Description

Allocation of 14,956,306 equity shares to 25 anchor investors at ₹266 per share for Canara Robeco Asset Management Company Limited's IPO, raising ₹3,978.38 crore.

Summary

The IPO Committee of Canara Robeco Asset Management Company Limited finalized the allocation of 14,956,306 equity shares to 25 anchor investors on October 8, 2025. The shares were allocated at an anchor investor price of ₹266 per equity share (face value ₹10, share premium ₹256), raising a total of ₹3,978,377,396 (approximately ₹3,978.38 crore). The allocation was conducted in consultation with book running lead managers SBI Capital Markets Limited, Axis Capital Limited, and JM Financial Limited.

Key Points

  • Total equity shares allocated to anchor investors: 14,956,306 shares
  • Anchor investor allocation price: ₹266 per share (face value ₹10 + premium ₹256)
  • Total amount raised from anchor investors: ₹3,978.38 crore
  • Number of anchor investors: 25 investors
  • Domestic mutual funds allocation: 11,476,360 shares (76.73% of total anchor allocation) across 11 mutual funds with 18 schemes
  • Largest single allocation: Nippon Life India Small Cap Fund with 1,316,952 shares (8.81%)
  • Book running lead managers: SBI Capital Markets Limited, Axis Capital Limited, JM Financial Limited

Anchor Investor Breakdown

Major Mutual Fund Allocations:

  • Nippon Life India Small Cap Fund: 1,316,952 shares (8.81%) - ₹350.31 crore
  • ICICI Prudential Banking and Financial Services Fund: 823,088 shares (5.50%) - ₹218.94 crore
  • SBI PSU Fund: 941,024 shares (6.29%) - ₹250.31 crore
  • Kotak Contra Fund: 935,032 shares (6.25%) - ₹248.72 crore
  • Aditya Birla Sun Life Banking and Financial Services Fund: 1,128,792 shares (7.55%) - ₹300.26 crore
  • Axis Small Cap Fund: 1,128,792 shares (7.55%) - ₹300.26 crore
  • DSP Banking & Financial Services Fund: 1,128,792 shares (7.55%) - ₹300.26 crore
  • Mirae Asset Small Cap Fund: 376,320 shares (2.52%) - ₹100.10 crore
  • Franklin India Large & Mid Cap Fund: 658,448 shares (4.40%) - ₹175.15 crore
  • Motilal Oswal Large Cap Fund: 658,448 shares (4.40%) - ₹175.15 crore

Insurance Companies:

  • Kotak Mahindra Life Insurance Company Ltd: 470,232 shares (3.14%) - ₹125.08 crore
  • Aditya Birla Sun Life Insurance Company Limited: 470,232 shares (3.14%) - ₹125.08 crore
  • Bajaj Allianz Life Insurance Company Ltd: 470,232 shares (3.14%) - ₹125.08 crore

Foreign Investors:

  • Public Sector Pension Investment Board (via IIFL Asset Management): 658,448 shares (4.40%) - ₹175.15 crore
  • Pinebridge Global Funds - Pinebridge India Equity Fund: 658,448 shares (4.40%) - ₹175.15 crore
  • Steinberg India Emerging Opportunities Fund Limited: 376,177 shares (2.52%) - ₹100.06 crore
  • High Conviction Fund - Series 1: 376,177 shares (2.52%) - ₹100.06 crore

Regulatory Changes

No regulatory changes. This is a standard anchor investor allocation announcement as part of the IPO process.

Compliance Requirements

  • IPO Committee conducted the allocation meeting on October 8, 2025
  • Allocation finalized in consultation with BRLMs (SBI Capital Markets, Axis Capital, JM Financial)
  • Disclosure made to BSE Limited and National Stock Exchange of India Limited
  • Lock-in requirements for anchor investors as per SEBI regulations apply

Important Dates

  • October 8, 2025: IPO Committee meeting held and anchor investor allocation finalized
  • Further IPO dates (bidding period, listing date) not mentioned in this circular

Impact Assessment

Market Impact: Strong institutional participation with 76.73% allocation to domestic mutual funds demonstrates significant investor confidence in Canara Robeco Asset Management Company. The presence of major mutual fund houses (SBI, ICICI Prudential, Nippon, Kotak, Axis, Aditya Birla, DSP, Mirae Asset, Franklin) and insurance companies indicates positive sentiment toward the asset management sector.

Investor Impact: Anchor allocation provides price discovery and stability for the broader IPO. The ₹266 price point will serve as a reference for retail and institutional bidding in subsequent phases.

Sectoral Impact: The successful anchor allocation for an asset management company IPO reflects market appetite for financial services, particularly in the investment management space. This may encourage other asset management firms to consider public listings.

Impact Justification

Significant IPO anchor allocation for asset management company with participation from major domestic mutual funds and insurance companies, indicating institutional confidence.