Canara Robeco AMC IPO Allotment: Here’s How To Check Status Online

Canara Robeco Asset Management Co. Ltd. will be finalising its IPO share allotment status on Tuesday, October 14, after witnessing a lukewarm subscription of its public offer.

The bookbuilding issue worth ₹1,326.13 crore has garnered a total of 33,99,83,168 bids for its IPO, against 3,48,98,051 equity shares on offer for the issue, translating to a subscription of 9.74 times.

Canara Robeco AMC IPO remained open for subscription for three days, from October 9 to October 13.

The retail portion of the mainboard IPO was booked by a bleak 1.91 times, while the Non-Institutional Investors (NIIs) category noted a subscription of 6.45 times. The Qualified Institutional Buyers (QIBs) category saw a subscription of 25.92 times.

Canara Robeco AMC’s IPO is an ‘offer for sale’ with a lot size of 56 shares, offered at a face value of ₹10 per piece. The issue price band has been set at ₹253 to ₹266 per equity share.

Canara Robeco Asset Management IPO was a book build issue of ₹1,326.13 crore. It comprised an offer for sale of 4.99 crore shares.

Canara Robeco Asset Management’s issue is a complete offer for sale (OFS), which means the company will not receive any proceeds from the issue. Canara Bank and OCE, classified as promoters, will be selling shares in the IPO.

Canara Bank, classified as a promoter, will be selling 2.59 crore shares, while Orix Corporation Europe, will be selling up to 2.39 crore shares.

Investors, who bid for the IPO shares, can check the allotment status online via the BSE, NSE and the official website of the issue registrar, MUFG Intime India Private Limited. The book running lead manager of the issue is SBI Capital Markets Ltd.

Steps to check Canara Robeco Asset Management Company IPO share allotment on the BSE:

Visit the IPO allotment page on BSE website: https://www.bseindia.com/static/investors/application_statuschecksystem.aspx

Select 'Equity' as the issue type

Choose ‘Canara Robeco Asset Management Company Limited’ from the dropdown menu for issue names

Enter your application number or PAN to proceed

Click on Search to view your share allotment details

Steps to check Canara Robeco Asset Management Company IPO allotment on MUFG Intime India:

Visit the link: https://in.mpms.mufg.com/Initial_Offer/public-issues.html

From the dropdown menu, select ‘Canara Robeco Asset Management Company Limited' from the list of companies

Select any one of the PAN, Application Number, DP/Client ID or Account Number/IFSC to view your allotment status

Enter the required details

Click on 'Submit' to check the allotment status

Canara Robeco Asset Management Co.’s shares are expected to be credited to the demat accounts of successful bidders on Wednesday, October 15, while the refunds to all the non-allottees will also be initiated on the same day.

The company’s shares are scheduled to be listed on the stock exchanges on Thursday, October 16.

Incorporated in 1993, Canara Robeco AMC evolved from Canbank Mutual Fund, which was founded in 1987. The company is a joint venture between Canara Bank and Orix Corporation Europe N.V. The partnership between the two entities was formed in 2007.