Canara Robeco AMC IPO: Latest Subscription Status, GMP, and Listing Details
The initial public offering of Canara Robeco Asset Management Co. has opened for its third day of bids on Monday, October 13. As of 10:54 a.m., the IPO was subscribed 0.44 times. In this article, we will provide you with the latest updates on the subscription status, grey market premium, and listing details of the Canara Robeco AMC IPO.
Subscription Status
The Canara Robeco AMC IPO has received a lukewarm response from investors so far. As of 10:54 a.m. on Monday, the IPO was subscribed 0.44 times. The subscription status is as follows:
- Qualified Institutional Buyers (QIBs): Nil
- Non-Institutional Investors (NIIs): 0.53 times
- Retail Individual Investors: 0.74 times
The IPO is open for subscription until October 14, and investors can apply for shares in the range of Rs 253 and 256 apiece. Bids can be made for a minimum of 56 equity shares of face value of Rs 10 each.
Grey Market Premium
In the unlisted or grey market, the Canara Robeco AMC IPO is quoting a premium of Rs 8. With the upper price band of Rs 266, the estimated listing price of the IPO is Rs 274, indicating a gain of 3.01%, as per Investorgain.com. However, please note that the grey market premium is not an official price quote for the stock and is based on speculation.
Listing Details
The allotment of shares to IPO investors will be finalized by October 14. The Canara Robeco AMC IPO will list on the BSE and NSE on October 16. The company is a 51-49 joint venture between Canara Bank and Orix Corporation Europe (OCE), and the IPO is a pure offer for sale, with promoters looking to offload up to 4.98 crore shares.
About Canara Robeco AMC
Canara Robeco Asset Management Co. is a leading asset management company in India, with a strong track record of performance. The company is a joint venture between Canara Bank and Orix Corporation Europe (OCE), and it offers a range of investment products, including mutual funds, portfolio management services, and alternative investment funds. To learn more about mutual funds and other investment products, please visit our website.
IPO Details
The Canara Robeco AMC IPO is a pure offer for sale, with promoters looking to offload up to 4.98 crore shares. Canara Bank will sell up to 2.59 crore shares, while Orix Corporation Europe will be selling another 2.39 crore shares. Since this is a pure offer for sale, no funds from the proceeds will go to the company. The lead managers for the deal are SBI Capital Markets Ltd., Axis Capital Ltd., and JM Financial Ltd.
How to Apply for the IPO
Investors can apply for the Canara Robeco AMC IPO through various channels, including online and offline modes. To apply for the IPO online, investors can visit the website of the stock exchange or the online platform of their brokerage firm. To apply for the IPO offline, investors can visit the office of their brokerage firm or the designated branches of the stock exchange. For more information on how to apply for an IPO, please visit our website and read our article on how to apply for an IPO.
Conclusion
The Canara Robeco AMC IPO is an opportunity for investors to invest in a leading asset management company in India. With a strong track record of performance and a range of investment products, the company is well-positioned to benefit from the growing demand for investment products in India. However, investors should carefully evaluate the IPO and consider their own financial goals and risk tolerance before applying. For more information on the Indian stock market and investment products, please visit our website and read our articles on stock market news and investment products.