Canara Bank has announced its intention to list its mutual fund subsidiary, Canara Robeco Asset Management Company Ltd. The decision, made public on December 27, outlines the bank’s approval to kickstart the listing process through an Initial Public Offering (IPO).
While the bank refrained from specifying the timeline for this move, it emphasized adherence to due diligence, standard procedures, regulatory approvals, and selecting an opportune time for the IPO.
The Canara Bank shares experienced a 1.71% increase in their value on December 27, 2023, closing at 425.05 per share. Presently, the stock is actively traded at 432.3 per share. It is advisable for investors to keep a vigilant eye on Canara Bank’s stock performance in the upcoming days and weeks to observe its response to recent developments.
