Canara Robeco Asset Management Company (AMC) made a modest debut on Dalal Street on Thursday, October 16, 2025, listing at a 5.4% premium over its issue price of ₹266 per share. The stock opened at ₹280.25 on both BSE and NSE, placing the company’s post-listing market capitalisation at approximately ₹5,783 crore.
While the debut reflected healthy investor participation, the listing came in slightly below expectations, marking a moderate start for one of India’s leading asset management companies.
IPO Subscription and Offer Details
The ₹1,326.13 crore mainboard IPO of Canara Robeco AMC was entirely an offer-for-sale (OFS) of 4.99 crore equity shares, priced between ₹253 and ₹266 per share. Since it was a complete OFS, none of the IPO proceeds will go to the company, as the funds will be received by the selling promoters.
Canara Bank currently holds a 51% stake in Canara Robeco AMC, while Orix Corporation owns the remaining 49% stake.
The IPO, which opened for subscription on October 9 and closed on October 13, witnessed strong investor demand, being subscribed 9.74 times overall.
According to NSE data:
- The Qualified Institutional Buyers (QIBs) segment was subscribed 25.92 times.
- The Non-Institutional Investors (NIIs) category saw 6.45 times subscription.
- The Retail Individual Investors (RIIs) portion was subscribed 1.91 times.
The allotment was finalised on October 14, following which shares were listed on the BSE and NSE on October 16.
Strong Institutional Participation
A day before the issue opened to the public, Canara Robeco AMC raised over ₹750 crore from anchor investors, showcasing robust institutional interest.
Prominent participants in the anchor book included ICICI Prudential Mutual Fund, HDFC Mutual Fund, DSP Mutual Fund, WhiteOak Capital Mutual Fund, Mirae Asset Mutual Fund, Allianz Global Investors Fund, Amundi Funds, Matthews India Fund, Tata Mutual Fund, Motilal Oswal Mutual Fund, and Société Générale.
This anchor investment round underscored strong confidence in the company’s fundamentals, driven by its long-standing track record and experienced management team.
Position in the Indian AMC Landscape
Canara Robeco AMC is among India’s leading asset management companies, jointly promoted by Canara Bank and Orix Corporation of Japan. The company offers a comprehensive suite of mutual fund products across equity, debt, and hybrid categories, serving both retail and institutional investors.
Following its listing, Canara Robeco joins the ranks of other listed peers in the Indian AMC industry, including HDFC Asset Management Company, Nippon Life India Asset Management, and UTI Asset Management Company.
The successful IPO further strengthens the visibility of India’s growing mutual fund ecosystem, which continues to attract both domestic and global investors due to rising financial literacy and market participation.
Market Debut and Valuation
Despite subdued market expectations, Canara Robeco AMC managed a steady debut with shares listing at ₹280.25 — about 5% above the issue price. The IPO valuation positioned the AMC competitively among peers, reflecting investor optimism about the firm’s growth prospects in India’s expanding asset management space.
SBI Capital Markets Ltd. acted as the book-running lead manager, while MUFG Intime India Pvt. Ltd. served as the registrar to the issue.
Conclusion
The Canara Robeco IPO marked a balanced entry into the stock market, backed by strong institutional demand and a well-established brand in India’s mutual fund industry.
While the listing gains were modest at around 5%, the company’s robust fundamentals, trusted parentage, and strategic position in the asset management landscape highlight its potential for steady long-term growth.
With a diversified product portfolio and joint ownership by Canara Bank and Orix Corporation, Canara Robeco AMC remains well-placed to capture the evolving opportunities within India’s rapidly maturing mutual fund sector.
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