Canara Robeco Asset Management Company Limited is launching a mainboard IPO on Oct 9–13, 2025, priced in the ₹253–₹266 band with a minimum lot of 56 shares, and the issue is a 100% Offer for Sale of 4.985 crore shares.
IPO terms
- Dates: Oct 9–13, 2025; anchor on Oct 8; allotment likely Oct 14; listing targeted Oct 16 on NSE & BSE.
- Price band: ₹253–₹266 per share; face value ₹10.
- Structure/size: Entirely OFS of 4.985 crore shares (no fresh issue), estimated issue size ₹1,326.13 crore at the upper band.
- Sellers: Canara Bank to sell ~2.592 crore shares; ORIX Corporation Europe N.V. to sell ~2.393 crore shares.
- Market lot: 56 shares; minimum application ~₹14,168–₹14,896 depending on bid.
- Quotas: QIB 50%, NII 15%, Retail 35%.
About the company
- JV pedigree: Jointly promoted by Canara Bank and ORIX Corporation Europe; among India’s oldest JV AMCs.
- Scale and AUM: Quarterly average AUM around ₹1.08 lakh crore as of Dec 31, 2024, across equity, debt, and hybrid schemes.
- Footprint: Multi‑channel distribution leveraging bank branches, third‑party distributors, and digital platforms.
Financials snapshot
- Revenue from operations: ₹164.22 crore (FY22), ₹204.80 crore (FY23), ₹318.78 crore (FY24); Dec 31, 2024 YTD revenue ₹303.05 crore.
- PAT: ₹60.16 crore (FY22), ₹79.00 crore (FY23), ₹151.00 crore (FY24); Dec 31, 2024 YTD PAT ₹148.98 crore.
- Net worth: ₹272.19 crore (FY22) to ₹454.49 crore (FY24), reaching ₹558.35 crore by Dec 31, 2024.
Status of filings and approvals
- DRHP filed with SEBI on May 2, 2025; updated DRHP got SEBI nod on Sep 29, 2025, enabling the RHP and pricing.
- RHP and price band finalized ahead of opening, with official price band ad also circulated.
How to apply and check allotment
- Apply via ASBA net banking or UPI during Oct 9–13; approve UPI mandate before broker cut‑off on the closing day.
- Allotment status: Check MUFG Intime’s Public Issues page (registrar), and cross‑verify via BSE/NSE investor modules on Oct 14.
What to evaluate
- Pure OFS: Company receives no primary capital; proceeds go to Canara Bank and ORIX, so evaluate listing benefits and shareholder base diversification.
- Peer context: Compare valuation versus listed AMCs on P/E, price-to-AUM metrics, operating margin, and yield on AUM; consider channel concentration risks.
- Growth levers: AUM mix shift toward higher‑yield equity schemes, distribution expansion, and cost efficiency support earnings trajectory.
Bottom line: Canara Robeco AMC’s IPO offers exposure to a long‑standing bank‑backed asset manager via a ₹1,326 crore all‑OFS at ₹253–₹266, with solid FY24 profitability and scale; weigh valuation versus AMC peers and the benefits of listing given no fresh capital, then size bids accordingly.
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