Canara Robeco IPO: Strong Investor Interest Despite Full Offer-for-Sale Structure

The Canara Robeco Asset Management Company's IPO saw 48% subscription on its second day. With no fresh issue component, the Rs 1,326 crore public offer is entirely an offer for sale, with proceeds not benefiting the company directly. The IPO closes on October 13.

On the second day of Canara Robeco Asset Management Company's public offer, the subscription rate reached 48%, as investors showed considerable interest in the IPO.

This capital-raising exercise comprises a complete offer for sale, totaling 4.98 crore equity shares, without a fresh issue component. Prominent shareholders, Canara Bank and ORIX Corporation Europe N.V., are selling 2.59 crore and 2.39 crore shares, respectively.

The IPO, pegged at Rs 1,326 crore, will end on October 13, while retail investors have already subscribed to 74% of their allocated portion.

(With inputs from agencies.)