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2h ago

Canara Robeco AMC IPO Ends Today With Subdued Demand as Canara HSBC Life Sees Slow Day-Two Bids

Both offerings are pure offer-for-sale issues that raise funds for selling shareholders rather than the companies.

Canara Robeco AMC IPO Subscription Status Day 3, GMP Live: The AMC is a 100% book build issue (Image: Canva)
Canara Robeco vs Canara HSBC Life IPO GMP

Overview

  • Canara Robeco AMC was subscribed 0.44 times as of 10:54 a.m. on Oct. 13, with retail at 0.74x, NIIs at 0.53x and QIBs yet to place bids.
  • Canara Robeco’s Rs 1,326.13 crore issue is priced at Rs 253–266 per share and fully comprises a promoter sell-down, with allotment expected Oct. 14 and listing on Oct. 16.
  • The grey market premium stood near Rs 8 for Canara Robeco and Rs 2 for Canara HSBC Life, implying tentative listing premiums of roughly 3% and 1.9%, respectively, though these are unofficial indicators.
  • Canara HSBC Life’s IPO was subscribed 0.13 times as of 10:45 a.m. on Oct. 13, including QIB 0.03x, NII 0.07x and retail 0.19x, with bidding scheduled to close on Oct. 14.
  • Promoter and selling shareholders include Canara Bank and Orix Corporation Europe in Canara Robeco, and Canara Bank, HSBC Insurance (Asia-Pacific) Holdings and Punjab National Bank in Canara HSBC Life.