The Canara Robeco IPO is a book-built issue worth Rs 1,326.13 crore, consisting of an offer for sale (OFS) of about 4.98 crore shares. In this OFS, Canara Bank is selling nearly 2.59 crore shares, while ORIX Corporation Europe N.V. is offering around 2.39 crore shares. According to the Canara Robeco IPO live subscription data Day 2, the issue has seen steady participation, mainly driven by retail investors.
Canara Robeco IPO live subscription data Day 2 shows that the public issue of Canara Robeco Asset Management Company Limited received around 48% subscription by the end of the second day of bidding on October 10. The IPO has attracted steady interest, mainly from retail investors, while other investor categories are showing slower participation.
The company aims to raise Rs 1,326.13 crore from the public offering.
Canara Robeco IPO Live Subscription Data Day 2 Shows 1.68 Crore Shares Bid by Investors
According to the Canara Robeco IPO live subscription data Day 2, investors have placed bids for around 1.68 crore shares out of the total shares available for subscription. The response has been driven mainly by Retail Individual Investors (RIIs) and Non-Institutional Investors (NIIs). Retail investors have subscribed to about 0.74 times of their allotted quota, while NIIs have subscribed around 0.53 times. This steady participation from individual investors shows growing confidence in the Canara Robeco IPO, even as institutional investors continue to take a cautious approach.
In terms of the overall response, the Non-Institutional Investor (NII) segment has shown decent participation by booking around 39.45 lakh shares. The Retail Individual Investor (RII) category continues to lead the momentum, with bids placed for nearly 1.29 crore shares out of the total shares reserved for them, reflecting strong retail demand and growing investor confidence in the issue.
On the other hand, the Qualified Institutional Buyer (QIB) portion has been relatively quiet so far. As per the latest data, QIBs have bid for only 13,384 shares out of their total quota of 99.70 lakh shares, showing that institutional investors are still cautious and may enter more actively closer to the final day of bidding.
Canara Robeco IPO Details: OFS of 4.98 Crore Shares with Price Band Rs 253-266
The Canara Robeco IPO is a pure offer for sale (OFS), consisting of 4.98 crore shares, and does not include any fresh issue component. This means that the company itself will not receive any funds from this IPO; instead, the money raised will go directly to the existing shareholders who are selling their stakes.
Under the OFS structure, Canara Bank, which currently owns a 51% stake in Canara Robeco Asset Management Company Limited, is set to sell about 2.59 crore shares. Meanwhile, ORIX Corporation Europe N.V., holding the remaining 49% stake, is offering around 2.39 crore shares for sale.
The Canara Robeco IPO live subscription data Day 2 shows that the issue has a price band between Rs 253 and Rs 266 per share, allowing investors to place bids within this range. The lot size is set at 56 shares per bid, making it easily accessible for a wide range of retail investors. Being a pure OFS-based issue, the IPO provides investors a chance to participate in one of India’s established asset management companies while also offering liquidity to the existing shareholders.
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