Shares of Canara Robeco Asset Management Company Ltd. made a positive debut on the exchanges today, listing at Rs 280.25, up 5.36% from the issue price of Rs 266. The listing is being viewed as a steady performance considering the relatively easy allotment process and cautious investor sentiment ahead of upcoming IPOs.
IPO performance and subscription details
The Rs 1,326.13 crore mainboard IPO opened for subscription on October 9 and closed on October 13, with allotment finalised on October 14. The issue, priced between Rs 253 and Rs 266 per share, was entirely an Offer for Sale (OFS) of 4.99 crore equity shares.
The IPO received robust investor response, being subscribed 9.74 times overall, according to NSE data:
- Retail investors: 1.91 times
- Non-Institutional Investors (NII): 6.45 times
- Qualified Institutional Buyers (QIBs): 25.92 times
Listing and market view
The positive listing reflects strong institutional participation and confidence in the mutual fund sector’s long-term growth potential. Analysts said the performance aligns with expectations for a stable start, given that the issue was not aggressively priced and mutual fund penetration in India continues to rise.
SBI Capital Markets Ltd. served as the book-running lead manager, while MUFG Intime India Pvt. Ltd. acted as the registrar to the issue.
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