Canara Robeco IPO Day 1 LIVE Updates: The subscription period for the initial public offering of Canara Robeco Asset Management Company (Canara Robeco AMC IPO) is set to begin on Thursday, October 9, and will conclude on Monday, October 13.
Canara Robeco IPO GMP today or Canara Robeco AMC IPO GMP is ₹35. Given the grey market activities from the past five sessions, today’s IPO GMP is trending upwards and is anticipated to have a solid listing.
Canara Robeco AMC IPO price band has been established at ₹253 to ₹266 per share, which values the company at approximately ₹5,300 crore at the higher end of the range.
The Canara Robeco IPO is entirely an offer for sale (OFS), meaning the company itself will not gain any capital from the public offering, and the funds will go directly to the selling shareholders.
Canara Robeco specializes in managing mutual funds and offering investment advice within the Indian equities market. It holds the distinction of being the second oldest asset manager in the country. The state-owned bank established the company in 1993, and later teamed up with Robeco, which is now part of Orix, in 2007.
(Stay tuned for more updates)
