16% higher than the IPO price of ₹266.
Given the grey market activities from the past five sessions, today's IPO GMP is trending upwards and is anticipated to have a solid listing. The minimum GMP recorded is ₹0.00, while the maximum GMP reaches ₹35, as per experts.
'Grey market premium' indicates investors' readiness to pay more than the issue price.
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