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Canara Robeco AMC’s Rs 1,326 cr IPO to open on Oct 9

Canara Robeco Asset Management Company has set a price band of Rs 253-266 per share for its upcoming Initial Public Offering (IPO), valuing the company at approximately Rs 5,300 crore at the upper end. The Rs 1,326 crore IPO is scheduled to open for subscription on October 9 and will close on October 13. Additionally, anchor investors will be able to participate in a one-day bidding session on October 8, as per the company’s public announcement.

This IPO is a pure Offer For Sale (OFS) of 4.98 crore equity shares, with no fresh issue component. Under the OFS, the promoters—Canara Bank and ORIX Corporation Europe NV (formerly Robeco Groep NV)—will be selling 2.59 crore and 2.39 crore shares respectively. Canara Bank currently holds a 51% stake in Canara Robeco, while ORIX Corporation owns the remaining shares.

Since the IPO is entirely an OFS, Canara Robeco will not receive any proceeds from the public issue. Instead, the funds raised will go directly to the selling shareholders.

**About Canara Robeco**

Canara Robeco’s core activities include managing mutual funds and providing investment advice focused on Indian equities. It holds the distinction of being the country’s second-oldest asset management company. The state-run lender Canara Bank initially floated the company in 1993, later partnering with Robeco (now part of ORIX) in 2007.

The company operates in a competitive market alongside established players such as HDFC Asset Management Company, Nippon Life India Asset Management, and UTI Asset Management Company.

**Issue Allocation and Management**

The IPO has been allocated as follows:
– 50% reserved for Qualified Institutional Buyers (QIBs)
– 35% for retail investors
– 15% for non-institutional investors

SBI Capital Markets, Axis Capital, and JM Financial will act as the book running lead managers for this issue.

Shares of Canara Robeco are expected to be listed on stock exchanges on October 16.

**Additional Context**

In December 2024, Canara Bank received approval from the Reserve Bank of India to divest its stake in life insurance and mutual fund ventures. Following this, the IPO of Canara HSBC Life Insurance Company—a complete OFS comprising 23.75 crore equity shares—is set to open for public subscription from October 10 to October 14.
https://www.freepressjournal.in/corporate-gallery/canara-robeco-amcs-rs-1326-cr-ipo-to-open-on-oct-9

Canara Robeco AMC’s Rs 1,326 cr IPO to open on Oct 9

Canara Robeco Asset Management Company has fixed a price band of Rs 253-266 per share for its upcoming Initial Public Offering (IPO), valuing the company at approximately Rs 5,300 crore at the upper end. The IPO, amounting to Rs 1,326 crore, is scheduled to open for subscription on October 9 and close on October 13.

Ahead of the public subscription, the one-day bidding for anchor investors will take place on October 8, as per the company’s public announcement.

This IPO is a complete Offer For Sale (OFS) of 4.98 crore equity shares, with no fresh issue component. Under the OFS, the promoters—Canara Bank and ORIX Corporation Europe NV (formerly Robeco Groep NV)—will sell 2.59 crore shares and 2.39 crore shares, respectively. Canara Bank currently holds a 51% stake in Canara Robeco, while ORIX Corporation owns the remaining stake in the asset management company.

Since the IPO is entirely an OFS, Canara Robeco will not receive any funds from the public issue. Instead, the proceeds from the sale will go directly to the selling shareholders.

Canara Robeco primarily engages in managing mutual funds and providing investment advice on Indian equities. It is recognized as the country’s second oldest asset manager. The state-run lender, Canara Bank, originally founded the company in 1993 and later partnered with Robeco—now part of ORIX—in 2007.

Operating in a highly competitive space, Canara Robeco faces competition from established listed players such as HDFC Asset Management Company, Nippon Life India Asset Management, and UTI Asset Management Company.

The IPO allocation is divided as follows: 50% reserved for Qualified Institutional Buyers (QIBs), 35% for retail investors, and 15% for non-institutional investors. SBI Capital Markets, Axis Capital, and JM Financial are appointed as the book running lead managers for this issue.

Shares of Canara Robeco are expected to list on stock exchanges on October 16.

In a related development, Canara Bank announced in December 2024 that it had received approval from the Reserve Bank of India to divest its stakes in life insurance and mutual fund ventures. The IPO of Canara HSBC Life Insurance Company, a complete OFS involving 23.75 crore equity shares, is scheduled to open for public subscription from October 10 to October 14.
https://www.freepressjournal.in/corporate-gallery/canara-robeco-amcs-rs-1326-cr-ipo-to-open-on-oct-9

Non-Banking Financial Company Tata Capital Set To Launch IPO On October 6, Issue Size Pegged At ₹17,200 Crore

**Tata Capital to Launch USD 2 Billion IPO on October 6, Eyeing USD 18 Billion Valuation**

New Delhi: Tata Capital, the non-banking financial company and financial services arm of the Tata Group, is set to launch its initial public offering (IPO) on October 6, 2025. According to sources familiar with the matter, the issue size is pegged at an estimated USD 2 billion (approximately Rs 17,200 crore).

The IPO bidding will open on Monday, October 6, 2025, and close on Wednesday, October 8, 2025. The anchor investor bidding date is scheduled for Friday, October 3, 2025, as disclosed to the stock exchanges.

Tata Capital is targeting a valuation of around USD 18 billion. The proposed IPO comprises 47.58 crore shares, including a fresh issue of 21 crore equity shares and an offer for sale (OFS) of 26.58 crore shares.

As part of the OFS, Tata Sons will offload 23 crore shares, while the International Finance Corporation (IFC) will divest 3.58 crore shares. Currently, Tata Sons holds an 88.6% stake in Tata Capital, and IFC owns a 1.8% stake.

Proceeds from the IPO will be utilized to strengthen Tata Capital’s Tier-1 capital base, supporting future capital requirements including onward lending.

Tata Capital filed draft papers for the IPO through the confidential pre-filing route in April 2025, receiving regulatory approval from the Securities and Exchange Board of India (SEBI) in July 2025. If successful, this IPO will become the largest public issue in India’s financial sector and mark the Tata Group’s second public listing in recent years, following Tata Technologies’ debut in November 2023.

### RBI Listing Mandate and Sector Context

This IPO aligns with the Reserve Bank of India’s listing mandate requiring upper-layer non-banking financial companies (NBFCs) to be listed within three years of classification. Tata Capital was designated as an upper-layer NBFC in September 2022.

In a similar sector move, HDB Financial Services, the non-banking arm of HDFC Bank, went public in June 2025 with a Rs 12,500 crore issue. Bajaj Housing Finance, another upper-layer NBFC, made a blockbuster market debut in September 2024, closing its first day of trade with a 135% premium over the issue price.

### Financial Performance and Business Portfolio

For the financial year 2024-25, Tata Capital reported a profit after tax (PAT) of Rs 3,655 crore, up from Rs 3,327 crore in FY24. Its revenue also witnessed a significant jump to Rs 28,313 crore in FY25, compared to Rs 18,175 crore in the previous year.

Since beginning lending operations in 2007, Tata Capital has served more than 70 lakh customers as of March 31, 2025. With a portfolio offering more than 25 lending products, the company caters to a diverse clientele including salaried and self-employed individuals, entrepreneurs, small businesses, SMEs, and corporates.

Beyond lending, Tata Capital also distributes third-party products such as insurance and credit cards, offers wealth management services, and acts as a sponsor and investment manager for private equity funds.

### IPO Management

The IPO is being managed by a consortium of leading book-running lead managers, including Axis Capital, Kotak Mahindra Capital Company, BNP Paribas, HDFC Bank, HSBC Securities and Capital Markets (India) Private Limited, Citigroup Global Markets India Private Limited, ICICI Securities, IIFL Capital Services, SBI Capital Markets, and J P Morgan India.

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https://www.freepressjournal.in/business/non-banking-financial-company-tata-capital-set-to-launch-ipo-on-october-6-issue-size-pegged-at-17200-crore