Canara Robeco AMC IPO GMP Today: Last day for subscription today; check allotment date, direct link

The initial public offering (IPO) of Canara Robeco Asset Management Company (AMC) is set to close today, Monday, October 13, after a three-day subscription period that opened on October 9.

Investor interest are muted on the last day of bidding as the shares of the company trading at flat note in the unlisted market, according to the websites that track such data.

On the last day of bidding the IPO fully booked, with receiving bids for 3,63,58,448 shares against 3,48,98,051 shares on offer, according to the BSE data.

At the last count, the Canara Robeco IPO is at Rs 0, indicating an estimated listing price similar to the upper price band of Rs 266.

The AMC firm has fixed a price band of Rs 253–266 per share with investors required to bid for a minimum of 56 shares per lot, translating to an investment of Rs 14,896.

The Rs 1,326 crore IPO is entirely an offer-for-sale (OFS) by promoters Canara Bank and ORIX Corporation Europe, who together will offload 4.98 crore shares.

The issue has been structured with 50 per cent reserved for qualified institutional buyers (QIBs), 35 per cent for retail investors, and 15 per cent for non-institutional investors (NIIs).

Anchor investor details

Ahead of the IPO opening, the company raised Rs 398 crore from anchor investors, allotting 1.49 crore equity shares at Rs 266 apiece to 25 marquee institutions.

The anchor book saw participation from SBI Mutual Fund, ICICI Prudential MF, Nippon India MF, Kotak Mahindra MF, Franklin India MF, HSBC MF, Motilal Oswal MF, PineBridge Global Funds, Kotak Mahindra Life Insurance, Aditya Birla Sun Life Insurance, and Bajaj Allianz Life Insurance, among others.

Canara Robeco AMC IPO: Allotment, listing dates

The basis of allotment for Canara Robeco AMC IPO will be finalised on October 14 (Tuesday), while shares will be credited to demat accounts on October 15 (Wednesday).

The company’s listing on the BSE and NSE is scheduled for Thursday, October 16.

Who is registrar of Canara Robeco AMC IPO?

The IPO’s registrar is MUFG Intime India Pvt Ltd, and investors can check allotment status on its official website: https://in.mpms.mufg.com/Initial_Offer/public-issues.html

All you need to know about About Canara Robeco AMC

Established in 1993, Canara Robeco AMC is India’s second-oldest asset management company. It is a joint venture between Canara Bank (51 per cent stake) and ORIX Corporation Europe (49 per cent). The firm manages mutual funds and offers investment advisory services in equities, competing with listed peers such as HDFC AMC, Nippon Life India AMC, and UTI AMC.

(Disclaimer: The above article is meant for informational purposes only, and should not be considered as any investment advice. ET NOW DIGITAL suggests its readers/audience to consult their financial advisors before making any money related decisions.)

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