Canara Bank to unlock ₹684 crore treasure chest through Canara Robeco IPO

With an average acquisition cost of just ₹2.01 per share, translating to a total investment of nearly ₹5.21 crore, the transaction is likely to yield a pre-tax gain of ₹684.37 crore for Canara Bank

Public sector lender Canara Bank is set to unlock a whopping ₹684 crore windfall from the upcoming initial public offering (IPO) of Canara Robeco Asset Management Company, scheduled to open on Thursday, October 9, 2025. 

The IPO, which aims to raise ₹1,326.13 crore, will be entirely an Offer for Sale (OFS) comprising 49.9 million equity shares, according to the company’s Red Herring Prospectus (RHP) filed with the market regulator. The issue will see Canara Bank divesting 25.92 million equity shares (25,924,266 shares), while co-promoter ORIX Corporation Europe N.V. will offload 23.93 million equity shares (23,930,091 shares).

 

The price band for the IPO has been set at ₹253–₹266 per share. If fully subscribed at the upper end of the range, Canara Bank is expected to rake in around ₹689.58 crore from its portion of the sale.

 

 

With an average acquisition cost of just ₹2.01 per share, translating to a total investment of approximately ₹5.21 crore, the transaction is likely to yield a pre-tax gain of ₹684.37 crore for the state-run lender. This figure, however, is subject to applicable taxes and IPO-related expenses.  ALSO READ | WeWork India IPO tumbles to sail through; subscription lags at 16%, GMP nil

Canara Robeco IPO details

The public offering will open for subscription on Thursday, October 9, 2025, and close on Monday, October 13, 2025. As the company has set a lot size of 56 shares, investors can bid for a minimum of 56 shares and in multiples thereof. For retail investors, this translates to an investment of ₹14,896 for a single lot at the upper end of the price range. Additionally, retail investors can bid for up to 13 lots (728 shares), with a maximum investment just under ₹2,00,000.

 

The shares of Canara Robeco are expected to debut on the stock exchanges on Thursday, October 16, 2025, following the completion of the IPO process.

 

Canara Robeco Asset Management Company has clarified that it will not receive any proceeds from the offer. "All proceeds from the Offer will go to the Promoter Selling Shareholders, in proportion to the equity shares offered by them in the Offer for Sale," the company stated in its RHP.

 

SBI Capital Markets, Axis Capital, and JM Financial are serving as the book running lead managers (BRLMs) for the public offering. MUFG Intime India, formerly known as Link Intime India, will act as the registrar to the issue.  ALSO READ | Anantam Highways Trust raises ₹180 cr as IPO opens for subscription

About Canara Robeco Asset Management Company

Incorporated in 1993, Canara Robeco Asset Management Company is India’s second-oldest asset management company (AMC), according to the RHP. The company’s primary activities include managing mutual funds and providing investment advice on Indian equities to Robeco Hong Kong Limited (“Robeco HK”), a member of its Promoter Group.

 

As of June 30, 2025, the AMC managed 26 schemes comprising 12 equity schemes, 10 debt schemes, and four hybrid schemes, with a quarterly average asset under management (QAAUM) of ₹1,11,052 crore.