India’s Canara Robeco Asset Management has seen its IPO fully subscribed on the final day, led by institutional investors.
- Canara Bank sold a 13% stake and ORIX offloaded 24.5%, with proceeds going entirely to these shareholders—no new shares were issued.
- Shares are expected to list on October 16.
- The IPO comes amid a record year for Indian listings, with billion-dollar deals such as LG Electronics India on the horizon.
- Canara Robeco primarily caters to equity investors, with a strong retail base.
- SBI Capital Markets, Axis Capital, and JM Financial are leading the transaction.
This IPO underscores continued investor appetite for Indian asset management and equity markets, even as other fund houses like ICICI Prudential AMC eye listings this year.