IPO Buzz Builds: Canara Robeco AMC Eyes Strong Debut With 12% GMP

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Canara Robeco AMC’s IPO opens October 9 with a Rs 1,326 crore offer-for-sale. A 12% grey market premium signals strong investor interest. The AMC boasts robust retail AUM, wide distribution, and rising profits. Listing is expected on October 16, with allotment finalized by October 14.

Canara Robeco Asset Management Company Ltd is set to launch its initial public offering (IPO) on October 9, 2025, with strong investor interest reflected in a grey market premium (GMP) of approximately 12%. The Rs 1,326 crore offer is entirely an offer-for-sale (OFS) by promoters Canara Bank and ORIX Corporation Europe N.V.

Listing Essentials
- The IPO opens for public subscription on October 9 and closes on October 13
- Price band is set between Rs 253 and Rs 266 per equity share, with a face value of Rs 10
- Minimum bid lot size is 56 shares, translating to Rs 14,896 at the upper price band
- Anchor investor bidding opened on October 8, ahead of the public issue
- Share allotment is expected by October 14, with listing tentatively scheduled for October 16 on NSE and BSE
- The GMP, ranging between Rs 33 and Rs 35, signals speculative enthusiasm and potential listing-day gains

Company Snapshot
- Founded in 1993, Canara Robeco AMC is India’s second-oldest asset management firm
- As of June 30, 2025, it managed 26 mutual fund schemes with a Quarterly Average AUM of Rs 1,11,052 crore
- Retail investors contribute 86.87% of total Monthly Average AUM, with 0.50 crore individual folios accounting for 99.01% of total folios
- The AMC operates 23 branches across 14 states and two union territories, supported by over 52,000 distribution partners
- Promoters are offloading 49,854,357 equity shares—Canara Bank offering 25.92 million and ORIX 23.93 million shares

Market Sentiment
- The IPO’s strong GMP reflects investor confidence in the AMC’s retail dominance and distribution strength
- Analysts expect robust subscription across retail and institutional categories, driven by brand equity and financial performance
- The AMC’s net income rose from Rs 79 crore in FY23 to Rs 190.7 crore in FY25, with margins exceeding 47%
- The IPO may set the tone for upcoming AMC listings and deepen retail participation in India’s mutual fund sector

Sources: [1] Economic Times, [2] IPO Central, [3] News18