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5h ago

Canara Robeco, Canara HSBC Life IPOs Open With Strong Anchors and Early Retail Interest

Robust anchor interest signals institutional appetite, with proceeds from both offer-for-sale issues accruing to selling shareholders.

Canara Robeco vs Canara HSBC Life
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Overview

  • Canara Robeco is open Oct 9–13 at Rs 253–266 for a Rs 1,326.13 crore OFS of about 4.99 crore shares; Canara HSBC Life runs Oct 10–14 at Rs 100–106 for a Rs 2,517.5 crore OFS of 23.75 crore shares.
  • Canara Robeco drew 23% overall subscription on Day 1 with the retail tranche at 36%, according to NSE data.
  • Anchor investors committed about Rs 398 crore to Canara Robeco (1.49 crore shares at Rs 266) and Rs 750 crore to Canara HSBC Life (7.08 crore shares at Rs 106).
  • Grey‑market trackers show tentative premiums of about Rs 21 for Canara Robeco and Rs 10 for Canara HSBC Life over their caps, an unofficial signal of potential listing gains.
  • Both deals are pure OFS transactions that route funds to selling shareholders, with Canara Bank diluting stakes and eyeing large gains including an estimated 13,134% ROI on Robeco shares at the upper band.