Canara Robeco AMC IPO: Canara Bank-Backed Mutual Fund Company Subscribed 0.22 Times on First Day; Check GMP

The initial public offering (IPO) of the Mumbai-based Canara Robeco AMC opened for subscription on Thursday, October 9. Canara Robeco AMC IPO subscribed 0.22 times on the first day of bidding, with qualified institutional buyers (QIB) subscribed 0.00 times, Non-Institutional Investors (NII) subscribed 1.21 times, while Retail Individual Investors (RII) subscribed 0.35 times.

The Canara Bank-backed company received initial share sales and received bids for 79,38,112 shares against 3,48,98,051 shares on offer, as per NSE data. Retail Individual Investors (RIIs) category got subscribed 36%, while the quota meant for non-institutional investors received 23% subscription.

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Canara Robeco Asset Management Company on Wednesday said it has mobilised Rs 398 crore from anchor investors. The Mumbai-based asset management company's Rs 1,326 crore initial public offering (IPO) will conclude on October 13. The firm has fixed a price band of Rs 253 to Rs 266 per share for the offering, giving a valuation of roughly Rs 5,300 crore at the upper end. The minimum application is for one lot, which consists of 56 shares.

The Canara Robeco IPO is a completely an offer for sale (OFS) of 4.98 crore equity shares with with face value of Rs 10, totalling up to Rs 1,326.13 crore. Canara Bank owns a 51% stake in Canara Robeco, while Orix Corporation holds the remaining stake in the AMC.

Canara Robeco AMC IPO opens for bidding on October 9, 2025 and closes on October 13, 2025. The share allotment of the Canara Bank-backed firm is likely on October 14, 2025 and the tentative listing date is likely on BSE and NSE on October 16, 2025.

Canara Robeco AMC IPO GMP

According to the websites tracking grey market premium (GMP), the Canara Robeco IPO was reported to be around Rs 35 per share, suggesting a potential gain of approximately 13% over the upper price band of Rs 266.