Canara Bank and ORIX Corporation Europe N.V, which are promoters of the company will collectively offer up to 49,854,357 equity shares, In this, Canara Bank will offer up to 25,924,266 equity Shares while ORIX will sell up to 23,930,091 equity shares, the Draft Red Herring Prospectus (DRHP) said.
Canara Robeco Asset Management Company’s primary activities include managing mutual funds and providing investment advice on Indian equities. As of December 31, 2024, the company managed 25 schemes comprising 12 equity schemes, 10 debt schemes and three hybrid schemes with a quarterly average assets under management (AUM) of Rs 1,08,366 crore.
The company has a multi-channel sales and distribution network that allows it to offer products and services to its customers. This network includes third-party distributors, and sales made through its branches, and digital platforms.
Canara Robeco AMC has witnessed a growth in its QAAUM, growing at a CAGR of 34.75% between March 31, 2022, to March 31, 2024, compared to industry growth of 18.8%, the DRHP said citing a CRISIL report. The same report adds that the company had the third highest share of equity (including equity-oriented hybrid) AUM as of and compared to the top 10 AMCs in India, had the highest share of equity-oriented AUM as of December 31, 2024.
The equity shares are proposed to be listed on the BSE and NSE.SBI Capital Markets Limited, Axis Capital Limited and JM Financial Limited are the Book Running Lead Managers to the issue. MUFG Intime India Private Limited (Formerly Link Intime India Private Limited) will be the registrar for the public issue.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of Economic Times)
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