Canara Robeco AMC completes its IPO allocation today. Check status with direct links, GMP and other details

The share allotment for Canara Robeco Asset Management Company is likely to be completed later today after the Rs 1,326 crore IPO received a healthy overall response from investors. The issue, which was entirely an offer to sell, will debut on the stock exchanges on October 16, and investors are now eagerly waiting to see if they made the cut.

How to check allocation status

Applicants can check their allotment details online once the allotment has been processed, via the registrar’s website or the BSE portal.

Through clerk

Visit https://mufgintime.com/ipo

Select Canara Robeco AMC IPO from the drop-down list.

Enter your PAN, Application Number or DP/Client ID.

Click Submit to know your assignment status.

Via BSE

Go to https://www.bseindia.com/investors/appli_check.aspx

Choose Shares as the issue type and select Canara Robeco AMC Ltd.

Enter your application number and PAN and then click Search.

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Subscription information

The IPO saw strong participation with a total of 9.74 subscriptions. The Qualified Institutional Buyers (QIB) category led demand with 25.92 times enrollment, followed by Non-Institutional Investors (NII) with 6.45 times and Retail Investors with 1.91 times. The company also raised ₹397.8 crore from anchor investors before the IPO opened for public bidding.

Business background

Canara Robeco Asset Management Company is India’s second oldest mutual fund, jointly promoted by Canara Bank and ORIX Corporation Europe NV. The AMC manages 26 mutual funds, including 15 equity-oriented and 11 debt or hybrid funds, and operates in 23 cities in 14 states, supported by more than 52,000 distribution partners.

The company reported a 27% increase in revenue and 26% growth in profit after tax for FY25, with profit reaching Rs 191 crore and revenue reaching Rs 404 crore. The company boasts of a return on equity (RoNW) of 36%, a PAT margin of 47% and a strong EBITDA margin of 65%, making it one of the most profitable AMCs in India.

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GMP and listing prospects

The gray market premium (GMP) for Canara Robeco’s IPO has fallen to around Rs 13-14, indicating a potential listing gain of around 5% over the issue price of Rs 266 per share.

Analysts expect a stable listing, supported by AMC’s strong brand history, consistent profitability and a well-diversified investor base. However, valuations are considered reasonable, meaning there is only limited upside potential in the short term. Most brokers recommend holding stocks for the long term, citing the company’s stable business model and growing retail SIP penetration.

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