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Canara AMC IPO Opens with Rs 1,326 Crore Offer for Sale
Canara AMC IPO Opens with Rs 1,326 Crore Offer for Sale
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BTCCSquare news:
Canara Robeco Asset Management Company's initial public offering (IPO) commenced today, with a price band set at Rs 253 to Rs 266 per share. The Rs 1,326 crore offering, entirely an offer for sale (OFS), will close on October 13. Promoters Canara Bank and ORIX Corporation Europe N.V. are offloading 4.98 crore shares, with no fresh issue component.
Institutional and retail investors have been allocated 50% and 35% of the IPO, respectively. Anchor investors, including SBI Mutual Fund and ICICI Prudential MF, have already committed Rs 398 crore. The AMC's ownership remains split between Canara Bank (51%) and ORIX Corporation.
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