Canara Robeco AMC Gets SEBI Approval to Launch IPO

Canara Robeco Asset Management Company, a subsidiary of public sector lender Canara Bank, has received the green light from the Securities and Exchange Board of India (SEBI) to launch its initial public offering (IPO).

With this regulatory approval in hand, the asset management company can now proceed to file its Draft Red Herring Prospectus (RHP) with the Registrar of Companies, paving the way for its upcoming public issue.

Canara Bank said in an exchange filing, “Canara Robeco Asset Management Company Limited, Subsidiary of Canara Bank has received communication from Securities and Exchange Board of India (“SEBI”) vide letter dated 10.09.2025, received today i.e .11.09.2025, on final observations and for filing Red Hearing Prospectus (RHP).”

Canara Robeco AMC IPO Details

Canara Robeco AMC IPO will be entirely an offer-for-sale (OFS) comprising 4.98 crore equity shares, as outlined in the draft papers filed with SEBI on April 24. Since the IPO is purely an OFS, the proceeds will go entirely to the selling shareholders, with no fresh capital being raised for the company itself. The primary objective of the offering is to facilitate the share sale and list the company on the stock exchanges.

The OFS will see joint promoters Canara Bank and ORIX Corporation Europe NV offloading 2.59 crore and 2.39 crore shares, respectively. Canara Bank currently holds a 51% stake in the AMC, while ORIX owns the remaining 49%.

The IPO will be managed by lead book-running managers SBI Capital Markets, Axis Capital, and JM Financial.

About Canara Robeco AMC

Established in 1993 under the name Canbank Investment Management Services, the AMC was initially set up to manage the assets of Canbank Mutual Fund, which was wholly owned by Canara Bank. In 2007, the bank divested a 49% stake to ORIX Corporation Europe NV, following which the company was rebranded as Canara Robeco Asset Management Company.

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