Canara Robeco Asset Management Company Limited (CRAMC), a joint venture between India’s Canara Bank and Japan’s ORIX Corporation Europe, has announced the price band for its upcoming initial public offering (IPO) at ₹253 to ₹266 per share.
The IPO, scheduled to open on October 9, 2025, aims to raise approximately ₹1,326 crore through an offer-for-sale (OFS) of 4.98 crore equity shares, with no fresh issue component. At the upper end of the price band, the offering values the company at around ₹5,305 crore.
The offer will see Canara Bank and ORIX Corporation Europe divest portions of their stakes. Canara Bank plans to sell 25.92 million shares, reducing its holding by 13%, while ORIX will offload 23.93 million shares.
The IPO is structured with a 50% allocation for qualified institutional buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors (NIIs). The minimum bid lot is set at 56 equity shares, translating to an investment of approximately ₹14,896.
CRAMC has demonstrated robust financial performance, with revenue from operations increasing from ₹164.22 crore in FY22 to ₹318.09 crore in FY24.
Profit after tax (PAT) also saw significant growth, rising from ₹60.16 crore in FY22 to ₹151 crore in FY24. The company’s assets under management (AUM) have grown substantially, reaching over ₹1 trillion, positioning it among India’s leading asset management firms.
The IPO is expected to list on both the Bombay Stock Exchange (BSE) and the National Stock Exchange (NSE) on October 16, 2025. This move comes amid a busy period for India’s primary market, with several significant IPOs anticipated in the October-December quarter.
Investors interested in participating can apply through the Application Supported by Blocked Amount (ASBA) process via banks or stockbrokers.
The allotment of shares is expected to be finalized on October 14, with refunds initiated on October 15 and shares credited to demat accounts on the same day.
As the IPO approaches, market participants are closely watching Canara Robeco’s performance and the broader market conditions to assess the offering’s potential.