Particle.news
Download on the App Store
11 ARTICLES
·
3mo ago

Canara Robeco AMC Lists With 5% Premium After Rs 1,326-Crore IPO

Robust institutional bidding set the stage for the mutual fund manager’s steady debut.

Image
Image
Canara Robeco AMC Share Price, IPO GMP, Listing Live Updates: The bank owns 51% and OCE holds 49% in the AMC. (Image: Canva)
Image

Overview

  • Shares opened at Rs 280.25 versus the Rs 266 issue price, implying roughly a 5% premium and a market capitalization reported around Rs 5,800–6,056 crore.
  • The IPO raised Rs 1,326.13 crore through a pure offer for sale of about 4.99 crore shares within a price band of Rs 253–266.
  • Overall subscription reached 9.74 times, led by Qualified Institutional Buyers at roughly 25.9 times, with Non-Institutional at 6.45 times and retail at 1.91 times.
  • Pre-listing grey market indications at Rs 20–22 suggested potential listing gains of about 7–8%, reflecting moderate sentiment.
  • Brokerage PL Capital initiated coverage with a Buy and a Rs 320 target, while Orix CEO Kiyoshi Habiro projected 40% annual growth over the next five years and indicated openness to acquisitions.