Description
Canara Robeco Asset Management Company Limited has finalized allocation of 14,956,306 equity shares to 25 anchor investors at ₹266 per share, raising ₹3,978.38 crore in its IPO anchor book.
Summary
Canara Robeco Asset Management Company Limited’s IPO Committee finalized the allocation of 14,956,306 equity shares to anchor investors on October 8, 2025, at an anchor investor allocation price of ₹266 per equity share (face value ₹10 plus premium of ₹256). The total amount raised from anchor investors is ₹3,978.38 crore. Out of total allocation, 76.73% (11,476,360 shares) were allocated to 11 domestic mutual funds through 18 schemes. The book running lead managers are SBI Capital Markets Limited, Axis Capital Limited, and JM Financial Limited.
Key Points
- Total anchor allocation: 14,956,306 equity shares
- Anchor investor price: ₹266 per share (₹10 face value + ₹256 premium)
- Total funds raised from anchors: ₹3,978,377,396 (approximately ₹3,978.38 crore)
- Domestic mutual funds received 76.73% of anchor allocation through 18 schemes from 11 fund houses
- Largest allocations: Nippon Life India Small Cap Fund (8.81%), followed by three funds at 7.55% each (Axis Small Cap, DSP Banking & Financial Services, Mirae Asset Small Cap)
- Insurance companies allocated: Kotak Mahindra Life, Aditya Birla Sun Life, Bajaj Allianz Life
- Foreign investors: PineBridge Global Funds, Public Sector Pension Investment Board (via IIFL AM), Steinberg India Emerging Opportunities Fund
- IPO Committee meeting and allocation finalized on October 8, 2025
Anchor Investor Breakdown
Top 5 Allocations by Percentage:
- Nippon Life India Small Cap Fund - 8.81% (1,316,952 shares, ₹350.31 crore)
- Axis Small Cap Fund - 7.55% (1,128,792 shares, ₹300.26 crore)
- DSP Banking & Financial Services Fund - 7.55% (1,128,792 shares, ₹300.26 crore)
- Mirae Asset Small Cap Fund - 7.55% (1,128,792 shares, ₹300.26 crore)
- Aditya Birla Sun Life Banking and Financial Services Fund - 7.55% (1,128,792 shares, ₹300.26 crore)
Mutual Fund Houses Participating:
- SBI Mutual Fund (2 schemes)
- ICICI Prudential Mutual Fund (2 schemes)
- Nippon India Mutual Fund
- Kotak Mahindra Mutual Fund (2 schemes)
- Aditya Birla Sun Life Mutual Fund (2 schemes)
- Axis Mutual Fund
- DSP Mutual Fund
- Mirae Asset Mutual Fund (2 schemes)
- HSBC Mutual Fund (4 schemes)
- Franklin Templeton Mutual Fund
- Motilal Oswal Mutual Fund
Insurance Companies:
- Kotak Mahindra Life Insurance - 3.14% (470,232 shares, ₹125.08 crore)
- Aditya Birla Sun Life Insurance - 3.14% (470,232 shares, ₹125.08 crore)
- Bajaj Allianz Life Insurance - 3.14% (470,232 shares, ₹125.08 crore)
Foreign/Other Investors:
- PineBridge Global Funds - 4.40% (658,448 shares, ₹175.15 crore)
- Public Sector Pension Investment Board via IIFL AM - 4.40% (658,448 shares, ₹175.15 crore)
- Steinberg India Emerging Opportunities Fund - 2.52% (376,177 shares, ₹100.06 crore)
- High Conviction Fund Series 1 - 2.52% (376,177 shares, ₹100.06 crore)
Regulatory Changes
No regulatory changes announced. This is a standard anchor investor allocation disclosure as per SEBI IPO guidelines.
Compliance Requirements
- Company has disclosed anchor investor allocation as required under SEBI (Issue of Capital and Disclosure Requirements) Regulations
- Anchor investors are subject to lock-in period as per applicable regulations
- Allocation details filed with BSE and NSE listing departments
Important Dates
- October 8, 2025: IPO Committee meeting held and anchor allocation finalized
- October 8, 2025: Anchor investor allocation disclosure filed with exchanges
Impact Assessment
Market Impact: The successful anchor book raising nearly ₹4,000 crore demonstrates strong institutional interest in Canara Robeco Asset Management Company’s IPO. The participation of marquee domestic mutual funds (76.73% of allocation) and leading insurance companies signals confidence in the company’s business model and valuation. The anchor price of ₹266 per share will serve as a reference point for retail and institutional investors in the main IPO.
Sector Significance: Strong participation from banking and financial services focused funds (SBI PSU, ICICI Prudential Banking, Kotak Banking & Financial Services, Aditya Birla Banking & Financial Services, DSP Banking & Financial Services) indicates institutional investors view the asset management sector favorably. Multiple small cap funds participating suggests optimism about growth prospects.
Price Discovery: The anchor allocation at ₹266 per share provides initial price discovery and reduces uncertainty for the main book building process. The diverse investor base including mutual funds, insurance companies, and foreign investors enhances credibility of the pricing.
Impact Justification
Significant IPO anchor allocation for asset management company, indicating market interest and price discovery for upcoming public offering