Canara Robeco IPO Opens Immediately: Examine worth band, key dates, lot dimension and different particulars earlier than investing

Canara Robeco IPO: Canara Robeco Asset Administration Firm’s much-awaited preliminary public providing (IPO) opens for subscription as we speak, October 9, and can proceed till October 13.

The IPO is fully a proposal on the market (OFS) of 4.98 crore shares, with no contemporary difficulty part.

Canara Robeco IPO Value Band

The IPO has been priced in a band of Rs 253 to Rs 266 per share, giving Canara Robeco a valuation of roughly Rs 5,300 crore on the higher finish.

Canara Robeco IPO Lot Measurement

The lot dimension for an utility is 56. The minimal quantity of funding required by a retail investor is Rs 14,896, which is able to include 56 shares.

Canara Robeco IPO OFS

Below the OFS, Canara Financial institution, which holds a 51 per cent stake in Canara Robeco, will offload 2.59 crore shares, whereas ORIX Company Europe N.V., holding the remaining 49 per cent, will promote 2.39 crore shares.

Since it’s an OFS, the proceeds from the IPO will go fully to the promoting shareholders, and the corporate itself is not going to obtain any funds.

The problem allocation follows the standard regulatory norms, with 50 per cent reserved for certified institutional patrons (QIBs), 35 per cent for retail buyers, and 15 per cent for non-institutional buyers.

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Canara Robeco Firm Profile

Canara Robeco is considered one of India’s oldest asset administration corporations, offering mutual fund administration and funding advisory providers on Indian equities.

The corporate was initially floated by state-run Canara Financial institution in 1993 and later partnered with Robeco, now a part of ORIX, in 2007.

It operates in a aggressive house alongside listed asset managers comparable to HDFC Asset Administration Firm, Nippon Life India Asset Administration, and UTI Asset Administration Firm.

Canara Robeco IPO Itemizing Date

The shares of Canara Robeco are anticipated to record on the inventory exchanges on October 16.

Canara Robeco IPO Anchor Buyers

The IPO has already seen sturdy assist from anchor buyers, who’ve subscribed to shares value Rs 398 crore forward of the general public launch.

The anchor guide attracted participation from main institutional buyers, together with SBI Mutual Fund, ICICI Prudential Mutual Fund, Nippon India Mutual Fund, Kotak Mahindra Mutual Fund, Franklin India Mutual Fund, HSBC Mutual Fund, Motilal Oswal Mutual Fund, PineBridge International Funds, Kotak Mahindra Life Insurance coverage, Aditya Birla Solar Life Insurance coverage, and Bajaj Allianz Life Insurance coverage.