Canara Robeco's IPO: A Strategic Asset Unveiling

Canara Robeco Asset Management Company is gearing up for its initial public offering (IPO), mobilizing Rs 398 crore from anchor investors. The IPO, slated from October 9 to October 13, is a complete offer for sale. Major institutional players have shown interest ahead of the listing on October 16.

Canara Robeco Asset Management Company announced that it had successfully raised Rs 398 crore from anchor investors. This funding comes just a day before its initial public offering (IPO), which opens for public subscription.

The anchor book saw participation from major institutional investors such as SBI Mutual Fund, ICICI Prudential MF, Nippon India MF, among others, according to a circular posted on BSE's website. The company allocated 1.49 crore equity shares to 25 funds at a price of Rs 266 per share.

The IPO, worth Rs 1,326 crore, begins on October 9 and concludes on October 13. The offering is an entirely offer for sale, with promoters Canara Bank and ORIX Corporation offloading 4.98 crore shares in total. Shares are set to list on the bourses on October 16.

(With inputs from agencies.)