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Kolkata: Canara Robeco Asset Management Company (AMC) is a mutual fund house that offers a wide array of equity, debt and hybrid mutual fund schemes. It runs as many as 26 of MF schemes. Of the schemes this AMC runs, 15 are equity-oriented, 3 hybrid and 11 debt-oriented. Canara Robeco Asset Management Company can boast of a pan-India operation in about two dozen cities in 14 states and 2 union territories.
The Canara Robeco AMC IPO intends to raise Rs 1,326.13 crore through an issue that consists only of offer for sale shares of 4.99 crore. The application process began rolling on October 9 and is supposed to end today, October 13. By the end of the first day of bidding, the issue was subscribed 0.21 times and by the end of the second day of biding, the issues was subscribed 0.44 times overall -- 0.74 times in the retail category, 0.00 times in QIB (Ex Anchor) category and 0.53 times in the NII category by October 10.
Before the bidding process began, Canara Robeco AMC IPO was able to raise Rs 398 crore from anchor investors, which included such as SBI Mutual Funds (MF), ICICI Prudential MF, Nippon India MF, Kotak Mahindra MF, Franklin India MF, HSBC MF, Motilal Oswal MF, PineBridge Global Funds, Kotak Mahindra Life Insurance, Aditya Birla Sun Life Insurance, and Bajaj Allianz Life Insurance.
On the morning of October 13, the last day of bidding, Canara Robeco IPO GMP was recorded by investorgain at Rs XXXXX, which signaled a listing gain of XXXX. The GMP kept dipping from dipped from Rs 35 on October 7 and 8 to Rs 21 on October 9, Rs 20 on October 10, Rs 18 on October 11, Rs 8 on October 12, when it signaled a listing gain of 3.01%. However, it must be remembered that GMP is an unofficial indicator that is volatile and cannot guarantee loss or gain on listing.
The price band for Canara Robeco IPO was fixed at Rs 253-266. The minimum lot size for a retail investor is 56 shares that calls for a minimum application money of Rs 14,896 based on the upper end of the price band. The smallest lot size for an sNII category investor is 14 lots or 784 shares and that for bNII investors, 68 lots or3,808 shares. SBI Capital Markets is the lead manager and MUFG Intime India the registrar to the IPO.
The allotment date for the Canara Robeco AMC shares is October 14, while the refund of application money to unsuccessful investors will take place on October 15. The shares will be listed on BSE and NSE on October 16. The cut-off time for UPI mandate confirmation is 5 pm today.
(Disclaimer: This article is only meant to provide information. TV9 does not recommend buying or selling shares or subscriptions of any IPO, Mutual Funds, precious metals, commodity, REITs, INVITs, any form of alternative investment instruments and crypto assets.)
