Canara Robeco AMC IPO Subscription Status: Latest GMP and Listing Details
The initial public offering of Canara Robeco Asset Management Co. opened for its third day of bids on Monday, October 13, and was subscribed 0.44 times as of 10:54 a.m. In this article, we will provide you with the latest updates on the IPO subscription status, grey market premium, and listing details.
Canara Robeco AMC IPO Subscription Status
As of 10:54 a.m. on Monday, the Canara Robeco AMC 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 has received a moderate response from retail investors, but the QIB and NII categories have seen little interest.
Canara Robeco AMC IPO Grey Market Premium
In the unlisted or grey market, the Canara Robeco AMC IPO quoted a premium of Rs 8. With the upper price band of Rs 256, the estimated listing price is Rs 274, indicating a gain of 3.01%, as per Investorgain.com.
Note that the grey market premium is not an official price quote for the stock and is based on speculation. It is essential to do your own research and consult with a financial advisor before making any investment decisions.
Canara Robeco AMC IPO Listing Details
The allotment of shares to IPO investors will be finalized by October 14. Canara Robeco AMC will list on the BSE and NSE on October 16.
Held by government-owned Canara Bank Ltd., the Canara Robeco AMC IPO will be 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.
How to Apply for the Canara Robeco AMC IPO
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.
To apply for the IPO, you can follow these steps:
- Log in to your trading account or open a new account with a broker.
- Fill out the IPO application form and submit it.
- Pay the application amount using a payment gateway or through a bank transfer.
It is essential to read the IPO prospectus and understand the risks involved before applying for the IPO. You can also consult with a financial advisor to get personalized advice.
About Canara Robeco AMC
Canara Robeco is a 51-49 joint venture between Canara Bank and OCE. OCE was earlier known as Robeco Groep before being acquired by Japan’s Orix Corp.
Canara Bank will sell 13% stake in the company, and OCE will sell another 12% via the OFS. The company has a strong track record of performance and has been one of the top asset management companies in India.
Lead Managers for the IPO
SBI Capital Markets Ltd., Axis Capital Ltd., and JM Financial Ltd. are the lead managers for the deal.
In conclusion, the Canara Robeco AMC IPO has received a moderate response from retail investors, but the QIB and NII categories have seen little interest. The grey market premium is indicating a gain of 3.01% on the listing day. It is essential to do your own research and consult with a financial advisor before making any investment decisions. You can also check out our other articles on IPO news and stock market tips to stay ahead in the market.
