Canara Robeco Asset Management, a joint venture between Canara Bank and Japan’s ORIX, has announced the IPO price band at ₹253 to ₹266 per share, valuing the firm at about ₹53.05 billion (roughly US$598 million). The offer is structured as an offer for sale (OFS), with existing shareholders (Canara Bank and ORIX) offloading 49.8 million shares. This move reduces Canara Bank’s stake by 13% and enables the listing without raising fresh equity.
The subscription window opens October 9 and closes October 13, with listing expected around October 16. The IPO is timed during a flurry of capital market activity, with major fundraises expected in Q4 of 2025. As the asset management sector competes aggressively, Canara Robeco’s entry could shake up the balance between legacy players like HDFC AMC, UTI AMC, and newer rivals.
